JSC Commercial Bank Privatbank v Igor Valeryevich Kolomoisky & Ors

JSC Commercial Bank Privatbank v Igor Valeryevich Kolomoisky & Ors

The Bank is entitled to judgment for principal sums and compound interest (compounded monthly at weighted average US$ borrowing rates, subject to a 3% floor) as full compensation for harm caused by the Defendants' fraudulent misappropriation, under Ukrainian law as proven and English law as lex fori. Indemnity costs are justified by the Defendants' dishonest conduct, evidential failings, and shifting defences. No general stay of execution is warranted as the risk of irrecoverability due to Ukrainian sanctions is minimal for assets outside Ukraine, and ring-fencing of funds for legal and living expenses sufficiently mitigates any risk of stifling appeal. The Bank is entitled to robust...

Parties
Claimant: JSC Commercial Bank PrivatBank; First Defendant: Igor Valeryevich Kolomoisky; Second Defendant: Gennadiy Borisovich Bogolyubov; Third Defendant: Teamtrend Limited; Fourth Defendant: Trade Point Agro Limited; Fifth Defendant: Collyer Limited; Sixth Defendant: Rossyn Investing Corp; Seventh Defendant: Milbert Ventures Inc; Eighth Defendant: ZAO Ukrtransitservice Ltd
Jurisdiction
England and Wales
Judgment Date
13 November 2025
Procedural Posture
Civil (commercial Fraud, Asset Recovery) / Post Trial, Consequentials Judgment
Outcome
Judgment for Claimant; applications for permission to appeal and general stay of execution refused; consequential orders made.
Legal Topics
Fraud, Asset Recovery, Compound Interest, Sanctions, Costs (indemnity Basis), Worldwide Freezing Orders, Stay of Execution, Permission to Appeal, Disclosure and Delivery Up Orders
Commercial Law Banking Law Civil Procedure Private International Law Fraud Asset Recovery Compound Interest Sanctions +5 more

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Parties

JSC Commercial Bank PrivatBank

Claimant

Igor Valeryevich Kolomoisky

First Defendant

Gennadiy Borisovich Bogolyubov

Second Defendant

Teamtrend Limited

Third Defendant

Trade Point Agro Limited

Fourth Defendant

Collyer Limited

Fifth Defendant

Rossyn Investing Corp

Sixth Defendant

Milbert Ventures Inc

Seventh Defendant

ZAO Ukrtransitservice Ltd

Eighth Defendant

Procedural Posture

Civil (commercial Fraud, Asset Recovery) / Post Trial, Consequentials Judgment

Legal Issues

  1. 1 Quantification of judgment sums and interest against defendants
  2. 2 Entitlement to compound interest under Ukrainian law and English law
  3. 3 Assessment and basis of costs (indemnity vs standard)

Ratio Decidendi

The Bank is entitled to judgment for principal sums and compound interest (compounded monthly at weighted average US$ borrowing rates, subject to a 3% floor) as full compensation for harm caused by the Defendants' fraudulent misappropriation, under Ukrainian law as proven and English law as lex fori. Indemnity costs are justified by the Defendants' dishonest conduct, evidential failings, and shifting defences. No general stay of execution is warranted as the risk of irrecoverability due to Ukrainian sanctions is minimal for assets outside Ukraine, and ring-fencing of funds for legal and living expenses sufficiently mitigates any risk of stifling appeal. The Bank is entitled to robust...

Court Disposition

Judgment for Claimant; applications for permission to appeal and general stay of execution refused; consequential orders made.

Orders

  • Judgment entered against Individual Defendants jointly and severally for US$1,761,957,792 principal plus US$1,190,083,824 compound interest (monthly rests, weighted average US$ borrowing rates, 3% floor) to 30 July 2025.
  • Judgment entered against Corporate Defendants severally for specified principal and interest sums.