State-run PrivatBank (Kyiv) has not yet been notified of a lawsuit lodged by eurobond holders with the London Court of International Arbitration (LCIA) against a forced swap of their securities for shares of an additional issue of the bank (the so-called bail-in procedure), Chairman of the bank’s board Oleksandr Shlapak has said.
“We have not received any notification of the claim filed by eurobond holders at the London court. I suppose we will be one of the defendants, but it seems to me that it would be more logical if they (the holders) applied to those who handled that transaction,” he said on May 23.
In his words, these were the National Bank of Ukraine and the Individual Deposits Guarantee Fund that carried out the bail-in transaction, so all questions on this matter should be addressed to them.
“There are no securities on the balance sheet. If there are any court decisions, then we will think how to address them,” Shlapak added. (Interfax-Ukraine/Business World Magazine)
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