Ex-PrivatBank Owners Ask For Time To Fight $2.6B Fraud Suit
Law360, London (November 15, 2019, 6:07 PM GMT) -- Two former owners of PrivatBank being sued by the lender asked a London judge Friday for more time to file their defenses to two-year-old allegations that they orchestrated a scheme to steal billions of dollars from Ukraine's largest bank.
Since 2017, PrivatBank has been pursuing a $2.6 billion claim against former owners Gennadiy Bogolyubov and Igor Kolomoisky over allegations they funneled money from the bank using sham loan transactions involving several English companies linked to the supply of commodities.
But Bogolyubov and Kolomoisky, two of Ukraine's richest men, are now seeking an extra three months to defend claims that they embezzled...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!