On November 4, 2026, the UK Supreme Court made a definitive ruling, denying Igor Kolomoisky and Gennady Boholyubov the opportunity to appeal the decision regarding the payment of over $3 billion to PrivatBank. This ruling marks the conclusion of a lengthy legal process that began back in July 2025.
Case Overview and Court Rulings
In July 2025, the High Court in London found that Kolomoisky and Boholyubov had committed large-scale fraud against PrivatBank. The court ordered them to pay over $3 billion as compensation for damages, interest, and legal costs. The former bank owners attempted to challenge this ruling, claiming they had returned these funds to the bank, but their arguments were dismissed.
Final Decision by the Supreme Court
In May 2026, the Court of Appeal in England also rejected their appeals, after which Kolomoisky and Boholyubov approached the Supreme Court requesting a review of the case. However, on November 4, 2026, the Supreme Court refused to allow an appeal against the previous ruling, meaning the decision to recover the funds can be enforced in any jurisdiction.
Context and Implications
This case is part of a broader investigation into financial misconduct related to PrivatBank. It is worth noting that recently another court ruled to confiscate an airport in Dnipro from Kolomoisky. These events highlight the serious consequences for the former bank owners, who, according to investigations, siphoned billions from their own bank, leaving it in a challenging financial position.