On November 17, Commercial Bank “Acordbank” won a legal dispute against “Alfa Bank” in the Commercial Court of Kyiv.
Decision judge Lyudmila Shkurdova decided to reject the claim.
The essence of the claim of Alfa-Bank’s lawyers is “improper fulfillment by the defendant of the terms of the general agreement No. R-154/2017 dated 09/29/2017 regarding the sale of foreign currency in the amount of USD 8,000,000 to Alfa-Bank Joint Stock Company under an agreement of the type ” SWOP” dated February 24, 2022 for UAH 228,047,264″.
Judge Shkurdova decided to leave the lawsuit of “Alfa-Bank” unsatisfied.
According to an excerpt from the court decision, “the plaintiff in the counterclaim [Акордбанком] the occurrence of a significant change in circumstances was duly substantiated, namely the introduction of martial law due to the military aggression of the Russian Federation, as a result of which the National Bank of Ukraine was prohibited from carrying out currency operations, the participant of which is a legal entity or an individual who is located (registered/permanently resides) in Russian Federation, as well as an increase in the exchange rate by more than 20%.”
“The court fee in the amount of UAH 2,481 shall be left to the plaintiff. A counterclaim of the Public Joint-Stock Company “Commercial Bank “Accordbank” to the Joint-Stock Company “Alfa-Bank” on the termination of the “SWOP” type agreement, which was concluded by the Joint-Stock Company “Alfa-Bank” and the Public Joint-Stock Company “Commercial Bank “Accordbank” 02.22.2022 within the framework of the general agreement No. R-154/2017 dated 29.09.2017 – to satisfy completely,” the decision reads.
In this case, the above-mentioned agreement will be terminated.
“The decision of the commercial court takes legal effect 20 days after the production of the full text of the decision, in the event that it is not appealed in accordance with the established procedure. The decision can be appealed within 20 days to the Northern Commercial Court of Appeal. The full text of the decision was drawn up and signed on November 24, 2022,” the judge ruled.
According to the decision of the National Security Council of Ukraine, personal sanctions have been applied to natural persons who are owners of significant participation in certain banks of Ukraine, in particular JSC ALFA-BANK. Including, the sanction “blocking of assets” is in effect – temporary deprivation of the right to use and dispose of assets belonging to an individual or legal entity, as well as assets in relation to which such an individual can directly or indirectly (through other individuals or legal entities) perform actions identical to the content of the exercise of the right to dispose of them”.