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PrivatBank’s U.S. Lawsuit Against Ukrainian Oligarchs Paused (2)

Aug. 24, 2021, 6:00 PMUpdated: Aug. 25, 2021, 2:19 PM

One of Ukraine’s wealthiest men and another billionaire oligarch won a temporary reprieve from litigation in Delaware over their alleged scheme to loot PrivatBank—which was later nationalized over the multibillion-dollar scandal—by laundering bogus loans through U.S. shell companies.

Vice Chancellor Joseph R. Slights III paused most of the case in Delaware’s Chancery Court pending parallel proceedings in Ukraine, although he indicated he would “continue to address certain procedural issues” so litigation can promptly resume if or when it’s warranted.

The state-owned bank’s lawsuit targeting its ex-owners—Gennadiy Bogolyubov and Igor Kolomoisky, a former regional governor believed to be Ukraine’s second- or ...