What may Kolomoiskyi lose after losing in the London court?

What may Kolomoiskyi lose after losing in the London court?

Yesterday, the High Court of England and Wales found the former owners of "PrivatBank"—Ihor Kolomoiskyi and Hennadiy Boholyubov—guilty of unlawfully appropriating $1.9 billion. This decision paves the way for confiscating Kolomoisky’s assets not only in Ukraine but also abroad.

Recall that PrivatBank was nationalized at the end of 2016 after serious financial violations were discovered, and the state injected significant funds into it. In 2017, an investigation by the Kroll agency revealed facts of money being siphoned off through companies of the former shareholders. In the same year, the bank filed a lawsuit in the UK court, and now the court has supported its side.

What specifically can be taken from Kolomoiskyi?

In Ukraine, the oligarch’s assets have already been significantly reduced: in 2022, 40% of his shares in "Ukrnafta" were confiscated, part of the property was transferred to ARMA, including shares in the Nikopol Ferroalloy Plant and a grain terminal in the Odesa region. However, Kolomoiskyi retains control over several enterprises—the Zaporizhzhya Ferroalloy Plant, the Kryvyi Rih Iron Ore Plant, manganese mining complexes, and remains the owner of the "1+1 media" holding.

Abroad, he owns commercial real estate in the USA (Dallas and Louisville) with a total value of about $70 million and a steel plant in Ohio, although the plant is no longer operational. The oligarch likely has other foreign assets as well, but they will need to be located and ownership will have to be proven through lengthy legal proceedings.

In Ukraine, the confiscation process does not always go smoothly—some assets still remain with Kolomoiskyi, despite NSDC sanctions and court rulings in favor of "PrivatBank." However, political instability in the country could influence future developments: the weakening of President Zelenskyy’s position gives Kolomoiskyi a chance to improve his situation and even gain freedom, considering his current opposition stance.

If the authorities retain control, the process of confiscating Kolomoiskyi’s remaining assets may accelerate and become more decisive.