Ukrainian «Oschadbank» announces an appeal to the highest court in France, the Court of Cassation, with an appeal against the March 2021 decision of the Paris Court of Appeal, which overturned the 2018 arbitration decision to reimburse Russia in favor of «Oschadbank» about $ 1.4 billion. The losses of «Oschadbank» in question were caused as a result of the aggressor’s illegal seizure of «Oschadbank» investments in the Crimea.
«Oschadbank» is confident that the French Court of Cassation will recognize and correct obvious errors and omissions in the decision of the Paris Court of Appeal. Thus, he will restore the arbitral award against Russia, which is to compensate the «Oschadbank» for significant losses incurred due to unacceptable actions and disregard for the laws of the Russian Federation.
«Consideration of the case for obtaining fair compensation for the assets of Oschadbank expropriated by the Russian Federation in the occupied Crimea is constantly in the center of attention of the bank’s management. Despite the complex course and unprecedented nature of this case, Oschad will use all available opportunities to fully meet its fair requirements», commented Serhiy Naumov, Chairman of the Board of «Oschadbank».