Ukraine Bank Asks Chancery To Delay Ohio Building Sale

Law360 (January 20, 2021, 10:03 PM EST) -- Attorneys for a Ukrainian bank allegedly plundered by two oligarchs urged a Delaware vice chancellor on Wednesday to slow the $17 million sale of a Cleveland office tower purportedly bought with some of the bank's cash, citing price, fairness and conflict concerns.

But attorneys for purported shell companies associated with billionaires Igor Kolomoisky and Gennadiy Bogolyubov told Vice Chancellor Joseph R. Slights III that attorneys for Joint Stock Company Commercial Bank PrivatBank were peddling a "tinfoil hat" conspiracy, and that delaying the sale could harm multiple interests.

In the balance is a 22-floor office building owned by "Optima" entities allegedly linked...

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