Landmark Supreme Court Victory
Landmark Supreme Court Victory: LCF Secures a Precedent-Setting Ruling for Former Bank Executives in a Damages Claim Brought by the Deposit Guarantee Fun
LCF Law Group has achieved a significant Supreme Court victory regarding the personal liability of former bank executives.
Ukraine’s Deposit Guarantee Fund filed the claim, seeking to recover losses from the bank’s former management. The Supreme Court upheld the dismissal, finding no breach of fiduciary duty that resulted in harm to the bank.
This is the first Supreme Court decision to expressly confirm the absence of such a breach in these disputes. It is likely to influence how Ukrainian courts assess future claims against former bank directors and senior management.
The LCF team was led by Iryna Kobets, Partner and Head of Dispute Resolution, and Volodymyr Lavrynovych, Counsel and Head of Corporate Disputes.
This outcome demonstrates the strength of the legal position and underscores the case’s significance for the development of Ukrainian banking litigation.
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