Kasowitz Benson Torres LLP: Miami Businessmen Korf and Laber File Motion to Dismiss Suit filed by Ukrainian Bank In Delaware

MIAMI, July 16, 2019 /PRNewswire/ -- In a motion filed today, Mordechai Korf and Uriel Laber asked Judge Joseph R. Slights III, of the Delaware Chancery Court, to dismiss "with prejudice all claims against them" and their U.S. companies, Optima 1375 II, LLC and Optima International of Miami, Inc.

In May of this year, PrivatBank, Ukraine's largest financial institution, which was nationalized in 2016, filed a lawsuit seeking unspecified damages in Delaware Chancery Court against its former controlling shareholders, Ukrainian businessmen Ihor Kolomoisky and Gennadiy Bogolyubov. Neither Mr. Kolomoisky nor Mr. Bogolyubov is a U.S. resident or citizen.

Marc E. Kasowitz, of Kasowitz Benson Torres, lead attorney for Messrs. Korf and Laber, stated:  "The claims against Mr. Korf and Mr. Laber -- American citizens who have played a key role in the revitalization of depressed industrial assets in West Virginia and Kentucky, and real estate in Cleveland, Ohio -- are false and completely without merit. Those claims are part of an orchestrated political attack by a Ukrainian bank against Ihor Kolomoisky and Gennadiy Bogolyubov, two Ukrainian business associates of Mr. Korf and Mr. Laber."

"Not only does the complaint fail to specify any misconduct by Mr. Korf and Mr. Laber, but the allegations ‑‑ all of which refer to purported misconduct outside of the United States ‑‑ make plain that the lawsuit has no place in U.S. courts, let alone a state court in Delaware," he continued. "That this same Ukrainian bank has brought substantially similar claims against Messrs. Kolomoisky and Bogolyubov in a number of forums around the world -- including the United Kingdom and Switzerland -- and is engaged in protracted litigation in Ukraine against them concerning the same allegations, underscore that plaintiff's complaint has no business being heard in Delaware and that Mr. Korf and Mr. Laber have absolutely nothing to do with this dispute. We intend to vigorously contest the claims against Mr. Korf and Mr. Laber and expect the lawsuit to be dismissed in its entirety. Mr. Korf's and Mr. Laber's hard-earned reputation as prudent, experienced and successful investors will be vindicated."

According to news reports, Messrs. Kolomoisky and Bogolyubov have said the National Bank of Ukraine seized PrivatBank for political reasons by raising capital requirements and spreading false rumors about its financial health. They have filed legal claims in Ukraine and the U.K. seeking compensation for expropriation of their stakes in PrivatBank, Ukraine's largest lender.

A court in Kiev declared the nationalization illegal earlier this year, but the central bank is appealing that ruling.

SOURCE Kasowitz Benson Torres LLP