ABH Holdings S.A. (ABHH) has raised serious allegations against the International Monetary Fund (IMF), accusing it of complicity in the unlawful expropriation of Sense Bank in Ukraine.The contentious issue stems from Ukraine’s nationalisation of Sense Bank without compensation, which ABHH claims was an act of theft.IMF recently announced its intention to prepare Sense Bank for sale. ABHH has asserted in a recent press release that in so doing, the IMF is implying that Ukraine’s expropriation of the bank was legitimate, and so this move directly interferes with the ongoing arbitration proceedings with the International Centre for the Settlement of Investment Disputes (ICSID), in which ABHH is seeking full compensation exceeding $1 billion for the bank’s expropriation.The IMF’s involvement has drawn criticism from ABHH, with allegations that the institution is facilitating the disposal of stolen assets and undermining the rule of law. ABHH claims the IMF is acting as a ‘fence’ for stolen goods, bringing the integrity of Western institutions into question.ABHH’s comments underscore the company’s determination to pursue justice through all legal avenues, and to ensure the rule of law is upheld.This development is the latest in a saga which began in 2022, when Ukraine nationalised Sense Bank following the passing of a series of arbitrary and discriminatory laws which enabled the seizure of the bank from its rightful owners, which included the Mark Foundation for Cancer Research and UniCredit.ABHH, the previous owners of the bank, has warned against its potential privatisation as they would view the transfer of any assets as the sale of stolen property.ABHH’s legal battle with Ukraine raises questions about the adherence to the rule of law and the role of international institutions in resolving these complex investment disputes. The outcome of this case will have implications for future investment protection, and the credibility of Western institutions in upholding international justice.