Date: 6 months ago   Category: Finance

The court of England has satisfied the appeal of Ukraine within the claim of Russia for a debt for $3 billion — Rambler News Service


Photo: globallookpress.com Court of Appeal of England has satisfied the appeal of Ukraine within claims of Russia to Kiev for a debt for $3 billion, follows from the message of the Ministry of Finance of the Russian Federation. The ministry notes that the court has confirmed legitimacy of refusal of Ukraine in consideration of three bases stated by Kiev within this claim, however has defined that the fourth argument has to be considered during full trial. "The Court of Appeal has issued the decree on need of conducting such trial to establish existence or lack of the proofs confirming one more, fourth argument of Ukraine which is that the borrower has issued eurobonds allegedly under pressure from the creditor, that is the Russian Federation" — it is said in the statement. The Ministry of Finance at the same time emphasizes that the court of England hasn't confirmed justice of the fourth argument of protection, and only noted that this argument can't be rejected without conducting comprehensive trial. The ministry believes that the fourth argument of Ukraine also has to be rejected without conducting trial. "For this reason the Ministry of Finance of the Russian Federation has charged to the Trustee eurobonds – the companies ‘’The Law Debenture Trust Corporation plc' & #39; (further – Trasti) – to submit in the Supreme Court of the United Kingdom the appeal on the decision on the fourth argument of Ukraine" — it is specified in the message. Russia has provided to Ukraine $3 billion on credit by redemption of her eurobonds on the Irish stock exchange at the end of 2013. Kiev serviced a debt until the end of 2015. After negotiations on debt restructuring haven't brought result, Ukraine has imposed the moratorium on payments for him, Moscow has been forced to appeal to court. At the end of March, 2017 the High Court of Justice has satisfied the petition of Russia for the accelerated consideration of the claim to Ukraine concerning the mentioned loan and has obliged Ukraine to repay the debt to Russia. Kiev has submitted the appeal on this decision. In September it became known that Ukraine compensated to Russia a part of legal costs in the claim for a debt for eurobonds of £1,16 million ($1,56 million at the rate for September 21). Earlier the High Court of Justice has obliged Kiev to compensate to Moscow a part of legal costs for £2,8 million on January 26 the Court of Appeal of England has finished open hearings on a debt of Ukraine to Russia. After that the Ministry of Finance of the Russian Federation has hoped that the English court will confirm the decision of the High Court of Justice passed in favor of Russia.

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