In Russia, Ukraine

TASS, Feb 18, 2016

LONDON – The Russian Finance Ministry has filed a lawsuit against Ukraine before the High Court of Justice in London for non-payment of a $3 billion loan

Ukraine currency (image by Alexandr Demyanchuk, TASS)

Ukraine currency (image by Alexandr Demyanchuk, TASS)

“The claim was filed in the Financial List [the disputes trial system — TASS] on the 17th February,” a Court’s representative said. “Names of parties are: The Law Debenture Trust Corporation PLC versus Ukraine represented by the Minister of Finance of Ukraine acting upon the instructions of the Cabinet of Ministers of Ukraine,” the source added.

“The Financial List is part of the Commercial Court,” the court’s representative said.

The Financial List established in July 2015 is a specialist list set up to handle claims related to the financial markets with the amount of claims over 50 million pounds sterling ($71.8 million). Cases assigned to the Financial List will be managed and heard by specialist judges so as to provide fast, efficient and high quality dispute resolution of claims.

The Russian Finance Ministry filed a lawsuit against Ukraine in London’s High Court of Justice for non-payment of a $3 billion loan, Russian Finance Minister Anton Siluanov told journalists Wednesday. The debt was due by Ukraine on December 21, 2015. On December 31, the grace period to settle the dispute expired.

The Russian Finance Ministry has not received any direct offers from Kiev.

Read also in TASS:
Finance ministry: Ukraine to firmly press for its interests in debt litigation with Russia, Feb 18, 2016

Russia versus Ukraine: The $3 billion court case begins

Russia issues proceedings against Ukraine for £3 billion debt in London’s High Court.

By Alexander Mercouris, Russia Insider, Feb 19, 2016

On Wednesday Russia issued legal proceedings against Ukraine for payment of the $3 billion debt Ukraine owes Russia.

As we originally predicted, the case is being brought in the Commercial Court in London, which is part of the High Court. Reports that appeared at the end of last year that the case would be brought in the London Court of International Arbitration have turned out to be wrong.

Russia Insider will be following the case and will attend the hearings.


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