Ukraine wins appeal on “Yanukovych debt” in London Court

Source : 112 Ukraine

The issue concerns Eurobonds for $3 billion
17:28, 14 September 2018


The Appeal Court in London satisfied the appeal of Ukraine against Russia in the case on “debt of Yanukovych” – Eurobonds in the sum of $3 million. Oleksandr Danylyuk, the ex-Finance Minister of Ukraine Olexander Danulyuk confirmed this as 112 Ukraine reported.

“Recently Ukraine has won the decision in the court in our favor concerning the return of $3 billion so-called debt,” he claimed.

Related: Lawyer of ex-Berkut officers becomes new advocate of Yanukovych

The Russian newspaper “TASS” citing the correspondent in London Court also reports on the loss of Russia.

Thus, High Court of London will return to consideration of the debt dispute between Kyiv and Moscow within the judicial proceeding but not within classical legal proceeding.

Ukraine, in December 2015, allowed the default on Eurobonds purchased by Russia in December 2013 by funds of National Wealth Fund ($3 billion is the issue and $75 million - the last payment of coupon). Kyiv offered Moscow the debt restricting on general conditions along with the commercial creditors. Russia refused to discuss this variant insisting on the sovereign nature of the debt. The debt should be paid until January 1, 2016. However, it December 2015, Ukraine imposed the moratorium for the service of this debt and did not pay until January 1, 2016.

Related: Court finds appointmed of state lawyers to Yanukovych legal

Then, on February 17, 2016, Russia’s Finance Ministry filed the lawsuit to High Court of London on the recovery of debt in Eurobonds.

On May 26, London court satisfied the appeal of Ukraine on stop of the execution of the decision dated March 29, 2017 until the finish of consideration of appeal of Ukraine at the Appeal Court.

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