The Law Debenture Trust company which represents Russia’s interests in the case the so called Yanukovych’s debt has filed an appeal to the Supreme Court of the United Kingdom.
On September 14, London Court granted the appeal of Ukraine $3 bn debt to Russia – it was the sum Moscow put out for Ukrainian eurobonds in 2013. Kyiv regularly paid the debt, but at the end of 2015 it defaulted on the bonds.
In response, the Russian Finance Ministry sued the Ukrainian side in the High Court in London and won the lawsuit in March 2017. Ukraine was compelled to pay $3 bn (the nominal value of the bonds), coupon payments ($75 mln), as well as default interest. Each day of delay costs Kyiv $673,000. But the Ukrainian authorities contested the decision at the Court of Appeal which took the side of Kyiv. The judges made allowance for the fact that issuing eurobonds had been taking place under the pressure of Russia.
