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Ukrainian American Bar Association

Russia Sues Ukraine in London Court Over $3 Billion Default

17 Feb 2016 4:03 PM | Myroslaw Smorodsky (Administrator)

Russia Sues Ukraine in London Court Over $3 Billion Default

Russia said it filed a lawsuit against Ukraine in the High Court in London after the government in Kiev defaulted on $3 billion in bonds. Cleary Gottlieb Steen & Hamilton LLP was hired to represent the government in Moscow in a case that will seek to recover the principal in full, $75 million of unpaid interest and legal fees, Russian Finance Minister Anton Siluanov said on Wednesday. The filing comes after Germany tried to mediate talks between the two former-Soviet neighbors to try to reach an out-of-court settlement.  Bloomberg Business


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