Russia has not filed a lawsuit against Ukraine over unpaid $3 billion, said today the Minister of Finance of Russia Anton Siluanov. He said earlier that the lawsuit will be filed before the end of January. “With the Trustee (intermediary between the Issuer and the bondholder. —) the negotiations are, they are a little bit delayed”, — quotes the Minister TASS. He did not provide further details, and the representative of the Ministry of Finance has not yet provided comment.
1 January, the Russian Finance Ministry announced that Ukraine had not paid $3 billion and the interest on $75 million on Eurobonds, the maturity of which came at the end of December. In accordance with the terms of the issue purchased by Russia in December 2013, for the protection of creditor’s interests are formally responsible Trustee is the English company The Law Debenture Trust Corp., to which appealed to the Ministry of Finance. The Trustee is obliged to “initiate appropriate legal proceedings” for a “reasonable time” and Russia can sue Ukraine directly, only if the Trustee has not complied with its duties.
Appropriate lawsuit will be filed in an English court, has promised the Ministry of Finance. Under the agreement of Ukraine with The Law Debenture Corp., principal amount of debt accrued penalty interest (5% per annum) until such time as Ukraine does not repay the debt.
Ukraine hopes to agree with Russia on the settlement of debt by $3 billion through bilateral negotiations, informal mediates them to the German Ministry of Finance, said in January the Minister of Finance of Ukraine Natalia Jaresko. But possible solutions for restructuring is limited to the agreements of Ukraine with private creditors, under which Kiev is unable to provide the best financial terms than those accepted by private creditors (they have written off Ukraine 20% of the principal debt and rescheduled the maturities for the years ahead).
The Representative Of The Law Debenture Corp Stock. not responded to the request .