Of the Russian Federation proposed to consider summarily the claim on the debt of Ukraine

Of the Russian Federation proposed to consider summarily the claim on the debt of Ukraine


Moscow. July 28. Russia has filed in London’s High court the petition for adjudication in respect of the notes Ukraine’s belonging to Russia, in an expeditious manner, is spoken in the message of the Ministry of Finance of the Russian Federation. A petition on Thursday filed by the independent company The Law Debenture Corporation, representing as of the Trustee (Trustee) for the Russian Federation as the only owner of bonds of Ukraine with a nominal value of $3 billion.

The Trustee asked the court disallowing the opinion of Ukraine on the claim and make a decision requiring her to pay the face value of the bonds and the unrealized amount of the coupon payment in the amount of $75 million and the interest on the entire amount of arrears on bonds.

The Finance Ministry expects that the hearing on the petition will be held in late 2016. In the case of satisfaction by the court, a full trial is not required and the final decision on the merits can be handed down in early 2017.

As previously reported, the government of Mykola Azarov in December 2013 issued two-year Eurobonds for $3 billion at 5% per annum, which bought the NWF. Now Kiev claims that the contract of borrowing concluded in December 2013 is invalid and not enforceable for a number of reasons, including the violation of domestic legislation and established the Ukrainian regulatory acts procedures for the issue of Eurobonds for $3 billion, which was later bought by Russia at the expense of the national welfare Fund (NWF), and “pressure from Russia throughout 2013, with the goal to prevent Ukraine’s signing the Association Agreement with the EU.”