The UK court postponed the judgement in debt dispute between Ukraine and Russia
Moscow. 26 Jan. INTERFAX.RU the court of Appeal of England after a five-day appeal of Ukraine on the decision of the High court of London under the claim of Russia for recovery of debt on Eurobonds for $3 billion decided to defer making a final decision, according to the website of the Ministry of Finance of Ukraine.
“Today, the court of Appeal of England has completed hearings on the appeal of Ukraine… After the meeting, the judges postponed the decision to a later date. On the results of the appeal will be notified after the announcement by the court of Appeal of England of its decision”, — stated in the message of the Ukrainian Ministry of Finance.
As reported, Ukraine in December 2015, has defaulted on Eurobonds purchased by Russia in December 2013 with funds from the national welfare Fund ($3 billion — the issue itself and $75 million — the last coupon payment). Kiev offered Moscow a debt restructuring with commercial creditors terms, Russia this option to discuss refused, insisting on the sovereign nature of the debt. The debt had to be repaid until 1 January 2016. However, in December 2015 Ukraine imposed a moratorium on servicing the debt and before January 1, 2016 not made payment on a $3,075 billion on account of repayment and service belonging to the Russian Eurobonds.