MOSCOW - Russia has petitioned the High Court of London to make an expedited ruling in the country's lawsuit concerning Ukrainian bonds held by Russia, the Russian Finance Ministry said.
The motion was filed on July 29 by the independent Law Debenture Corporation, which is the trustee representing the interests of the Russian Federation as the sole owner of Ukrainian bonds totalling $3 billion.
The trustee has asked the court to dismiss Ukraine’s defense in the lawsuit and make a ruling requiring the country to pay the face value of the bonds, an unpaid coupon payment of $75 million and interest on the whole overdue debt on the bonds.
The Finance Ministry expects the hearing on the motion to be held at the end of 2016. If the court grants it, a full-scale court case will not be needed and a final ruling on the substance of the case could be made at the beginning of 2017.
