Ukraine and Russia have not just been military foes in recent years, but legal ones too. In 2015 Ukraine reneged on a $3 billion bond repayment to Russia. In response the Law Debenture Trust Corporation, which represents Russian creditors, sued Ukraine in London. Earlier this year a court granted the trustee’s request for a speedy judgment without a full trial. But on September 14th, in a surprise twist, the appeals court overturned that decision. An English court will have to decide whether Ukraine’s defence, that Russia forced it into the debt by acting illegally, holds water. It is the first time a domestic court will effectively adjudicate on a dispute between two sovereign states.
Russia's War Against Ukraine
The Economist: A $3 billion debt dispute between Russia and Ukraine may go to trial
A picture taken on July 9, shows the Kremlin in Moscow.
