Source: UK Supreme Crt to hear Ukraine’s debt to Russia case Dec 9

LONDON, Sep 4 (PRIME) -- The Supreme Court of the U.K. will hear a case on Ukraine’s U.S. $3 billion debt to Russia on December 9, a source representing one of the sides at court told PRIME on Wednesday.

“Hearing of the case was scheduled for December 9,” the source said, adding that the court will consider decisions of several lower courts.

Russia bought the 2-year Eurobond in December 2013 and later rejected restructuring conditions offered by Ukraine to its commercial creditors. Kiev insisted that the terms of debt repayment to Russia should be the same as for private creditors. The International Monetary Fund recognized the debt as sovereign.

The High Court of Justice in London ruled in Russia’s favor in 2017, but Kiev won an appeal against the decision in September 2018 as the court ordered a more in-depth investigation into a claim that Russia coerced Ukraine into borrowing the money.

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