LONDON, January 22. /TASS/. The Court of Appeal of England and Wales can take a decision on the appeal filed by Ukraine against the decision of the High Court of London on $3 bln debt to Russia within three months, a lawyer of The Law Debenture Trust Corporation told reporters on Monday.
The Court of Appeal of England and Wales started the review of the Ukraine’s appeal against the decision of the High Court on London earlier today. Vice President of the Civil Division Elizabeth Gloster presides over the court session
"The judge should announce her decision after completion of hearings. Most likely, this will be on Friday. She will most probably take time to issue the decision. I think it will be about three months," the lawyer said.
Russia bought Ukrainian Eurobonds worth $3 bln in December 2013 at the expense of resources from the National Wealth Fund. Ukraine defaulted on Eurobonds in December 2015. Russia approached the High Court of London with a request to recover the debt from Ukraine in February 2016 after numerous attempts to settle the matter out of court.
In March 2017, the London court bound Ukraine to pay to Russian the par value of bonds worth $3 bln and $75 mln of coupon revenue and default interest. On May 29, 2017, London’s High Court rejected all of the objections by Ukraine under Russia’s lawsuit. The court thus upheld Russia’s position on the case’s expedited hearing.
On June 23, 2017, Ukraine’s finance ministry filed an appeal to the London Court in the Eurobond case of $3 bln debt to Russia.