Britain`s High Court to decide on Ukraine`s Yanukovych debt later due to complexity

The High Court in London has rescheduled its verdict due to be taken on May 26 on Russia`s claims against Ukraine after the Ukrainian government defaulted on $3 billion in bonds issued by Russian President Vladimir Putin in December 2013 to bail out his former Ukrainian counterpart and ally, Viktor Yanukovych, just months before the latter was toppled and fled to Russia, according to the Ukrainian Finance Ministry.

”At a hearing before Mr Justice Blair in the High Court in London on May 26, 2017, the Judge considered various outstanding matters that follow on from the summary judgment decision issued by the Court on March 29, 2017. In particular, the Court heard Ukraine`s application for a further suspension of the judgment becoming executable until such time as Ukraine`s appeal to the English Court of Appeal has been concluded, which would not be before 2018,” the ministry reported on its website on Friday, May 26.

”Given the complexity of the involved issues, the Judge decided to reserve his Judgment. The Judge will therefore take some time following today`s hearing to consider matters further, before issuing his decision in due course,” it said.

As UNIAN reported with reference to Finance Minister Oleksandr Danyliuk, the court on March 29 approved a motion for expedited consideration of Russia`s lawsuit against Ukraine regarding the so-called ”Yanukovych $3 billion debt,” having not recognized the validity of Ukraine`s arguments in this case. Yet, the court authorized Ukraine`s appeal against the ruling and temporarily froze any debt recovery action.

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