LONDON, March 29 An UK court ruled on Wednesday
that Ukraine did not provide "justifiable defence" in a $3
billion Eurobond case brought by Russia against Kiev and that it
would not be right for the case to go to full trial.
Judge William Blair said in the pre-trial hearing that the
court had given the case careful consideration but added:
"Ultimately this is a claim for repayment of debt
instruments to which the court has held there is no justificable
defence. It would not be right to order the case to go forward
to a full trial in these circumstances."
Russia had requested a summary judgement - a move often used
to speed up procedures - meaning the court after examining
Ukraine's defence arguments would decide if they are likely to
stand up in court. Both sides can appeal the judgement.
Ukraine's lawyer asked the court for an interim stay of
The case centres around a $3 billion Russia lent in
December 2013 to Ukraine under former President Viktor
Yanukovich in the form of a Eurobond governed by English law.
Moscow wants the bond to be repaid in full but Kiev insists
Russia should have participated in a 2015 restructuring of
(Reporting by Sujata Rao)