The Legal 500

Russian Court Decision sends shockwaves among Financial Institutions

August 2009 - Finance. Legal Developments by Magisters.

More articles by this firm.

In recent months many defaults on bond issues have already occurred or can be expected in the nearest future. Many Russian borrowers face substantial difficulties in repaying their debt or interest payments. A number of disputes have already been filed in courts, while some other bond issuers and bondholders are still attempting to settle or restructure their obligations. However, the latest Ruling of the Federal Arbitration Court of Moscow District threatens to undermine the judicial practice.

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