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Court Of Appeals Won't Stay Russian Bank's $20M Loan Suit

Law360, London (December 18, 2018, 6:42 PM GMT) -- An appeals court in London on Tuesday refused to halt a Russian bank's $20 million lawsuit accusing International Bank of Azerbaijan of failing to repay a loan after the Azeri lender restructured amid financial woes, saying the bank can't permanently stop English creditors from pursuing their claims.

Three justices sitting for the Court of Appeal unanimously dismissed a challenge by International Bank of Azerbaijan, or IBA, to a December 2017 ruling by Robert Hildyard saying the Azeri lender's attempts to reinstate a moratorium preventing creditors from taking action without court permission would prejudice Sberbank of Russia as well as other English...

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