VTB Bank, Oligarch's Co. Get More Time To Settle $130M Suit

Law360, London (April 1, 2019, 4:30 PM BST) -- London’s High Court has put on hold a $130 million lawsuit between Moscow-based VTB Bank and an industrial giant owned by a Russian oligarch for a second time, giving the warring sides until September to settle their debt dispute out of court.

Judge Sara Cockerill ordered a stay until Sept. 1 in the battle between Russia’s second largest bank and Oleg Deripaska’s company, Basic Element Ltd., to allow them to negotiate a settlement. The court had already paused the claim until July in a separate order issued in late 2018.

"Either party may terminate the stay by giving 14 days' written notice," Judge...

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