Asset Manager Can't Get Interest Ahead Of $50M Loan Trial

Law360, London (July 10, 2019, 7:23 PM BST) -- A Luxembourg-based asset manager accusing a Russian billionaire's company of defaulting on a $50 million loan lost its request for a ruling that it's owed a missed $885,000 interest payment before the broader case heads to trial.

The order from Christopher Hancock QC, sitting as a judge of the High Court, rejected WRM Capital Asset Management's request for summary judgment on its claim for payment of the allegedly due $884,722 interest installment on the loan. But the order does require Crownmark Ltd., the company set up by Russian businessman Mikail Shishkhanov, to submit that amount to the court as a condition...

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