Asset Manager Enters Settlement Talks In $50M Loan Fight

Law360, London (August 14, 2019, 8:59 PM BST) -- A Luxembourg-based asset manager's suit against a Russian billionaire's company over a $50 million loan has been put on hold until November to give the two sides time to reach a settlement.

If a deal has not been reached by Nov. 4, a case management conference should be scheduled to plot out the litigation's next steps, Judge Christopher Bucher said in his Monday order.

Athena Capital's suit claims Crownmark Ltd., set up by Russian businessman Mikail Shishkhanov, missed an interest installment payment on a $50 million loan, giving the asset manager the right to tear up the entire loan deal.

After meeting the...

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