'Irregular' $335M Awards Against PrivatBank Prompt UK Suit
Law360, London (September 20, 2019, 7:42 PM BST) -- The trustee for $375 million worth of securities backing loans to troubled Ukrainian lender PrivatBank has asked a London court for guidance on how to abide by its obligations to noteholders while it challenges $335 million worth of partial arbitration awards against that bank.
In witness statements and claims made publicly available earlier in the week, Madison Pacific Trust said it needs the court's assistance because the London Court of International Arbitration's June decision ordered PrivatBank to pay less than the full amount due under the loans that would leave some investors empty handed.
The trustee asked the High Court how it...
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