Trustee Gets OK To Make Payouts In PrivatBank Case

Law360, London (March 16, 2020, 8:44 PM GMT) -- A London judge gave a trustee for $375 million worth of securities the all-clear on Monday to meet the terms of an arbitration award and pay certain investors that have an interest in the deal, assuaging fears that doing so could have opened the trustee up to legal action.

Judge Antony Zacaroli said that Madison Pacific Trust Ltd. cannot be held liable for complying with an award granted by the London Court of International Arbitration in June, which set up a mechanism for making sure only certain noteholders are paid and not those connected to a fraud allegedly carried out by...

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