Kyiv's Holosiyivsky district court has ordered to halt all payments on Ukraine's $3 billion eurobonds issued as part of the trust agreement with The Law Debenture Trust Corporation Plc dated December 24, 2013 and bought by Russia using funds from the National Welfare Fund (NWF).
The ruling was issued on May 30, 2016 under a claim of an individual or a company whose name is not disclosed against Russia. The claimant asked for compensation for moral and material losses caused by Russia's military aggression against Ukraine and occupation of a part of the territory of Luhansk region by Russia.
"[The court orders] the arrest of any claims under the trust agreement and prohibit any public agencies from making any steps aimed at changing and terminating of the agreement," the court ruling says.
The court banned Ukraine's Cabinet of Ministers, Finance Ministry, the State Treasury and the National Bank of Ukraine (NBU) and other public agencies from carrying out any actions linked to payments on these eurobonds. The ruling shall have immediate effect.
The ruling can be appealed in Kyiv's court of appeals during five days from the moment of its announcement. The challenging procedure does not suspend its execution of this ruling.
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