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“ Ukraine has to build the reputation of the country as a reliable place to do business. ”
Igor Mazepa, CEO of Concorde Capital investment company, comments the victory of the holders of Privatbank Eurobonds in a London court
The London International Arbitrage Court (LCIA) ruled on July 25, 2019 in favor of the holders of Privatbank Eurobonds in a conflict over payments that were made before the bank’s nationalization for a total sum of USD 335 mln.
It seems that Privatbank will have to pay Eurobond holders and, probably, the interest that accumulated during three years – comments Igor Mazepa.
The London Arbitrage Court made its ruling confidential. So all that’s known is that the bank will have to pay something, and that not all the Eurobond holders can make claims on equal payments.
Most likely, supposes Igor Mazepa, the best chances for compensation will be enjoyed by those Eurobond holders who bought their securities before June 14, 2019, inform the Madison Pacific Trust about this by August 13 and won’t draw comments from the legal counsel of Privatbank.
It seems that Privatbank will be able to save a bit on its payments and will be able to compensate all the USD 335 mln with interest – summarizes Igor Mazepa.
Copyright © 2018 Igor Mazepa