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Sistema Suffers Technical Bond Default After Court Order

Russian conglomerate Sistema has announced it has suffered a technical default on Rbs 3.9bn worth of debt, after a court froze more than $3bn worth of its assets as part of a legal battle with state-controlled oil giant Rosneft. Sistema on Monday announc ...

Daily Headline - global.abi.org - 07/17/2017 - 22:23 - 0 comments

The curious case of Vladimir kekhman

Russian courts, including the Supreme Court of the Russian Federation, reasoned that a foreign insolvency order did not prevent Russian courts from hearing the case under Russian insolvency law. Russian citizens do not initiate insolvency proceedings o ...

Resource Article - twallace@abiwor... - 06/30/2017 - 11:14 - 0 comments - 1 attachment

Rosneft Clears Last Hurdles for Essar Oil Takeover

The delayed $13bn takeover of India’s Essar Oil by a consortium led Rosneft has cleared its last serious obstacles, according to the Russian oil group’s chief executive Igor Sechin. Shareholders at the company’s annual general meeting in Sochi were told ...

Daily Headline - global.abi.org - 06/22/2017 - 22:27 - 0 comments

Russia's VTB Says Ready For "Dialogue" Over Mozambique Debt

VTB, Russia's second-biggest lender, is ready to talk about restructuring Mozambique's debt and has provided all the information required for a forensic audit into hidden loans to three state-owned firm to authorities, a bank's executive s ...

Daily Headline - global.abi.org - 06/05/2017 - 20:44 - 0 comments

Sberbank May Sell 1.1 Billion Euros in Loans Granted to Agrokor

Russia's largest bank Sberbank is considering selling 1.1 billion euros (920.1 million pounds) in loans it granted to indebted Croatian food and retail group Agrokor, Sberbank's First Deputy Chairman Maxim Poletayev said, the International Ne ...

Daily Headline - global.abi.org - 04/25/2017 - 21:35 - 0 comments

Russia Wins Early Verdict in $3 Billion Ukrainian Bond Case

Russia won an early verdict in a London lawsuit that may force Ukraine to repay part of a defaulted $3 billion bond, in a dispute that extended the battle over Russia’s annexation of Crimea into a U.K courtroom, Bloomberg News reported. Judge William Bla ...

Daily Headline - global.abi.org - 03/29/2017 - 21:05 - 0 comments

"Country report - Russia" by Ilya Kokorin

Following the economic downturn in the aftermath of the 2008 financial crisis, the number of insolvency applications in Russia has been fluctuating, but remained relatively stable with approx. 40,000 insolvency applications per year. Attachme ...

Resource Article - twallace@abiwor... - 02/08/2017 - 15:23 - 0 comments - 1 attachment

Russia Needs A Revolution To Reform Its Economy

When Alexei Kudrin was tasked last year with drawing up a new economic strategy for Russia, there were good reasons for the country’s leadership to countenance previously unpalatable reforms, the Financial Times reported. With the crash in oil prices ...

Daily Headline - global.abi.org - 01/16/2017 - 23:57 - 0 comments

Corporate Raiding Devastating Russian Economy

Criminal prosecutions have been opened against more than 100,000 businesspeople in Russia in the first half of this year as part of a growing problem that is devastating the Russian economy, an expert on the topic has told a Dublin audience, the Irish ...

Daily Headline - global.abi.org - 11/17/2016 - 00:25 - 0 comments

Russia's VEB Chairman Sees Difficulties Redeeming Debt In 2017

Russian state development bank VEB will manage to pay back outstanding debt next year though it will be difficult, the bank's chairman Sergei Gorkov said on Thursday, Reuters reported. Gorkov said VEB had to pay back around 250 billion rubles ($3.9 ...

Daily Headline - global.abi.org - 11/10/2016 - 22:13 - 0 comments

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