$225 Billion Claim Filed Over 1916 Russian Bonds
Economy
U.S.-based investment fund Noble Capital RSD has filed a lawsuit in a federal court seeking to recognize Russia’s obligations on bonds issued by the Russian Empire in 1916, according to RBC.
The claim amounts to $225.8 billion and names the Russian Federation, the Central Bank of Russia, and the National Wealth Fund as defendants. The fund argues that Russia inherited the imperial-era debt through legal succession from the Soviet Union.
Noble Capital RSD proposes settling the claim using frozen Russian assets held abroad. RBC notes that the lawsuit may represent an attempt to create a private-law mechanism for accessing the frozen funds.
Legal experts, however, say the chances of Russia acknowledging or repaying such historic debt are extremely low.
Noble Capital RSD proposes settling the claim using frozen Russian assets held abroad. RBC notes that the lawsuit may represent an attempt to create a private-law mechanism for accessing the frozen funds.
Legal experts, however, say the chances of Russia acknowledging or repaying such historic debt are extremely low.
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