The London International Arbitrage Court (LCIA) ruled on July 25, 2019 in favor of the holders of PrivatBank Eurobonds in a conflict over USD 335 mln in payments that were made before the bank’s nationalization in 2016.
Therefore, it seems that PrivatBank will have to pay at least some of the Eurobond holders and, probably, the interest that accumulated during the last three years – supposes 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, 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, 2019 and won’t draw comments from the legal counsel of PrivatBank – says Igor Mazepa.
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.
Comments Igor Mazepa, investment banker and CEO of Concorde Capital investment company, the victory of the holders of PrivatBank Eurobonds in a London court.