UK Supreme Court to hold hearings on so-called "Yanukovych loan" this week

The Supreme Court of the United Kingdom will hold hearings in a case between Russia and Ukraine regarding the so-called "Yanukovych loan", worth US$3 billion, on December 9-12.

The appeal has been filed by The Law Debenture Trust Corporation p.l.c., representing the Russian Federation.

It is noted the justices are Lord Reed, Lord Carnwath, Lord Hodge, Lord Lloyd-Jones, Lord Kitchin.

As was earlier reported, the High Court of Justice in January 2016 began to consider Russia's claim against Ukraine on the latter's eurobonds worth $3 billion. Kyiv considers the loan as the Kremlin's "bribe" paid to the former Ukrainian authorities for rejecting Ukraine's European aspirations. The Russian side insists on the repayment of the loan.

In March 2016, the court approved an expedited consideration of the Russian lawsuit, but Ukraine appealed against the ruling.

In late July, the court satisfied the motion of Ukraine to fully suspend execution of the court decision until the end of the appeal's consideration.

In January 2018, the Court of Appeal postponed the decision for a later date.