The Weekly Law Reports
[2017] 3 WLR 667
Queen’s Bench Division
The Law Debenture Trust Corpn plc
v
Ukraine
[2017] EWHC 655 (Comm)
2017 Jan 17,
18,
19;
March 29
March 29
Blair J
International law— Exercise of sovereign authority— Contract— First sovereign state issuing tradable Eurobonds— Second sovereign state acquiring entire issuance— Acts of second state allegedly causing first to default— Trustee at request of second state bringing claim against first state for final repayment amount and applying for summary judgment— Whether transaction void for first state’s lack of capacity or finance minister’s lack of authority— Whether trade restrictive measures or threats of use of force by state against another affecting private law contract justiciable— Test for implication of terms in transferable financial instruments— Whether English court competent to rule on countermeasures in public international law— Whether acts of aggression by second state constituting other reason to proceed to full trial despite first state having no real prospect of defending claim— Whether summary judgment to be granted
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