The Weekly Law Reports
[2023] 2 WLR 699
Supreme Court
The Law Debenture Trust Corpn plc
v
Ukraine
[2023] UKSC 11
2019 Dec 9, 10, 11, 12; 2021 Nov 11; 2023 March 15
Lord Reed PSC, Lord Hodge DPSC, Lord Lloyd-Jones, Lord Kitchin JJSC, Lord Carnwath
International law— Exercise of sovereign authority— Contract— Russian Federation acquiring entire issuance of Eurobond notes issued by Ukraine— Trust deed constituting notes governed by English law with English courts having exclusive jurisdiction— Trustee at Russia’s request bringing claim against Ukraine in respect of non-payment of sums due under notes— Whether Ukraine having real prospect of successfully defending claim— Whether Ukraine having capacity to issue notes— Whether Ukrainian Minister of Finance having ostensible authority to agree to issue of notes— Whether Ukraine having arguable defence of duress— Whether Ukraine having arguable defence that payment withheld under doctrine of countermeasures