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Litigation against Sri Lanka by Hamilton Reserve Bank Ltd on defaulted ISBs diluted

InternationalOct 23, 2022
Litigation against Sri Lanka by Hamilton Reserve Bank Ltd on defaulted ISBs diluted
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As per the Attorney-at-Law Manjuka Fernandopulle, Hamilton Reserve Bank (HRB) has become redundant after it was forced to drop the 2nd and 3rd claims made under the pari passu clause of the indenture of the International Sovereign Bond (ISB).

He further states “ it appears that HRB has accepted defeat in the novel hold-out strategy it had previously relied on”. It would be in the bank’s best interests to take part in the debt restructuring process with other creditors going forward, he noted. 

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