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USA, France and UK intervened in favour of Sri Lanka to hold back HRB case proceeding

InternationalSep 15, 2023
USA, France and UK intervened in favour of Sri Lanka to hold back HRB case proceeding

It is been reported, that the governments of the USA, France, and the UK intervened in the case filed by Hamilton Reserve Bank (HRB) in St Kitts & Nevis to delay the proceedings citing that the further proceedings of the case would adversely affect the ongoing debt restructuring process.

They have further stated that “ Significant progress has been made within the Official Creditor Committee, whose work is still ongoing. A judgment in favor of the plaintiff before the completion of the debt restructuring process would risk disrupting the ongoing negotiations by creating an incentive for holdout creditors, thereby jeopardizing the comparability of treatment between different”.

Case 1:22-cv-05199-DLC

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