Russia’s Default Tussle With Investors Is Just Starting (Repeat)
- It’s unclear if and how a default on bonds will be declared
- Investors could be in for a long legal battle to get cash back
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(This story was originally published June. 7. On Sunday, the grace period on about $100 million of interest payments due May 27 expired, a deadline considered an event of default if missed.)
Bondholders are in for a tangled mess of financial, political and legal wrangling if sanctions push Russia to a historic default.