Telecom Co. Gets OK To Sue Russian Bank Over 'Rigged' Sale

Law360, London (February 8, 2018, 5:29 PM GMT) -- A London judge on Wednesday gave LIC Telecommunications SARL the go-ahead to pursue a damages claim against a subsidiary of Russian state-owned JSC VTB Bank, which LIC alleges "rigged" the sale of shares in one of the main players in the Bulgarian telecom industry.

High Court Judge David Waksman ruled that the operation of a Luxembourg law on financial collateral arrangements, known as FCL, could not prevent LIC from bringing the claim. The bank’s subsidiary, VTB Capital PLC, and other alleged co-conspirators in the disputed sale of shares in Viva Telecom Bulgaria...
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