Saturday 27 February 2021 | About Us | Contact Us | Register for free email alerts Subscribe for full access Login
Swiss Court says bank can refuse Vekselberg transaction because of US sanctions risk
The Zurich Commercial Court has refused an application by Lamesa Holdings (owned by Viktor Vekselberg) to require a bank to process a transaction from a securities depository account it holds at Swiss bank Julius Bär in order to repay a $160m loan. The Court held that because Mr Vekselberg, a US SDN, owns Lamesa Holdings, and the securities were denominated in …
Russia
SwitzerlandAbout Michael O'Kane
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...
See profile for Michael O'Kane >