By Maya Lester KC & Michael O’Kane

High Court permits redemption of loan notes held by sanctioned entity by payment into court

Fortenova Grupa sought to redeem loan notes of €400m issued to Shushary in August 2019 before their maturity date in September 2023 but could not make payments to Shushary because it is a subsidiary of sanctioned VTB Bank PJSC. In a judgment on 12 May 2023, the High Court: made an order in proceedings under Part 8 CPR for the …

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About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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