UniCredit hit by ‘dangerous’ ruling in Russian swap dispute

russia-iw

A Russian court decision that allowed a UniCredit client to walk away from an interest rate swap without paying termination costs has stunned derivatives lawyers, left the bank with a loss and is now raising fresh questions about whether netting will work in the country. After two years of work, a legal opinion on netting is said to be close to publication.

The Moscow District Federal Arbitration Court found on January 30 that Agroterminal – a mid-cap Russian corporate – was allowed to terminate

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here