Tue 03/05/2024 20:13 PM
Reorg Asia Highlights:
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Sri Lanka is requesting from the District Court for the Southern District of New York a further five-month stay over the $250 million damages suit brought by Hamilton Reserve Bank, or Hamilton, in respect of the sovereign’s defaulted $1 billion 5.875% bonds due July 2022, or Bonds;
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Hamilton has stated it will oppose the extended stay on the basis that Sri Lanka has not made enough progress in its restructuring of debt owing to its private creditors;
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