Conyers Dill & Pearman advises Russian bank on the Bermuda law aspects of $3.2bn loan
Conyers Dill & Pearman’s Claire McConway has advised Sberbank of Russia on the Bermuda law aspects of a $3.2bn (£2bn) loan to Altimo Coöperatief.
The loan is intended to, among other things, pay the premium for conversion of the borrower’s preferred shares in Vimpelcom, a Bermuda company with ADRs traded on the New York Stock Exchange.
The loan was secured by a charge over the borrower’s shares in Vimpelcom.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
International co-operation in cross-border insolvencies: smoothing the path for foreign liquidators in Hong Kong
A decision of the High Court of the Hong Kong SAR should make the task of liquidators of BVI, Cayman and other foreign companies more straightforward in the region.
The BVI Arbitration Act 2013 will come into force on 1 October 2014.