Noble Capital RSD took the case to a US federal court, demanding that Russia pay over $225 billion. The claim covers government bonds issued by Tsarist Russia in December 1916, which were to be repaid in 1921. After the Bolsheviks took power, the new authorities refused to recognize these obligations.
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According to Noble Capital, the fund holds bonds with a nominal value of USD 25 million, and the sum requested includes over a hundred years of accrued interest. Lawyers representing the fund also demand that the American authorities take over frozen Russian assets as a form of debt repayment.
Russian institutions in the crosshairs
The lawsuit was filed against the Russian Ministry of Finance, the Central Bank and the National Wealth Fund. So far, the Russian government has not commented on the case.
The Philadelphia law firm Marks & Sokolov, representing Russia, returns attention to serious doubts regarding the validity and enforceability of such old commitments.
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Representatives of the law firm emphasize that the case raises many legal questions, especially in the context of over a hundred years since the bond issue and the political changes that took place after the October Revolution.
