The United States District Court for the Southern District of New York has scheduled a pre-trial conference for August 26, 2022.
Clifford Chance’s Robert Houck, John Alexander, and Benjamin Berringer are representing Sri Lanka. HRB is seeking full payment from Sri Lanka of the principal and interest owed to it, totaling $ 257.5 million.
According to HRB, Sri Lanka’s decision not to restructure the Sri Lanka Development Bonds violates the equal treatment (pari passu) provision of the July 2022 bond’s indenture. As part of the bond’s collective action clauses (CACs), HRB has the authority to prevent the restructuring of that particular bond