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Sri Lanka Asks US Court to Dismiss Bondholder Suit Over Default

Sept. 23, 2022, 3:39 PM

Sri Lanka asked a US judge to throw out a lawsuit over the South Asian country’s debt default, saying the case brought by one bank is an “apparent attempt to gain leverage over a nation in crisis and jump ahead of other foreign creditors.”

Hamilton Reserve Bank Ltd., which says it holds more than $250 million of Sri Lanka’s dollar bond that was due in July, filed the suit that month seeking full payment of principal and interest. The bank says it holds more than 25% of the bonds, which would likely enable it to block an undesired modification to ...