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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST

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To: lorne who wrote (34767)6/2/1999 11:11:00 AM
From: John Hunt  Read Replies (1) of 116764
 
Investor group may sue Russia

<< A new and growing association of institutional investors is considering filing suit in London to pressure Russia to make $855 million in Soviet-era debt payments which are due June 2, the chairman of the group said Friday.

''If Russia fails to remedy the default, we may take legal action in the London courts, because the underlying loan agreements are subject to United Kingdom law,'' the group's chairman Marc Helie told Reuters.

If investors do go to court and win, Helie said Russia could be ordered to make not only the past-due Soviet debt payments but the entire $22 billion in outstanding principal notes (PRINs) and $6 billion of interest arrears notes (IANs) ... more ... >>

biz.yahoo.com

Lotsa luck guys ... Should have bought gold!

< g >

John



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