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New York court grants Russian bank Chapter 15 protection, dismisses “national security” arguments

By Tom Rhys Davies

17 February 2017

New York court grants Russian bank Chapter 15 protection, dismisses “national security” arguments iStockphoto.com/200mm

A New York judge has recognised the Russian insolvency proceedings of one of the country’s biggest banks, despite arguments from opponents that aiding Russian authorities in administering the case stands at odds with the US stance on the Russian annexation of Crimea.