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LONDON - JPMorgan Emerging Europe, Middle East & Africa Securities PLC (JEMA) announced updates on Tuesday regarding multiple lawsuits filed against the company and eight J.P. Morgan legal entities in Russian courts.
According to a statement released by the company, the $439.5 million claim by VTB Bank is proceeding to Russia’s Court of Cassation, with a hearing scheduled for December 15, 2025. The company noted it understands, but cannot confirm, that VTB will not seek enforcement prior to the court’s decision.
Three other VTB Bank claims—for $81.3 million, $74.5 million, and €108 million—are currently under court suspension rulings, according to the update.
Additionally, a separate claim by Sberbank for $830,183 has a hearing date set for November 17, 2025.
The announcement, based on information provided by the company’s manager JPMorgan Funds Limited, indicates JEMA will provide further updates as the cases progress.
The lawsuits represent significant legal challenges for the London-listed investment company, with the combined VTB claims totaling approximately $595.3 million plus €108 million.
The company disclosed this information in a regulatory news service announcement to the London Stock Exchange, where JEMA shares are traded.
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