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LONDON - JPMorgan Emerging Europe, Middle East & Africa Securities PLC (JEMA) announced Thursday that court hearings in Russia regarding lawsuits filed by Russian banks against the company and other J.P. Morgan entities have been postponed to new dates.
According to the company’s statement, VTB Bank’s claim for $81.3 million has been rescheduled to July 30, while its claim for $74.5 million will be heard on September 24. A third VTB claim for €108 million has been postponed to August 27. Additionally, Sberbank’s claim for $830,183 has been rescheduled to September 8.
The lawsuits, previously disclosed in announcements between January and July 2025, involve claims against eight J.P. Morgan legal entities including JEMA.
In the update, JPMorgan Funds Limited, JEMA’s Manager, stated that J.P. Morgan "continues to take appropriate legal and regulatory steps, including, where applicable, challenging claims and appealing judgments."
The statement noted that protections under Russian domestic legislation regarding client assets, including those under Decree 8, remain in place. However, the company cautioned that these claims might constitute a Force Majeure and/or Country Risk event as defined in client contracts.
The London Stock Exchange (LON:LSEG) announcement indicated that JEMA’s Board will provide further updates as the cases progress.
This information was provided in a press release statement issued by the company.
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