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LONDON - JPMorgan Emerging Europe, Middle East & Africa Securities plc (JEMA), part of the financial giant JPMorgan, has received a postponement for an appeal hearing in Russia, according to a recent announcement. The hearing, which involves a claim made by VTB Bank for $439 million against eight J.P. Morgan legal entities and JEMA, has been rescheduled for May 28, 2025.
The lawsuit, previously disclosed by the Board of JEMA, has been a point of contention as VTB Bank seeks to recover the substantial sum. However, the Russian court’s decision to postpone the appeal hearing means that no seizure of J.P. Morgan’s assets will occur until at least the new hearing date. This development provides temporary relief for the financial services company amidst ongoing legal challenges in Russia.
JEMA’s management has assured that there will be no asset seizure under the VTB judgment during this period and has committed to keeping clients informed as the situation evolves. The Board of JEMA has also stated that it will provide further updates once the court decision is announced.
Investors and clients of JPMorgan and JEMA are closely monitoring the situation, as the outcome of the legal proceedings could have significant financial implications. The postponement offers additional time for the involved parties to prepare for the appeal hearing.
The London Stock Exchange (LON:LSEG) has disseminated this information through RNS, its news service, which is authorized by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280). The news is based on a press release statement from JEMA, and further details are expected to be made available following the court’s decision later this year.
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