Privy Council Finds Cukurova Can Recover Shares, Must Pay Interest

Privy Council Finds Cukurova Can Recover Shares, Must Pay Interest

LONDON - The Privy Council of the United Kingdom on July 9 found that Cukurova Finance International Ltd. and a related entity are entitled to recover shares that were issued under a loan agreement on a condition that they return $1.5 billion in interest, which has been held in an escrow account (Cukurova Finance International Limited v. Alfa Telecome Turkey Limited, No. $(2013$) UKPC 20).

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