The business court of Kyiv has obliged the National Bank of Ukraine (NBU) to present evidence requested by the Arbitration Court of Moscow in a lawsuit between Cypriot DRGN Limited (claimant) and Russia's Ministry of Finance, the State Council, the Council of Ministers and the Ministry of Finance of the self-proclaimed Republic of Crimea (defenders) over the collection of a debt on Crimea's bonds.

The court ordered this on April 5, 2016.

The court order did not specify the list of evidences requested by the Moscow court.

The court schedules the next hearing for April 20. The presence of the NBU representatives on this meeting is mandatory. If the NBU fails to present evidences, the bank is to file written explanations.

The state register of court ruling has no information on the results of the hearing held on April 20.

As reported, Cypriot DRGN Limited on April 6, 2015 lodged a claim with the arbitration court of Moscow against the Finance Ministry of Russia, the State Council of Crimea, and the Council of Ministers of Crimea, worth 82.096 million Russian rubles, demanding payment under liabilities for bonds of the Supreme Council of Crimea, issued in 2011 and which matured on June 20-22, 2014.

The claim is an individual claim made by the Cypriot company which bought bonds from Dragon Capital as the underwriter.

The claim is estimated at EUR 1.142 million without interest for the use of third parties' assets accrued by the date when the court's ruling will have to be executed.

The hearings have been rescheduled several times before.

The issue of the Crimean bonds was registered by Ukraine's State Securities and the Stock Market Commission on June 14, 2011.

A Series bonds were issued to the tune of UAH 133 million with a 14.5% interest rate per annum and quarterly coupon payments.

The funds raised from the placement of the bonds were used to develop local infrastructure in Crimea.