Julius Baer is facing a difficult choice — ignore a top UK court decision to release more than $500 million held for a sanctioned billionaire or pay out the money and risk the ire of the US Treasury, which sanctioned Bidzina Ivanishvili last year.
The dilemma became a reality this week. The Privy Council, the top tribunal for cases in many British territories, dismissed five of six appeals brought by the defunct Credit Suisse against the decision of a Bermuda court to award the Georgian more than $600 million in damages.
By mutual agreement, $75 million in damages was ...
