A lawsuit has been filed against Sri Lanka in the United States.
It is owned by a Sri Lankan bondholder in that country.
This is the first time in the history of the country that a bondholder has taken this step after suspending paying of loans due to the economic downturn in the country.
The case was filed by Hamilton Reserve Bank Limited, which holds 5.875% of Sri Lanka’s international sovereign bonds.
The bond holder owns more than $ 250 million due on July 25.
The lawsuit was filed in federal court in New York, USA.
The lawsuit was filed on Tuesday in New York federal court seeking full payment of principal and interest.
