Ukraine's Victory in the UK Supreme Court

More than three years after hearing argument, the U.K. Supreme Court finally handed down a decision in Russia's $3 billion bond dispute with Ukraine. The dispute probably shouldn't be in a domestic court at all (functionally, it is a dispute over a bilateral loan between sovereign states). But that's where it is, and the U.K. Supreme Court ruled in favor of Ukraine's duress defense, which now can go to trial. Our guest, Nate Oman (William and Mary) is a guru of contract law (and many other things). Nate helps us think through Ukraine's duress argument, the U.K. Supreme Court's rulings about the borrowing capacity and authority of states and their officials, and how the law of restitution fits into all of this.

Producer: Leanna Doty