Paris Club Secretary General Philippe Guyonnet Duperat, in a letter to Judge Denise L. Cote, strongly pointed out a judgment in favour of the plaintiff Hamilton Reserve Bank Ltd. (HRB) before the conclusion of the debt restructuring process would risk disrupting the negotiations by creating an incentive for creditors to hold out.

In consideration of Sri Lanka’s return to a sustainable economic and financial trajectory, France together with Canada, Japan, Netherlands, Spain, and United Kingdom, therefore, support Sri Lanka’s request to extend the motion to stay proceedings,” said the Secretary General.