London or Paris: which is the club for Russia's Ukraine debt?

LONDON (Reuters) - A legal conundrum is threatening plans to ease Ukraine's debt burden and possibly its entire $40 billion (26.88 billion pounds) IMF-led bailout: should a $3 billion Eurobond held by Russia be classed as bilateral sovereign debt or a plain vanilla bond?

Kiev is trying to persuade holders of its Eurobonds to swap them for new ones with a lower face value, a reduced interest rate and a longer repayment period.