Ukraine defaulted over the weekend on the $3 billion it owes in bond repayments to Russia. Moscow says it will take Kiev to court and that Ukraine has “no chance of winning.” A Bloomberg piece notes a court ruling could end in great embarrassment if a judge determines Russia already had plans to annex Crimea when the bonds were issued. The Bloomberg piece also touches on the prospects of a settlement, which would have to be approved by the IMF and Ukraine’s other creditors.