Regional news: Russian Federation

BVI court to consider impact of Russia sanctions on receivership

A British Virgin Islands court is gearing up to consider the impact of Russia sanctions on receivers appointed over a local entity for the benefit of Russia’s VTB Bank, which is seeking to enforce a US$30 million judgment debt against a Ukrainian businessman and politician.

15 March 2022

Hogan Lovells advising as Russia sanctions claim first investment bank

Special administrators have been appointed over a London-headquartered investment bank, after it was left with serious liquidity issues when Russia introduced capital controls earlier this week in response to Western sanctions.

04 March 2022

UK appeal court sets aside Russian bankruptcy recognition

A UK appeal court has set aside a decision recognising the Russian bankruptcy of former Vneshprombank owner Georgy Bedzhamov and remitted the case back to the High Court, so he can be cross-examined on claims that a guarantee on which the bankruptcy rests had been forged.

21 January 2022

Administrator and former directors to represent claimant in arbitration

A Latvian bank's insolvency administrator can represent it in an arbitration against the Baltic state – but an ancillary claim over whether his appointment constituted a treaty breach should be argued by the bank’s former directors, an arbitral tribunal has ruled.

23 September 2021

London court recognises Russian oligarch’s bankruptcy

An English court has recognised the bankruptcy of Georgy Bedzhamov, the former owner of insolvent Russian bank Vneshprombank, but has refused to entrust his UK properties to his foreign trustee.

16 August 2021

Russian receiver accused of corruption in California recognition action

A bankrupt Russian businessman has opposed a Chapter 15 application filed by the liquidator of his estate in California, after accusing him of undertaking fraudulent acts to help former politician Ashot Yegiazaryan evade payment of an arbitral award.

08 July 2021

Gazprombank challenges DTEK’s English schemes

The Swiss branch of Russia’s Gazprombank has told an English court that one of Ukrainian coal miner DTEK’s English schemes does not have a “real prospect” of being recognised in key foreign jurisdictions following Brexit.

13 May 2021

Heads-Up: Simon Bushell at Seladore Legal in London

Featured in Heads-Up

“Many people are going to be sympathetic to the plight of those forced into potential insolvency by the pandemic, but the reality is there'll be lots of restructurings.” Simon Bushell, co-founding partner at Seladore Legal in London, discusses his career as a disputes lawyer specialising in cross-border fraud and asset recovery – and his recent use of cross-border insolvency tools with the aim of helping a Russian bankruptcy trustee realise assets across Europe.

05 March 2021

Freezing injunction? That ship sailed with recognition, court says

English courts might have jurisdiction in the strict sense to extend an interim freezing injunction after a debtor’s bankruptcy has been recognised in the UK – but to exercise that jurisdiction would set the UNCITRAL Model Law loose from its "insolvency moorings", a judge has found.

25 February 2021

Russian bankrupt opposes freezing injunction extension following recognition

Once foreign bankruptcy proceedings have been recognised, the English courts lack “small j jurisdiction” to continue a pre-recognition freezing injunction against the debtor, counsel to a bankrupt Russian businessman argued this week – ahead of a new recognition hearing in the Isle of Man.

19 February 2021

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