JSC Mezhdunarodniy Promyshlenniy Bank & Anor v Pugachev & Ors [2015] EWCA Civ 906

WTLR Issue: December 2015 #155

JSC MEZHDUNARODNIY PROMYSHLENNIY BANK

STATE CORPORATION 'DEPOSIT INSURANCE AGENCY'

V

SERGEI VIKTOROVICH PUGACHEV

KEA TRUST COMPANY LIMITED

FINETREE COMPANY LIMITED

BRAMERTON COMPANY LIMITED

BLUERING COMPANY LIMITED

MARU LIMITED

HAPORI LIMITED

MIHARO LIMITED

AROTAU LIMITED

LUXURY CONSULTING LIMITED

VICTOR SERGEYEVITCH PUGACHEV

Analysis

In 1992 Mr Pugachev founded the first claimant bank (Mezhprom). In November 2010 the Moscow Arbitrazh Court declared Mezhprom to be insolvent, opened liquidation proceedings and appointed the second claimant (the DIA) as liquidator. On 25 January 2011 the Russian authorities began a criminal investigation with regard to the insolvency of Mezhprom and three days later Mr Pugachev fled Russia. On 2 December 2013 the claimants began proceedings against Mr Pugachev in the Moscow Arbitrazh Court.

Counsel details

Counsel Ben Griffiths, Tim Akkouh and Patrick Harty (Erskine Chambers, 33 Chancery Lane, London, WC2A 1EN, tel 020 7242 5532, e-mail clerks@erskinechambers.com) instructed by Hogan Lovells (Atlantic House, Holborn Viaduct, London, EC1A 2FG, tel 020 7296 2000, e-mail enquiry@hoganlovells.com) for the claimants.

Legislation referenced

Legislation in bold has further reading - click to view.