Enyo Law successfully defended Gennadiy Bogolyubov, a Ukrainian ultra-high net worth businessman, against a $300million claim brought against him by the Russian state-owned oil company, Tatneft.
The claim alleged that Mr Bogolyubov and others diverted $300 million of funds intended for payment of oil, through companies owned or controlled by Mr Bogolyubov and Mr Kolomoisky.
The Court held that Tatneft and its commission agent had knowledge of the alleged violation of rights and of the identities of the Defendants for more than three years prior to the issue of proceedings. This meant the claim was time-barred under the applicable three-year limitation period in Russian law.
In the longest Commercial Court trial conducted remotely, factual and expert evidence was given from multiple locations around the world and used simultaneous interpretation.
In reaching this conclusion, Mrs Justice Moulder found that “all four witnesses called for Tatneft on limitation [had been] evasive, unreliable and in some instances likely to be not telling the truth” and drew adverse inferences from Tatneft’s “striking” failures to adduce evidence from key individuals and to preserve relevant documents.
Members of 3VB acted for Mr Bogolyubov throughout the course of the litigation, including at a significant interlocutory hearing at which Mr Justice Picken set aside a worldwide freezing injunction obtained by Tatneft, as well as in Tatneft’s subsequent appeal to the Court of Appeal.
This judgment offers important guidance as to the application of the limitation period for tortious claims provided by Article 200(1) of the Russian Civil Code and as to the meaning of ‘harm’ in Article 1064 RCC.
Read the full judgment.