Enyo Law has a long track record of advising clients in or with links to Central and Eastern Europe and Eurasia.
Our team has acted on some of the largest and most prominent disputes with links to Central and Eastern Europe and Eurasia. This includes Berezovsky v. Abramovich, PrivatBank v. Bogolyubov & Others, PJSC Tatneft v. Bogolyubov & Others and representing the Russian bank "Bank Vostochny" (Orient Express Bank) in the lifting of an anti-suit injunction against it imposed as part of an acrimonious arbitration between its shareholders.
As a result, our team consists of a number of professionals that understand the common commercial, political and cultural intricacies as well as the legal issues emanating from this region.
Our Central and Eastern Europe and Eurasia related experience includes the following matters:
PJSC Tatneft v Bogolyubov & Others
Privatbank v Kolomoisky & Bogolyubov
Enyo Law acts for Gennadiy Bogolyubov, a Ukrainian high net worth businessman, in defence of two claims brought in the English High Court alleging fraud. Both claims involve vigorously contested worldwide freezing orders and raise political questions.
One claim was brought by a Russian oil & gas company, Tatneft, and alleges that Mr Bogolyubov and others conspired to divert £400 million of oil payment funds using companies owned or controlled by Mr Bogolyubov and Mr Kolomoisky. A twelve week trial took place in October 2020 with the High Court completely dismissing the claim in February 2021 on the basis that the claims, which were brought under Russian law, were time barred. Read our latest article on the successful defence of proceedings.
The second claim is brought by PrivatBank, the largest bank in Ukraine, which Mr Bogolyubov and Igor Kolomoisky established and owned prior to its expropriation by the Ukrainian state. PrivatBank alleges that fraudulent related party loans of in excess of $2 billion were made to companies associated with Mr Bogolyubov and/or his business associate, Mr Kolomoisky. Mr Bogolyubov’s response to the claim has included a challenge to the jurisdiction of the English court. This involved several legally complex areas of private international law, including aspects of the Lugano Convention and Recast Brussels Regulation.
Erste Bank AG, London branch v JSC ‘VMZ Red October’ & Ors
Enyo Law represented a wholly-owned subsidiary of the Russian state defence corporation in a jurisdiction challenge before the High Court and subsequently, on appeal to a claim brought by a member of a banking syndicate against an insolvent Russian borrower and guarantor and six other Russian defendants.
In the proceedings it was alleged the Defendants had conspired to render the borrower and guarantor insolvent. The Claimant formed part of a banking syndicate to which the total exposure was $100 million. The application contesting jurisdiction was dismissed at first instance but successfully overturned, with the Court of Appeal holding, amongst other things, that Russia was the most appropriate forum for the claims against Enyo Law’s client and five other Defendants, notwithstanding the existence of English law and jurisdiction clauses in the loan documents.
TNK-BP joint venture disputes
Representing Leonid Lebedev against Leonid Blavatnik and Viktor Vekselberg in relation to disputes concerning Lebedev’s interest in the TNK-BP joint venture, which was acquired by Russian oil company Rosneft in 2013 for the reported sum of $55 billion.
Acting for Mr Mikhail Shlosberg in relation to a sophisticated matrix of litigation arising out of investments in a multinational aluminium business.
Representing Russia’s Rusnano Group in relation to fraud claims against a former employee in the English High Court as well as linked proceedings in several offshore jurisdictions in Europe and the Caribbean.
Star Phoenix Group Ltd v. Georgia
Representing Star Phoenix Group Ltd, an international company, on their claim against the government of Georgia under an Energy Charter Treaty.
HSBC Trustees v. OJSC Nadra Bank
Representing Nadra Bank in a claim against it by HSBC Trustees as trustee in respect of loan notes issued by Nadra Bank under an alleged guarantee with a face value of $61 million. The proceedings involved several offshore jurisdictions as well as England and multiple noteholders.
North Shore Ventures v. Anstead Holdings & Ors
Acting for the successful Claimant / Respondent associated with Boris Berezovsky, North Shore Ventures, in proceedings for the enforcement of a guarantee (including subsequent appeals) and subsequent appeal by the Defendants.
In one of its judgments, the Court of Appeal gave valuable guidance on the issue of “control”, by former discretionary beneficiaries, of relevant documents held by trustees based out of the jurisdiction. The proceedings also involved a worldwide freezing order, interim charging orders, the coordination of multiple applications and proceedings in St Kitts & Nevis and satellite proceedings in Ufa, Russian Federation (North Shore Ventures v Anstead Holdings & Ors  EWCA Civ 11; North Shore Ventures Ltd v. Anstead Holdings Inc  EWHC 1485 (Ch); &  EWCA Civ 230).
Berezovsky v. Edmiston
Acting for Boris Berezovsky in relation to a dispute concerning the commission arising out of a sale of a superyacht. Enyo successfully appealed the first instance decision with the Court of Appeal providing guidance on what should be considered to be a "reasonable rate of commission" (Berezovsky & Others v. Edmiston Co Ltd & Others  EWHC 1883 (Comm); &  EWCA Civ 431).
Estate of Boris Berezovsky
Acting for one of the largest creditors in the insolvent estate of Boris Berezovsky. Enyo Law lead a contest to the appointment of the trustee and advised a member of the creditors committee.
- Advising a Russian/Dutch multinational in a significant ICC arbitration concerning delays to a major commodities asset and associated joint venture issues.
- Acting for a Russian mining and metals group in a series of LCIA arbitrations in London.
- Acting for a joint venture owned by major Russian and Italian banks in a $70 million LCIA arbitration claim against its co-partner arising out of breaches of a shareholders' agreement concerning the oil and gas sector in Russia.
- Representing a major Ukrainian industrial group in LCIA arbitration (and related proceedings) in relation to the acquisition of a significant equity stake of a major bank.
- Representing a Middle Eastern bank in LCIA arbitration proceedings concerning a joint venture in an Armenian bank.