In a fraud case against Vladimir Kekhman, the High Court of England and Wales ruled in favour of Bank of Moscow, on whose behalf Maxim Kulkov addressed the court as an expert witness on Russian law
KK&P Managing Partner Maxim Kulkov addressed the High Court of England and Wales as an expert witness on Russian law on behalf of Bank of Moscow in a case brought against the former head of JFC Group, Vladimir Kekhman, who was accused of obtaining substantial loans on the basis of falsified documents. The opinions and evidence Maxim Kulkov provided to the court were accepted and used by the court in its ruling obliging Mr Kekhman to repay the bank the full amount of the debt.
The fraud case against Vladimir Kekhman and the entities he controlled was brought by Bank of Moscow in connection with two loans amounting to US$140 million and around 305 million roubles, granted by the bank to entities controlled by Kekhman, who concealed material facts regarding JFC being on the verge of bankruptcy.
During the proceedings, Bank of Moscow maintained that Vladimir Kekhman, as the ultimate beneficial owner, controlled JFC Group and misled the bank, deliberately disposing of the group’s assets prior to the bankruptcy. As a result, JFC Group, which had guaranteed the repayment of the loans, failed to comply with its obligations.
The expert opinions prepared by Maxim Kulkov related to matters of tort, causing harm, and corporate and insolvency laws.