Petr Radzishevskiy

Defending Commerzbank in disputes against a large Russian bank and other companies (the total amount of claims is more than $100m). The opponents commenced disputes in connection with the freezing of their funds in accounts opened with a depository whose funds were in turn frozen in a German bank due to European sanctions. The recovery from foreign counterparties of the depository is an innovation for Russian courts, and these disputes are establishing the practice similar cases. The unprecedented complexity of the case is confirmed by the fact that the Court of Appeal has already held four hearings.

Defending ING Bank France in an $80m dispute over a claim by Sberbank arising from a syndicated loan agreement under which the client acts as a lender. Due to sanctions, Sberbank faced difficulties in fulfilling the payment schedule and appealed to the Russian court to force the amendment of the contract: this is the first – and therefore a precedent-setting – sanctions dispute in Russian related to changing the terms of the contract, allowing Sberbank to avoid default, despite the sanctions.

Successfully defending the largest manufacturer of explosives in Russia, established as a Russian-European joint venture. Due to the criminal case brought against the European beneficiaries of the client, control over the client was transferred to a Russian person as the bailee. The bailee has made a number of corporate decisions to change the client’s management bodies in order to restore its normal operations. The KK&P team successfully defended the client from the claim of foreign beneficiaries who tried to challenge these decisions.

Defending an electrometallurgical plant in a dispute over compensation for losses of over RUB 7bn caused to the customer as a result of a malfunction in an uninterruptible power supply. The client applied to the insurance company for compensation, but the insurer refuses to pay compensation, alleging that the client’s losses arose due to a terrorist attack in a neighboring region (at the Kursk Nuclear Power Plant).

Preparing a legal opinion on issues of transfer a major mining business owned by one of the richest businessmen in Russia to his heirs. The options for business transfer envisage management of the business by the beneficiary until the release of the inheritance, no splitting of the business between the heirs, and checks and balances between the heirs.

Preparing a legal opinion on ways to protect dividends paid by a major Russian company to its shareholder from third party claims on the shareholder debts.

Participation in preparing an expert report for the High Court of England in a dispute over claims by major Russian banks (one of which is our client) against the ex-co-owner of one such bank. The claimants allege that, in 2017, the opponent replaced the secured loans of claimants with maturities in 2017–2020 with low-liquid and unsecured bonds with a maturity of 15 years. The report, among other things, contains issues of joint and several liability of tortfeasors and recovery of reflective losses.