KK&P Trial Lawyers Defends Euroclear in €200 Billion Dispute

A KK&P team led by Managing Partner Maxim Kulkov and Partner Oleg Kolotilov is representing Euroclear, the international central securities depositary, in its dispute with the Central Bank of Russia over frozen assets subject to EU sanctions.

The Commercial Court of Moscow has considered the Central Bank’s claims seeking approx. €200 billion in damages, covering both immobilised assets and lost profits. The dispute is one of the largest cases arising from sanctions enforcement and the treatment of sovereign assets.

“Euroclear’s right to a fair trial has been violated. Unfortunately, the closed nature of the proceedings and the replacement of the judge the day before the hearing did not allow for a full and fair defence,” comments Maxim Kulkov, Managing Partner.

“This is one of the most significant disputes in modern litigation in terms of the value of the legal claims. We are doing everything possible to protect our client’s interests,” adds Partner Oleg Kolotilov.

Euroclear has already announced its intention to appeal the judgment. The case is expected to set a new case law precedent that will have implications far beyond any single jurisdiction.

For more details, see the full article in Global Arbitration Review: https://globalarbitrationreview.com/article/russian-court-orders-euroclear-pay-eu200-billion