LIDW 2026 Video: The Lugovoy Law, Insolvencies of Western Companies in Russia and the Enforcement of Russian Judgments Abroad
| On 4 June, KK&P Trial Lawyers and Herbert Smith Freehills Kramer LLP co-hosted an event as part of LIDW 2026 titled:
“The Next Stage of Russian Sanctions-Related Disputes: Injunctions, Parallel Proceedings, Risks and Consequences of Russian Insolvency Procedures, and Global Recognition and Enforcement Disputes.” The discussion focused on recent developments in sanctions-related disputes, the approaches taken by English and Russian courts, the practical application of the Lugovoy Law, competing injunctions, the risks of cross-border enforcement of Russian judgments, and emerging trends in insolvency proceedings involving foreign companies. The full video recording of the event with timecodes is available here: https://youtu.be/pf3ejteaXkc Speakers
Key presentations Nikolay Pokryshkin (KK&P Trial Lawyers) New Recovery Strategies Against Western Companies: Type C Accounts, Moving Beyond the Lugovoy Law and Insolvencies of Foreign Entities in Russia 41:06 – Enforcing Judgments Against Assets Restricted by Russian Counter-Sanctions How Russian creditors are seeking to recover against receivables, Type C accounts and other assets affected by Russia’s counter-sanctions regime 45:50 – Moving Beyond the Lugovoy Law: A New Strategy for Enforcing Russian Judgments Abroad Why Russian claimants are increasingly avoiding explicit reliance on Article 248.1 of the Russian Commercial Procedure Code and reframing disputes as ordinary commercial or tort claims to improve prospects for recognition and enforcement overseas 49:36 – Insolvencies of Western Companies in Russia as a Recovery Tool for Russian Creditors How insolvency proceedings against foreign companies may be used to gain access to assets, management, shareholders and affiliated entities, even after a business has exited Russia 1:00:41 – Preparing for the Risk of Insolvency Proceedings in Russia Practical recommendations for EU, UK and US companies facing the risk of insolvency proceedings in Russia, including successful defence strategies developed in the Euroclear and Credit Suisse matters
Oleg Kolotilov (KK&P Trial Lawyers) The Lugovoy Law and Defence Strategies for Western Companies in Russian Courts 14:07 – How the Lugovoy Law Has Changed the Rules of Russia-Related Disputes When Russian courts may assume jurisdiction despite arbitration agreements and clauses, what anti-suit injunctions and penalties may be imposed on Western defendants, and why these risks are no longer merely theoretical 19:54 – Navigating Russian Proceedings: Key Defence Strategies for Western Defendants An overview of the principal approaches adopted by banks, insurers, guarantors and other Western companies in Russian court proceedings, including situations involving recourse claims, and the key factors that may influence strategic decision-making
Alexander Gridasov (Herbert Smith Freehills Kramer) English Court Tools for Protecting International Businesses 28:18 – English Injunctions: Opportunities and Limitations 30:07 – UniCredit v RusChemAlliance: When an Injunction May Increase Risk 33:35 – Enforcement of Russian Judgments Abroad
Saima Hanif KC (3 Verulam Buildings) Recent English Court Practice in Sanctions-Related Disputes 04:11 – Celestial Aviation: The UK Supreme Court’s New Approach to the Interpretation of Sanctions Legislation 07:25 – EuroChem v Société Générale: Control, Illegality of Performance and the Principle of International Comity
KK&P Trial Lawyers would like to thank Emma Deas, Alexander Gridasov and Saima Hanif KC for an engaging discussion and their valuable insights on these important issues.
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