Bank St Petersburg OJSC & Anor v Arkhangelsky & Anor [2022] EWHC 2499 (Ch) (10 October 2022)

Bank St Petersburg OJSC & Anor v Arkhangelsky & Anor [2022] EWHC 2499 (Ch) (10 October 2022)

Counterclaimants failed to prove on balance of probabilities that claimants acted dishonestly or engineered undervalue at auctions; harm alleged is not substantiated by evidence; auctions were conducted in accordance with Russian law and competitive process; no actionable conspiracy or liability under article 1064 established.

Citation
[2022] EWHC 2499 (Ch)
Parties
Claimant: Bank St Petersburg OJSC; Claimant: Alexander Savelyev; Defendant/counterclaimant: Vitaly Arkhangelsky; Defendant/counterclaimant: Julia Arkhangelskaya; Additional Party/counterclaimant: Oslo Marine Group Ports LLC
Jurisdiction
England and Wales
Judgment Date
10 October 2022
Procedural Posture
Commercial Chancery / Post Remittal Re Trial Following Court of Appeal
Outcome
Counterclaim dismissed
Legal Topics
Dishonest Conspiracy, Article 1064 Russian Civil Code, Asset Valuation, Auction Validity, Pledges, Burden of Proof, Damages
Commercial Law Civil Procedure Russian Law Dishonest Conspiracy Article 1064 Russian Civil Code Asset Valuation Auction Validity Pledges +2 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 9 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Bank St Petersburg OJSC

Claimant

Alexander Savelyev

Claimant

Vitaly Arkhangelsky

Defendant/counterclaimant

Julia Arkhangelskaya

Defendant/counterclaimant

Oslo Marine Group Ports LLC

Additional Party/counterclaimant

Procedural Posture

Commercial Chancery / Post Remittal Re Trial Following Court of Appeal

Legal Issues

  1. 1 Are claimants liable under article 1064 Russian Civil Code for dishonest conspiracy alleged by counterclaimants?
  2. 2 What was the actual value of pledged assets at auction date?
  3. 3 Were auction sales valid under Russian law?

Ratio Decidendi

Counterclaimants failed to prove on balance of probabilities that claimants acted dishonestly or engineered undervalue at auctions; harm alleged is not substantiated by evidence; auctions were conducted in accordance with Russian law and competitive process; no actionable conspiracy or liability under article 1064 established.

Court Disposition

Counterclaim dismissed

Orders

  • No liability under article 1064 Russian Civil Code for claimants
  • No damages awarded to counterclaimants