BANK ST PETERSBURG OJSC & Anor v VITALY ARKHANGELSKY & Anor

BANK ST PETERSBURG OJSC & Anor v VITALY ARKHANGELSKY & Anor

The counterclaimants failed to prove on the balance of probabilities that the claimants engaged in a dishonest conspiracy actionable under article 1064 of the Russian Civil Code. The court found the enforcement actions, including the repos and auctions, were lawfully conducted, with no gross undervalue or actionable harm established. The valuation evidence showed auction prices were within market value ranges. No unlawful collusion or fraud by the claimants was proven. Accordingly, the counterclaim failed for lack of harm and lack of actionable conspiracy.

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
Civil (commercial/chancery) / High Court Retrial After Court of Appeal Remittal
Outcome
Counterclaim dismissed. No liability under article 1064 Russian Civil Code established.
Legal Topics
Enforcement of Security, Fraud and Conspiracy, Russian Law (article 1064), Valuation of Assets, Auction Validity, Cross Border Enforcement
Commercial Law Banking Law Civil Procedure Private International Law Enforcement of Security Fraud and Conspiracy Russian Law (article 1064) Valuation of Assets +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 4 Authorities cited 10 Party arguments 2 Amounts and remedies 11
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

Civil (commercial/chancery) / High Court Retrial After Court of Appeal Remittal

Legal Issues

  1. 1 Whether claimants are liable under article 1064 of the Russian Civil Code for a dishonest conspiracy to seize defendants' assets
  2. 2 Whether the auctions of pledged assets were conducted lawfully and at market value
  3. 3 Whether the defendants suffered harm as required under article 1064

Ratio Decidendi

The counterclaimants failed to prove on the balance of probabilities that the claimants engaged in a dishonest conspiracy actionable under article 1064 of the Russian Civil Code. The court found the enforcement actions, including the repos and auctions, were lawfully conducted, with no gross undervalue or actionable harm established. The valuation evidence showed auction prices were within market value ranges. No unlawful collusion or fraud by the claimants was proven. Accordingly, the counterclaim failed for lack of harm and lack of actionable conspiracy.

Court Disposition

Counterclaim dismissed. No liability under article 1064 Russian Civil Code established.

Orders

  • Counterclaim dismissed in full
  • No damages or relief awarded to counterclaimants