OJSC VTB Bank v Parline Ltd & Ors [2015] EWHC 1135 (Comm) (29 April 2015)

OJSC VTB Bank v Parline Ltd & Ors [2015] EWHC 1135 (Comm) (29 April 2015)

A claim under Article 1064 of the Russian Civil Code cannot be brought by a creditor against company controllers until the bankruptcy and liquidation process is complete; VTB's claim is premature and fails for lack of standing, causation, and proof of loss.

Citation
[2015] EWHC 1135 (Comm)
Parties
Claimant: OJSC VTB Bank; First Defendant: Parline Limited; Second Defendant: Raisa Nikolayevna Parshina; Third Defendant: Evgeny Vitaljevich Bulgakov
Jurisdiction
England and Wales
Judgment Date
29 April 2015
Procedural Posture
Commercial Claim (tort Under Russian Law) / High Court Trial Judgment
Outcome
Claim dismissed
Legal Topics
Tortious Liability Under Russian Law, Bankruptcy Proceedings, Subsidiary Liability of Company Controllers, Quantification of Loss, Corporate Limited Liability
Commercial Law Insolvency Law Conflict of Laws Tortious Liability Under Russian Law Bankruptcy Proceedings Subsidiary Liability of Company Controllers Quantification of Loss Corporate Limited Liability

Case Brief

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Parties

OJSC VTB Bank

Claimant

Parline Limited

First Defendant

Raisa Nikolayevna Parshina

Second Defendant

Evgeny Vitaljevich Bulgakov

Third Defendant

Procedural Posture

Commercial Claim (tort Under Russian Law) / High Court Trial Judgment

Legal Issues

  1. 1 Whether a claim can be brought under Article 1064 of the Russian Civil Code during pending bankruptcy proceedings
  2. 2 Whether the alleged acts caused Yurganz's insolvency and bankruptcy
  3. 3 Whether the Defendants caused or procured the alleged acts

Ratio Decidendi

A claim under Article 1064 of the Russian Civil Code cannot be brought by a creditor against company controllers until the bankruptcy and liquidation process is complete; VTB's claim is premature and fails for lack of standing, causation, and proof of loss.

Court Disposition

Claim dismissed

Orders

  • Claimant's claim is dismissed in its entirety