Bank St Petersburg PJSC & Anor v Arkhangelsky & Ors

Bank St Petersburg PJSC & Anor v Arkhangelsky & Ors

The Court found, on the balance of probabilities, that Dr Arkhangelsky did sign and is bound by the personal guarantees and personal loan. The Bank was entitled to enforce the guarantees and call defaults; no binding general moratorium was promised or agreed. The allegations of forgery and conspiracy were not substantiated by cogent evidence. The auction sales, while resulting in low recoveries, were not proven to be fraudulent or collusive under Russian law. The Counterclaimants failed to prove loss caused by actionable wrongdoing. Declaratory relief was refused as inappropriate. The Bank's claims succeeded; the Counterclaim and claims against Mrs Arkhangelskaya were dismissed.

Parties
Claimant: Bank St Petersburg PJSC; Claimant: Alexander Savelyev; Defendant: Vitaly Arkhangelsky; Defendant: Julia Arkhangelskaya; Defendant/counterclaimant: Oslo Marine Group Ports LLC
Jurisdiction
England and Wales
Judgment Date
09 May 2018
Procedural Posture
Civil (commercial, Chancery) / Final Judgment After Full Trial
Outcome
Judgment for the Claimants on the guarantees and personal loan; Counterclaim dismissed; claims against Mrs Arkhangelskaya dismissed; declaratory relief refused.
Legal Topics
Personal Guarantees, Loan Enforcement, Fraudulent Conspiracy, Breach of Contract, Asset Realisation, Auction Sales, Reflective Loss, Illegality Defence, Declaratory Relief
Banking and Finance Commercial Law Company Law Civil Procedure Fraud and Asset Recovery Personal Guarantees Loan Enforcement Fraudulent Conspiracy +6 more

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Parties

Bank St Petersburg PJSC

Claimant

Alexander Savelyev

Claimant

Vitaly Arkhangelsky

Defendant

Julia Arkhangelskaya

Defendant

Oslo Marine Group Ports LLC

Defendant/counterclaimant

Procedural Posture

Civil (commercial, Chancery) / Final Judgment After Full Trial

Legal Issues

  1. 1 Whether Dr Arkhangelsky signed and is bound by personal guarantees and a personal loan agreement
  2. 2 Whether the Bank was entitled to enforce the guarantees and call defaults
  3. 3 Whether the Bank and its associates conspired to raid and appropriate OMG assets through fraudulent means

Ratio Decidendi

The Court found, on the balance of probabilities, that Dr Arkhangelsky did sign and is bound by the personal guarantees and personal loan. The Bank was entitled to enforce the guarantees and call defaults; no binding general moratorium was promised or agreed. The allegations of forgery and conspiracy were not substantiated by cogent evidence. The auction sales, while resulting in low recoveries, were not proven to be fraudulent or collusive under Russian law. The Counterclaimants failed to prove loss caused by actionable wrongdoing. Declaratory relief was refused as inappropriate. The Bank's claims succeeded; the Counterclaim and claims against Mrs Arkhangelskaya were dismissed.

Court Disposition

Judgment for the Claimants on the guarantees and personal loan; Counterclaim dismissed; claims against Mrs Arkhangelskaya dismissed; declaratory relief refused.

Orders

  • Defendants to pay sums due under guarantees and personal loan (quantum to be recalculated)
  • Counterclaim dismissed