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Freezing Alexander Bogatikov’s Assets in Delovye Linii Worth $25,000,000

Task

Blocking a dilution of the beneficiary’s stake in Russia’s largest logistics operator to secure the enforcement of an LCIA award

Client
Solarstones Limited
Industry
Logistics

Background

A business partner of the beneficiary of Delovye Linii, Russia’s largest logistics operator, filed with the London Court of International Arbitration (LCIA) a statement of claim seeking to recover $25,000,000 under a management consultancy services agreement in respect of the holding company.

When faced with the claims, Alexander Bogatikov tried to dilute his interest to prevent his assets from being further foreclosed.

Outcome

A Russian court ruling prohibited any transactions with Mr Bogatikov’s interests in the holding company’s entities to secure the LCIA’s award. This case established a unique precedent where a Russian court of general jurisdiction supported foreign arbitration proceedings.