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