$4 billion+ proceedings for Corporate Fraud (2010-)

Acting in Cyprus in a landmark case (series of legal proceedings) for JSC BTA Bank of Kazakhstan before the Cypriot courts in connection with the recovery of fraudulently misappropriated funds exceeding US$ 4 billion. Amongst others and in addition to Mareva Freezing Injunctions, obtained a number of rarely issued ex parte interim remedies and other orders in support of and in the context of proceedings pending before the London High Court and the District Courts of Cyprus (including recognition of foreign world-wide Mareva injunctions and orders appointing receivers, freezing injunctions in relation to assets held in the name of parties other than the defendants, Norwich Pharmacal orders (pre-trial disclosure to enable the Plaintiffs to find out how the fraud was committed and by whom) and Anton-Piller relief (for disclosure and delivery of documents and information), orders to intervene in proceedings filed by other parties in order to secure the Bank’s interests, contempt proceedings for breach of court orders etc.). The proceedings are highly contested,  involve a number of different court proceedings concurrently pending before the courts with novel procedures and have successfully (for the protection and interests of the Bank) utilized EU regulations regarding jurisdiction and assistance of the courts of member states and the recognition and enforcement of their judgements in civil and commercial matters.

$2 billion+ proceedings for Corporate Fraud (2012-)

Acting in Cyprus for a large Russian corporation in connection with the recovery of fraudulently misappropriated funds exceeding US$ 2 billion by former management. Obtained ex-parte pre-trial disclosure against 3rd parties (Norwich Pharmacal/Bankers Trust orders) in order to enable it to identify exactly how the fraud was orchestrated and trace assets. In addition, gagging orders were issued against 3rd parties to prevent tipping off.

$2.1 billion RICO suit (New York) (2001):

Acted as instructing counsel and legal advisors on a US$ 2.1 billion suit based on the Racketeering Influenced Corrupt Organisations Act against a Russian aluminium company and particular individuals concerning the illegal takeover of an aluminium plant and related assets in Russia.

$1 billion Arbitration in London (2010):

Acted as instructing counsel and appeared before the Tribunal in an LCIA arbitration between shareholders of a Russian cement holding company.

$500 million Claim in Cyprus (2011-):

Acting on behalf of a shareholder of a major Ukrainian group in a claim to protect his rights and interests from the de-facto controlling shareholder.

$500 million+ proceedings for breach of Fiduciary Duties/Articles of Association (2008-2010)

Acted for one of two shareholders in a Cyprus holding company in court proceedings filed in Cyprus for the protection of the Plaintiff’s rights and the recovery of damages in connection with the alienation of the company’s assets consisting of shares in a leading Russian company. As part of the proceedings obtained mareva injunctions, declarations of legal rights separate and in addition to proceedings for damages and orders for the rectification of corporate registers. Case settled successfully out of court.

$450 million Arbitration in Switzerland (2010):

Acted as instructing counsel in a Swiss arbitration concerning a commercial dispute.

$150 million litigation in Cyprus Courts and in the High Court and the Court of Appeal of England and Wales (2010):

Acted as counsel Cyprus and instructing counsel in UK Courts in strongly contested litigation between shareholders of a Russian cement entity. One of the first cases before the Cypriot Courts in which the court was invited to interpret and apply the lis alibi pendens provisions of Council Regulation (EC) No. 44/2001 and to determine the consequences of a stay of proceedings before the foreign court. Court declined a stay of proceedings. Case subsequently settled.

$700 million Arbitration in Stockholm (2002):

Acted as instructing counsel and handled an SCC arbitration by a Cyprus entity against a Russian aluminium smelter for breach of long term supply contracts following an illegal takeover. Case settled successfully.

State Arbitration Court in Kemerovo, Russia (2000):

Appeared before the Court in bankruptcy proceedings in relation to a major aluminium smelters in the region representing a Cyprus creditor. The bankruptcy petition formed the basis for the eventual management takeover of the smelter.

International Arbitration in Moscow (2002-2004):

Represented the interests of a Cyprus respondent in ICAC (International Commercial Arbitration Court) arbitration proceedings in Moscow in a commercial dispute. The success in handling this matter assisted in the eventual (successful) global settlement with the other side.

$400 million claim in Cyprus (2001-2003):

Acted as counsel for the Claimant in a case of fraudulent transfer of assets giving control of a major Russian insurance and bank related group to a third party. Case settled successfully.

$300 million+ proceedings for breach of Fiduciary Duties/Articles of Association (2010-2011)

Acted for one of two shareholders in a Cyprus holding company in court proceedings filed in Cyprus for the protection of the Plaintiff’s minority rights and the recovery of damages in connection with attempts to squeeze out minority shareholder though breaches of duty and abuse of rights. As part of the proceedings applied for the equitable winding up of Cyprus holding company. Case was successfully settled out of court.

Multi million claim against Russian Gas (energy) Company (2005-2006):

Acted as counsel in a claim by a minority shareholder of the holding company of a major Russian gas (energy) company for abuse of minority rights. Obtained a hotly contested interlocutory injunction against the Respondent holding company on an application of the minority shareholder to liquidate the holding company. The case settled successfully.

First worldwide Mareva injunction granted by Cyprus Courts (2005-2009):

Counsel for the Plaintiffs, together with former Attorney-General Mr. Alecos Markides, in the landmark case of Joseph P. Lasala and Fred S. Zeidman as Co-Trustees of the AremisSoft Corporation Liquidating Trust v. Lycourgos Kyprianou and others whereby damages exceeding US$600.000.000 and order for the tracing of assets were sought in connection with a stock market fraud allegedly committed by the Defendants in the United States. The case is the first case in which the Supreme Court of Cyprus recognised the jurisdiction and power of the Cypriot Courts to issue worldwide mareva injunctions as well as interlocutory orders for the disclosure of assets.

Claim against leading spirits brand for termination of agency (2006):

Counsel for the Cypriot agents in one of the most complex agency termination cases to have come before the Cypriot Courts which involved a claim by the principals for money due and a counterclaim by the agents for damages for unlawful termination of the agency and distributorship agreement.

EU Regulation as to jurisdiction in international sale of goods (2007-2008):

Acted for the Defendants in one of the first cases in which the jurisdiction of the Cypriot Courts was successfully challenged on the basis of the provisions of Council Regulation (EC) No. 44/2001 on jurisdiction and the enforcement of judgments.

Winding up petitions against CSE-listed company by minority shareholders (2007-2009):

Acted for the Petitioners in two major winding up petitions filed by the minority shareholders on the ground of minority oppression. One involved a family holding company, the other a major manufacturing and distribution company listed on the Cyprus Stock Exchange. Both petitions settled successfully.

$500 million joint venture dispute (2008- ):

Currently acting for the Plaintiff, one of two shareholders in a Cyprus holding company, in court proceedings filed in Cyprus for the protection of the Plaintiff’s rights and the recovery of damages in connection with the alienation of the company’s assets consisting of the shares of a leading Russian drilling company.

Litigation in UK courts up to the House of Lords in international sale of goods case (2008):

Acted as instructing counsel in an action before the High Court, the Court of Appeal and the House of Lords of England and Wales pertaining to the interpretation and application of article 5 of Council Regulation (EC) No. 44/2001 in contracts for the carriage of goods by sea.

Interlocutory order freezing assets of an international bank (2009- ):

Currently acting for the Plaintiffs in a claim against an international bank operating in Cyprus for breach of mandate and for failure to release funds deposited in the Plaintiffs’ accounts. Interlocutory freezing order obtained against the bank.

Claim for fraud against former Bishop (2005):

Acted for the Plaintiffs in a claim against the then Bishop and the Bishopric of Limassol and others in connection with a high-profile fraudulent “investment” scheme promoted through persons acting the US with the authority of the Bishop.