Russian Bank thwarted in attempt to create new Russian law in the English courts

An ambitious attempt by VTB bank to pursue in England the Russian ultimate beneficial owner of a Russian transport company, relying on an entirely novel interpretation of Russian legislation was thwarted and the claim thrown out on a raft of grounds, not least the absence of a cause of action or any evidential basis for the bank’s claim.

Stephen Moverley Smith QC and Steven Thompson QC acted for the successful defendants.

The Judgment can be viewed here.