Successfully protected one of the largest world banks and prevented the risks of its operations in Russia being discontinued

The team of our practice has successfully protected the interests of one of the largest international credit institutions in two disputes.

The first dispute was connected with the bank being charged with administrative liability for a failure to perform a resolution of the court bailiff to recover monetary funds from the account of a debtor which was a foreign company and for which a bankruptcy case had been initiated. The second dispute was about challenging resolutions of the court bailiff to seize monetary funds of a subsidiary of a major American transnational corporation investing in internet search, cloud computing and advertising technologies and to transfer them to the deposit account of the court bailiff service.

Our team's task was to participate in these disputes on the bank’s side. The project was complex because of a lack of well-established case law regarding the nature and priority of liabilities (“astreinte”) in bankruptcy regarding which execution was levied.

As a result, our lawyers succeeded in having the claims dismissed and in safeguarding the bank from subsequent sanctions on behalf of the regulator and preventing the potential termination of the bank’s business in Russia because of its licence being revoked.