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Successful resolution of corporate dispute in Swiss courts

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Nadmitov, Ivanov and Partners Law Firm together with correspondent Swiss law firm represented the interest of a Cyprus company, the defendant, in Swiss courts. The case concerned contesting a share purchase agreement under Swiss law.

Our client as a buyer took over a machine-building plant in a quick deal with a Swiss company as a seller. The terms of the contract provided for payments in tranches. After paying the initial trance, the buyer suspended other payments because it discovered significant defects of plant relating to its efficiency. The buyer contested the contract on the grounds of fraudulent misrepresentation because the seller provided false information about the plant to them before the contract was made and made false representations and warranties. The seller filled two lawsuits in a Swiss court claiming two tranches of contract’s consideration. When we entered the litigation process, the court had already granted the first claim on recovery of the unpaid sum. We appealed the decision, and the court’s decision was reversed by a superior court on the grounds of improper notification of the defendant. The litigation lasted for four years; as a result the court denied all of the claimant’s (the seller’s) claims and recovered the full amount of court expenses possible in favor of our client.

This case was a complex one. Large amount of evidence had to be translated and presented to the court. Some complex issues of law were raised. In particular, such issues as the difference between a share deal and an asset deal were covered, as well as the possibility to apply the statutory provisions on defective goods to share sale and purchase deals. The court also analyzed the information about the plant, the representations and warranties provided by the seller, as well as the obligation of the buyer to inspect the product at issue before signing the contract of sale.

Nadmitov, Ivanov and Partners Law Firm regularly represents clients in complex corporate disputes in Russian and foreign litigation and arbitral proceedings. We also regularly represent our clients’ interests in the courts and arbitration tribunals in Switzerland.


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Nadmitov, Ivanov and Partners ranked among top Litigation Practices of Russia

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Nadmitov, Ivanov and Partners was ranked among top 50 litigation practices in Russia by Pravo.ru, a prestigious national online magazine having been placed at 45th position by the number of cases and 48th position by the number of lawsuits in Russian commercial courts.

Law firms, that had submitted to editorial board data on arbitration cases, in which they participated in 2017, participated in the ranking. In comparison with the previous year, the number of companies has increased more than twice and 80% more cases were researched (without taking into account bankruptcy cases).

https://pravo.ru/story/202443/


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A US court has obliged a Transaero shareholder to disclose assets

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8 июня

Alexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm, commented to Vedomosti newspaper on satisfaction by a US court of the claim concerning the disclosure of assets of owners of bankrupt air company “Transaero”.

A US court has obliged a Transaero shareholder to disclose assets. “MTS bank” intends to collect 4.1 billion rubles from Alexander Pleshakov

The court of the Southern Federal District of Florida on June 6 upheld the claim of “MTS bank” to the owner and the former chairman of the ‘Transaero’ air company board of directors Alexander Pleshakov (59.48% as of the end of 2016) against the Former first Deputy CEO of Transaero Alexander Krinichansky and the Florida company ‘Sky Ocean International’.

According to the decision, the court obliged defendants and Florida banks under subpoenas issued at the request of “MTS bank” to give within 28 days testimony and to provide documents. According to the lawsuit, the information is required for ‘MTS bank’ for participation in the Transaero’s bankruptcy proceedings and the planned proceedings in Russia and on the British Virgin Islands related to repayment of the debt, distortion of Transaero’s reporting, money laundering, etc.

“In our experience, it can take several years for search of property and collection of debt at its expense”, – the managing partner of Nadmitov, Ivanov & Partners Law Firm Alexander Nadmitov warns.

For more detail see: https://www.vedomosti.ru/business/articles/2017/06/08/693505-transaero-raskrit-aktivi

Nadmitov, Ivanov and Partners Law Firm regularly represents clients in international arbitrations and foreign courts.


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Mikhail Abyzov isn’t transferred to summary judgment

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6 апреляAlexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm commented to Kommersant newspaper concerning trial in the High Court of the British Virgin Islands in the claim of Renova owner Victor Vekselberg against the minister of the Russian Federation for “The Open Government” Mikhail Abyzov.

Mikhail Abyzov isn’t transferred to summary judgment

Victor Vekselberg’s claim will be considered on merits

The High Court of BVI refused to consider summarily the counterclaims within dispute between Mikhail Abyzov and Victor Vekselberg, follows from the judgment of June 10, 2016. It is about the conflict in the power company Renova of KES Holding (now “T Plus”), which purchased controlling stakes in the TGC-5, TGC-6, TGC-7 and TGC-9 generation companies during the reform of RAO ES of Russia. Mr. Abyzov acted as the initiator of the case consideration under the summary procedure. On March 23 in response to the appeal the second instance court confirmed the judgment.

As the managing partner of “Nadmitov, Ivanov and Partners” Alexander Nadmitov notes, Victor Vekselberg’s requirement has chances of success. According to him, the claimant proves that Mikhail Abyzov violated the conditions of the put option realization. “The representatives of Mr. Abyzov tried to prove that the contract was not formed as a number of its provisions aren’t sufficiently certain and thus that Victor Vekselberg’s claims must be summarily rejected”. The court considered that even if separate provisions of the contract were not defined with certainty, still they allow to establish the intentions of the parties.

“Mikhail Abyzov still has chances” — Mr. Nadmitov notes, adding that consideration of the case can drag on “for one or two years”.

For more detail see: http://kommersant.ru/doc/3262655

Nadmitov, Ivanov and Partners Law Firm successfully represents clients in foreign courts and arbitration tribunals.

 


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Conference on Singapore-related Arbitration

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IndraneeMr. Alexander Nadmitov, Managing Partner of Nadmitov, Ivanov and Partners Law Firm participated in international conference «What makes Singapore attractive as a place for arbitration», which was held in Moscow.

Ms. Indranee Rajah, Senior Minister of State, Ministry of Finance & Ministry of Law, Singapore spoke about the advantages of Singapore as the venue of the arbitration.

Nadmitov, Ivanov and Partners Law Firm has an associated office in Singapore which is one of the leading arbitration practices in Singapore. Dan Tan, Associated Partner of the firm has successfully represented clients in several dozens of arbitration proceedings under the rules of the Singapore International Arbitration Centre.


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Comments for the newspaper “Vedomosti”

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov and Partners Law Firm, commented to the newspaper Vedomosti on the Decision on the application of ECHR’s rulings in RF of 14 July 2015 in connection with the priority of the provisions of the RF Constitution over interpretation of the European Convention on Human Rights given by ECHR.

Constitutional court explained in which cases the execution of ECHR decisions can be avoided

Constitutional Court considered request of 93 deputies of State Duma and allowed not to comply with the decisions of ECHR if they contradict with Constitution. Deputies applied to the Constitutional court, because they didn’t agree with two ECHR rulings to recover 1.8 billion euro for the benefit of the former shareholders of YUKOS and grant voting rights to prisoners. In order to avoid the execution of ECHR ruling, Constitutional court’s permit should be obtained, ruled the court.

European Convention on Human Rights and Fundamental Freedoms and legal positions of ECHR based on the Convention should not abolish the priority of Constitution, the court decision states. But if ECHR interpreted Convention in way that contradicts Constitution, Russia will have to withdraw from literal compliance with ECHR ruling, the Constitutional court explains.

“We are talking about the interpretation conflict, not about the conflict between Convention and Constitution”, – noted the judge-rapporteur Sergey Mavrin and added that decision is based on the court practice of Germany, Austria, Italy and Supreme Court of the United Kingdom: they had faced the same problems and overcome them in the same manner as Constitutional Court. In UK internal legislation has priority over external, as mentions Constitutional Court, but it is more fundamental and ancient than any other, explains Alexander Nadmitov, the managing partner of Nadmitov, Ivanov and Partners Law Firm.

http://www.vedomosti.ru/politics/articles/2015/07/15/600611-konstitutsionnii-sud-obyasnil-kak-mozhno-ne-vipolnyat-resheniya-espch


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Successful litigation project

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Nadmitov, Ivanov and Partners Law Firm successfully represented the interests of Energy Company – defendant in claim regarding recovery of penalty fine of 20 percent of the established board for the use of the vehicle provided by the plaintiff to the defendant due to the contract for the provision of vehicles with a crew. The plaintiff believed that the penalty is recoverable from the defendant for refusing the defendant to use vehicles provided by charter contract. The Arbitration Court of Astrakhan region rejected the plaintiff in the lawsuit in its entirety. Thus the plaintiff’s claims against our client were found to be unsubstantiated


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Comments for the newspaper “Vedomosti”

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov and Partners Law Firm, commented to the newspaper Vedomosti on the launch of a tender by the company “Rosneft” for legal services in connection with challenging economic sanctions in the amount of 17,7 million pounds (about $28,44 million).

“Rosneft” proposes $28 million for legal assistance in challenging sanctions.

…The amount of offered legal services – 37 000 man-hours. It means that the cost of an hour will amount to 459 pounds, which is an average rate, the hour of work of leading partners can amount up to 1000 pounds, points out Alexander Nadmitov, the managing partner of Nadmitov and Partners.…

http://www.vedomosti.ru/companies/news/34509741/rosneft-predlagaet-28-mln-za-yuridicheskuyu-pomosch-po#ixzz3FjAzYAjJ


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Comments for the newspaper “Vedomosti”

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov and Partners Law Firm, commented to the newspaper Vedomosti on the launch of a criminal case in Ukraine against former finance minister of Ukraine Yuri Kolobov and other members of Ukrainian government on suspicion of abuse of official powers in relation to the issuance of $3 billion bonds acquired by RF.

Criminal commission

… Investigation of SSU into certain individuals should not influence schedule of refinancing of the sovereign obligations, points out Alexander Nadmitov…

Full version

http://www.vedomosti.ru/newspaper/article/762601/ugolovnaya-komissiya#ixzz3EPJyocXx


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Comments to The Moscow Times newspaper

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov and Partners law firm, commented to The Moscow Times newspaper on the ECHR ruling which obliged Russia to pay compensation in the amount of 1,87 billion euro to the ex-shareholders of YUKOS.

2nd Victory for Yukos Shareholders

… «I think the ruling of the European Court of Human Rights is politicized,» said Alexander Nadmitov, managing partner at Nadmitov, Ivanov & Partners, a prominent Russian law firm. «There might have been procedural violations during the [original Yukos] case but the decision seems to be tainted by politics given the unprecedented size of the awarded compensation. It now puts in question Russia’s participation in the Council of Europe …»

http://www.themoscowtimes.com/news/article/2nd-victory-for-yukos-shareholders/504409.html


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