Egorov Puginsky Afanasiev & Partners has successfully defended VEB-Leasing in a dispute against Inpromleasing.
According to EPAM, "by the end of 2010, VEB-Leasing had purchased around 7,000 railroad cars rented to third parties through a series of transactions from Inpromleasing (currently Promoinvest-M). Several months later, Inpromleasing initiated its own bankruptcy proceedings through a controlled company.
Under the bankruptcy proceedings, the bankruptcy manager successfully challenged the purchase and filed a claim against VEB-Leasing, seeking to recover over RUB 12 billion of the income generated by the railcars use. The claimant argued that the income was based on the leasing payments received by the client over the period of the Sale and Purchase Agreement till the court’s decision invalidating it."
EPAM convinced the first-instance court and the appellate-instance court that its client had no income, as the total amount of the leasing payments received would not cover 80% of the VEB-Leasing expenses. Following the court's hearing on February 19, 2018, the Moscow Circuit Arbitration Court upheld the judgments dismissing the claim.
VEB-Leasing was represented by EPAM Partner Valery Eremenko, Counsel Alina Kudriavtseva, and Associates Alexander Podgorniy, and Dmitry Perunov.