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EPAM Successful for VEB-Leasing in Defense Against RUB 12 Billion Claim

EPAM Successful for VEB-Leasing in Defense Against RUB 12 Billion Claim

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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.


Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated office in Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


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