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EPAM, Macfarlanes, and Maitland Chambers Successful for UC Rusal in Norilsk Nickel Share Conflict

EPAM, Macfarlanes, and Maitland Chambers Successful for UC Rusal in Norilsk Nickel Share Conflict

Russia
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Egorov, Puginski, Afanasiev & Partners, Macfarlanes, and Maitland Chambers have successfully represented UC Rusal in a dispute involving the sale of Norilsk Nickel shares by Roman Abramovich’s Crispian Investments to Vladimir Potanin’s Whiteleave Holdings.

The London Commercial Court found in favor of UC Rusal (Rusal), the world’s second largest aluminum producer, and declared the purported sale of a 3.99% stake in MMC Norilsk Nickel in February 2018 by Crispian to Whiteleave was “invalid and ineffective.”

Following a trial in May, Judge Justice Phillips ruled that the original offer to buy the shares back was not made by "a bona fide third party purchaser," excluding all parties of the shareholder agreement, as well as parties or structures acting in concert with them, from purchasing a stake in MMC Norilsk Nickel. 

According to Egorov, Puginski, Afanasiev & Partners (EPAM), "the court's decision fully confirmed the validity of Rusal's objections to the purported sale."

EPAM's team was led by Chairman Dimitry Afanasiev, Partners Robin Wittering and Evgeny Raschevsky, and Counsel Andrey Mashkovtsev.

The Macfarlanes team consisted of Partners Simon Nurney and Iain Mackie, and Senior Counsel Joanna Constantis.

The Maitland Chambers team included Christopher Pymont QC, David Mumford QC, Thomas Munby and James Kinman.

 

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 offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

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 that enables thus 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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