A major Russian bank

Acted for a major Russian bank in an LCIA arbitration against a Maltese holding company over recovery of more than USD 260 million indebtedness under an English law governed guarantee in relation to several loans. Our team managed to persuade the arbitrators that the defendant should be held liable under the guarantee, even though the signature of the chairman of the Maltese company's board of directors on the guarantee agreement turned out to be forged. As a result, the arbitral tribunal upheld the claim in full. We also obtained recognition of the award in England and Malta.