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Stefan Ramel and Jack Brett act for Russian trustee -in-bankruptcy and bank in Kireeva & Vneshprombank LLC v Clement Glory Limited & ors [2025] EWHC 890 (Ch)

23/05/2025

Stefan Ramel and Jack Brett acted for a Russian trustee-in-bankruptcy and bank in Kireeva & Vneshprombank LLC v Clement Glory Limited & ors [2025] EWHC 890 (Ch) to defend an application made in April 2023 to set aside permission to serve proceedings out of the jurisdiction. Stefan and Jack were instructed in the case by Steptoe International (UK) LLP after the Supreme Court handed down judgment in [2024] UKSC 39 in related proceedings in November 2024. The application was heard at a 3-day hearing in the High Court on 19-21 February 2025 before HHJ Miles and Master Kaye.

The trustee’s claim sought a declaration of the beneficial ownership of the bankrupt, Mr Georgy Bedzhamov, in a BVI company, Clement Glory, which had been granted a charge in a London property sold for £35 million. The defendants, represented by Adam Baradon KC and Rowena Page, alleged that the claimants’ funding arrangements were champertous, the claim relied on documents embargoed under CPR 31.22, and the trustee’s recognition at common law did not extend to shares in the BVI.

Dealing with recognition as a dispositive issue of principle, on 11 April 2025 the High Court accepted the shares of a BVI company are not necessarily located in the BVI for the purposes of English conflict of laws rules but ultimately found that there was insufficient evidence that Clement Glory’s shares were located in the jurisdiction and granted the application.

Authors

Stefan Ramel

Call: 2002

Jack Brett

Call: 2023

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