We have adopted a specialist team approach to our practices for many years. We feel that this is the way our clients want us to work, and that specialisation leads to the provision of a better service.
We have adopted a specialist team approach to our practices for many years. We feel that this is the way our clients want us to work, and that specialisation leads to the provision of a better service.
Insights
23/05/2025
Guildhall Barristers 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). They defended an application made in April 2023 to set aside permission to serve proceedings out of the jurisdiction. Steptoe International (UK) LLP instructed Stefan and Jack in the case. This was after the Supreme Court handed down judgment in [2024] UKSC 39 in related proceedings in November 2024. HHJ Miles and Master Kaye heard the application over a 3-day High Court hearing from 19 to 21 February 2025.
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. They argued the claim relied on documents embargoed under CPR 31.22. Additionally, they contended the trustee’s recognition at common law did not extend to shares in the BVI.
On 11 April 2025, while dealing with recognition as a dispositive issue of principle, the High Court accepted the shares of a BVI company are not necessarily located in the BVI. This was considered for the purposes of English conflict of laws rules. However, the court ultimately found that there was insufficient evidence that Clement Glory’s shares were located in the jurisdiction. Therefore, it granted the application.
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