Ost Legal wins a case seeking the recovery of more than RUB 600 mln from bank

Ost Legal successfully represented the interests of the client, Nizhnevartovsk SDPP CJSC (an Inter RAO UES Group company), in the Court of Arbitration for the Resolution of Economic Disputes at the RF Chamber of Commerce and Industry in a claim against VTB Bank PJSC seeking the recovery of more than RUB 600 mln under a bank guarantee issued to secure the contractor’s obligations. In the course of the case’s consideration, the bank had attempted to cast doubt on the principle of a bank guarantee’s independence, yet the Ost Legal team, comprised of Vladimir Lipavsky, Anna Kozhushko and Vadim Tsvetkov, managed to refute the bank’s objections and secure a positive decision for the client.