Marc Delehanty acts for some of the defendants in PrivatBank v Kolomoisky, Bogolyubov, Teamtrend Limited & Others, which has been listed as one of the Top 20 Cases of 2022 by The Lawyer.
Instructed by Pinsent Masons and led by Thomas Plewman QC, Marc represents English and BVI companies alleged to have participated in a massive fraud against PrivatBank by its former owners.
The Lawyer commented:
Ukraine’s largest commercial bank, its two former owners and an alleged fraud worth €1.9bn; these are the mouth-watering components of a long-running case that is finally set for a substantive trial this summer.
Hogan Lovells is representing PrivatBank as the claimant, while the list of defendants includes Igor Kolomoisky and Gennadiy Bogolyubov, as well as six companies they are alleged to own. The allegation fuelling the dispute is a claim that the defendants orchestrated a fraudulent scheme to misappropriate funds from PrivatBank, with over $1bn understood to have been received in sham transactions.
Already, the case has spawned hard-fought and costly legal proceedings concerning a worldwide freezing order and jurisdiction challenge. However, it was in 2019 that the Court of Appeal paved the way for the landmark trial to proceed by overruling Mr Justice Fancourt’s decision that said the English court did not have jurisdiction over the bank’s claims.
The Lawyer also observed that the anticipated 13-week trial would feature a “star-studded cast of QCs and solicitors appearing from four separate City firms”.
For more details on this case, and the full list of Top 20 Cases of 2022, please click here [subscription required].