Judgment Hand Down: Gerasimenko v VTB Capital Plc [2025] EWHC 1333 (Comm)

He gave summary judgment for VTBC, dismissing claims brought by the former owners of the “Red October” Steelworks in Volgograd.  The claimants alleged a Russian law governed joint tort claim involving JSC VTB Bank (VTB Russia) and VTBC, its London-based subsidiary, to expropriate their interest in the steelworks at the direction of the Russian state. The Court found that the claims against VTB Capital had no real prospect of success including in the face of successive applications to amend the claim.  The Court so found on the assumption that the claimants’ pleaded case on propositions of Russian law was correct.  As a result of its decision on the reverse summary judgment application, the court did not need to deal with the service out applications on the other defendants, having dismissed the claim against the ‘anchor’ defendant, VTBC.   The summary judgment accordingly brought the entire case to an end.

The decision provides a notable example of the Commercial Court’s approach to granting summary judgment in complex cross-border cases governed by foreign law.

The administrators were represented by David Davies KC (Essex Court Chambers) and Adam Al-Attar KC. They were instructed by a team from Weil, Gotshal & Manges LLP (Mark Lawford, Christopher Marks, Rosalind Meehan, Mahereen Nawaz and Annabelle Horgan).

Read the full judgment here.