The leading Russian business media report another MZS success. This time High Court of Justice of England and Wales issued an ani-suit injunction in support of LCIA arbitration, impeding Bank Otkritie Financial Corporation from proceeding with its claim in Moscow Arbitrazh Court against O1 Group companies.
Bank Otkritie Financial Corporation contests in Moscow Arbitrazh Court certain transactions between the bank and O1 Group companies.
The arbitration clauses in some of the transactions referred the disputes to the London Court of International Arbitration. The High Court confirmed that the Bank had no right to file claims with any state court, including Russia, and ordered to withdraw substantial part of the current claims in Moscow.