Overview
(January 25, 2017, London) — Steptoe’s National Bank Trust matter has been recognized by The Lawyer as one of the “Top 20 Cases of 2017.” The list, published January 16, ranks the largest disputes the High Court will host in the coming year. According to the editors, this year is gearing up to be one of the most lucrative ever for the UK disputes market, with a record £25bn in dispute across The Lawyer’s Top 20 Cases 2017. By comparison, the combined sum in last year’s list was just in excess of £6bn.
The new owners of Russia’s National Bank Trust are suing the former shareholders for $830m in damages related to the bank’s collapse in 2014. National Bank Trust, now owned by Otkritie Holding, claims the six defendants improperly used the bank’s cash to fund around $1bn of loans to their own companies. Then, when the bank was reorganized, took out further bank funds to repay earlier loans. The collapse of National Bank Trust prompted the second largest state-funded bailout of a bank in Russian history.
The London-based Steptoe team representing National Bank Trust is led by Neil Dooley, with Laura Dacau and Natalia Gofman.
The full list can be read at The Lawyer (subscription required).
About Steptoe
Steptoe & Johnson LLP is an international law firm widely recognized for vigorous advocacy in complex litigation and arbitration, successful representation of clients before governmental agencies, and creative and practical advice in guiding business transactions. The firm has more than 500 lawyers and other professionals in offices in Beijing, Brussels, Chicago, London, Los Angeles, New York, Palo Alto, Phoenix and Washington. For more information, visit www.steptoe.com.
