Overview
The Lawyer named Roman Pipia v. BGEO Group Limited one of 20 cases to watch in 2021. The trial is slated to begin on April 19 and is expected to last up to eight weeks. According to the editors, there are vast sums of money on the line in this High Court scrap between the British holding company of Georgia's largest bank and the owner of Dinamo Tbilisi Football Club, Roman Pipia.
Sparked by an initial $1B claim issued by the Georgian entrepreneur, since reduced to $290M, the dispute arises out of a disagreement over the sale of a company previously owned by the claimant. The relevant company, Rustavi Azot, produces nitrogen-based fertilisers and was once one of the largest employers in Georgia.
Meanwhile, Pipia's claim against BGEO Group Limited stems from enforcement action taken against Rustavi Azot when it defaulted on its loans. This led to the business being sold at auction by a BGEO subsidiary back in September 2016, with Pipia alleging the relevant auction was not properly organised and only involved parties connected to BGEO. He claims that the assets of Rustavi Azot were sold at a significantly undervalued rate and is now seeking damages as a result.
Steptoe London partner Neil Dooley represents Roman Pipia in this matter along with associates Natalia Gofman and Yuliya Luy.
The full article can be read at The Lawyer (subscription required).
