PARALLEL PROCEEDINGS AND UNCITRAL ARBITRATION MATTER:
Michael McNutt acted as lead personal counsel to Sergei Pugachev for relevant proceedings before the English Courts. In addition, LLB acting together with local counsel, defended Mr. Pugachev and legal entities associated with Mr. Pugachev in court proceedings initiated in London, Cayman Islands, New Zealand, Luxembourg and France, LLB acted for the strategic jurisdiction phase in an UNCITRAL arbitration administered by the PCA (in The Hague) initiated by Sergei Viktorovich Pugachev against the Russian Federation for violations of the French/Russian Bilateral Investment Treaty with claimed damages of USD$ 12 billion. This case arose from various investment projects in the Russian Federation expropriated by local authorities in breach of the BIT as well as other violations of the BIT.
This arbitration case is the largest claim by a single person against State to date to the best of our knowledge and legal precedents resulting from this case and related parallel proceedings have significantly impacted English law and other law. LLB and Michael McNutt as personal advisor ceased representing Mr. Pugachev prior to the substantive proceedings before the arbitral tribunal. FRANCE/UK/RUSSIA