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September 2013
Our Fraud Capabilities A focus on our experience in Russia and the CIS
Hogan Lovells
Contents
Introduction 3
Our approach 4
Our strengths 5
A selection of our fraud experience in Russian and the CIS 7
A selection of our general fraud experience 8
Our team 9
Our global coverage 16
2
Hogan Lovells 3
Introduction
For the last 20 years, Hogan Lovells has had its own dedicated and
separate fraud and asset-tracing team within its dispute resolution practice
that focuses on Russian and CIS clients. This dedicated team is unique in
the legal market.
Our team is regarded by both clients and competitors as a market leader
and has been ranked in the top tier for fraud in the legal directories for
many years. Further, the legal directories commended the practice as
follows:
• "This team garners praise from all corners of the market for the fraud
work it picks up … ". One client enthusiastically stated, "I find
[Hogan] Lovells' international prowess and cooperation between
teams incredibly useful in securing recovery actions."
• In a team that is widely acknowledged as being "practical,
commercial and personable", clients spoke of the "excellent working
relationship … we can speak to people and contact partners with
little problems". Clients highly endorse the deep bench of "terrific"
associates at hand."
This group is particularly commended
for its ability to provide a seamless
service to clients in complex cross-
border fraud matters.
Chambers UK
Hogan Lovells
Our approach
As a result of our reputation, we have attracted a team of partners and
associates of the highest calibre. Our team has been at the leading edge
of developments in Russia and the CIS for many years. Indeed, we have
expanded the boundaries of the law on the very high profile matters we
have worked on.
The type of work that we undertake is heavyweight and often cutting edge.
The consequences for the client are inevitably serious. This type of
litigation requires a fully committed team working together as one unit.
Most importantly, the nature of these jobs requires full commitment from
the partners involved in the team. This work can only be led from the front,
that is by the partners running the team.
The emphasis at Hogan Lovells is on excellence. However, we appreciate
that litigation can be expensive in terms of both management time and
money. The ethos of the firm is therefore to provide commercial and cost-
effective solutions. These objectives are achieved by careful case
management and working closely with our clients to understand the
commercial drivers behind the litigation. At times this will mean seeing
cases through from inception to trial and the utilisation of aggressive
litigation techniques, but this approach is only adopted where the situation
merits it.
4
Hogan Lovells' s global capability in
this area is hard to beat.
Legal 500
Hogan Lovells 5
Our strengths
We have an outstanding track-record. We have acted on some of the highest-
profile and most well-known Russian and CIS cases in recent years and we
are not afraid to push the boundaries of the law.
In London, we have a dedicated team of nine partners and 23 lawyers which,
in conjunction with our specialists in other jurisdictions, frequently handles high
profile, multi-jurisdictional fraud and asset-tracing work.
In Moscow, our trial team consists of 7 lawyers, including one partner, one
counsel, three senior associates, two associates. Our lawyers have significant
Russian court experience on asset recovery, fraud and Russian insolvency
litigation. This includes representation at trial level (in the commercial courts
and the courts of general jurisdiction) as well as representation at the
appellate, cassation level and in the Supreme Court and the Highest
Commercial Court.
Our trial lawyers handle all types of cases with a business aspect throughout
all stages of the civil litigation cycle – whether applications for interim
measures, hearings on the merits or ultimate enforcement. The Moscow team
together with our London team, acts for BTA Bank in BTA Bank v Ablyazov,
the biggest US$10bn fraud case ever to come before the English courts as
well as has recently notable involvement in some of the largest and most
complex contentious disputes for banking clients in Russia."
The firm provides "a very high level of
service at reasonable rates".
Legal 500 EMEA
Hogan Lovells 6
Our strengths (2)
We have a significant number of lawyers in Washington, New York, Moscow,
Paris, Dubai, Hong Kong, Munich, Frankfurt, Italy, Spain and elsewhere with
specialist expertise in fraud and insolvency.
We have particular expertise in dealing with asset recovery cases involving
multiple jurisdictions such as England, Switzerland, the British Virgin Islands,
Cyprus, the US, Dubai, Saudi Arabia, Singapore, Pakistan, India and various
African countries.
We also have further partners and lawyers in our dispute resolution practice
who deal with fraud-related issues, in particular within our regulatory,
insurance, banking and pension litigation groups. We can draw on expertise
across more than 40 international offices, as demonstrated by the cross-
border nature of our experience.
The practice continues to consolidate
its position as one of the market
leaders in high-stakes fraud litigation.
Chambers UK
Hogan Lovells 7
A selection of our fraud experience in Russia and the CIS
Otkritie
Advising in relation to US$183m
fraud investigation and court
proceedings in the UK and a
number of other jurisdictions.
Megafon
Acting for a Russian group in a
complex international dispute
concerning shares in a Russian
mobile telecom operator. This
dispute involved allegations of a
corruption minister in the Russian
Government which were ultimately
proven. The matter involved legal
proceedings in Switzerland,
Sweden, London, US, Bermuda,
BVI, the Bahamas, the Netherlands
and Russia, as well as criminal and
regulatory investigations in
Germany, Bermuda, Cyprus, BVI
and Russia.
Merchant International
Acting in a dispute against
Naftogaz, a Ukrainian state-owned
oil and gas company. Our client
obtained a judgment from the
Commercial Court of Kiev for the
sum of US$25m but was prevented
from enforcing the judgment in
Ukraine. We secured a freezing
order over Naftogaz's substantial
shareholding in an English plc
which Naftogaz unsuccessfully
contested. It was a ground-
breaking case that touched on new
areas of law in relation to
enforcement of overseas
judgments.
Tajik Aluminium Plant v Ermatov
Acting for the receiver of a BVI joint
venture company in connection with
litigation concerning a smelting
plant in Tajikistan, one of the
largest fraud cases before the
English High Court in recent years.
BTA Bank
Acting for the largest bank in
Kazakhstan, in asset recovery
litigation concerning fraudulent
transactions of more than US$6bn
entered into by its former
management. This is the largest
fraud case to have ever come
through the English Courts and
involves action in the UK,
Kazakhstan, Russia, Ukraine, the
Netherlands, Germany,
Switzerland, Cyprus, the British
Virgin Islands, the Seychelles and
the Channel Islands. The team
was awarded Litigation Team of
the Year 2013 for their work.
Chalva Tchigirinski
Advising in a series of complex
and fast moving disputes in
England, the Isle of Man, BVI,
Russia, Cyprus and Switzerland.
The various actions concerned
assets and liabilities in excess of
US$1bn.
Alfa Telecom Turkey Limited
("ATTL")
Advising in a series of actions in
England and the BVI arising out of a
US$1.3 bn loan facility granted to a
Turkish industrial group. The facility
was secured indirectly over shares in
Turkcell, the leading Turkish telecoms
operator. Following alleged defaults on
the loan agreement, ATTL claims to
have enforced security by
appropriation.
Sovcomflot/Novoship
Acting for various defendants in a trial
that was featured as one of "2009's top
10 court battles" by The Lawyer. The
matter relates to allegations of bribery
and corruption in the context of a series
of shipping and banking transactions
entered into with Russian state-owned
entities including Sovcomflot, which
owns Russia's largest commercial
shipping fleet. The claim is in excess of
US$500m.
Hogan Lovells 8
A selection of our general fraud experience
Liquidators of BCCI
Acting for the Liquidators of BCCI
since its collapse in 1991. The
BCCI Group carried on business as
a bank and deposit taker, operating
in some 69 countries including
England, the US, France, Hong
Kong and Pakistan. Unravelling the
workings of the BCCI Group in an
attempt to maximise the recovery of
funds involved a number of high
value legal actions.
Dubai Islamic Bank
Acting in relation to a complex
alleged fraud, involving several
jurisdictions and the alleged
misappropriation of hundreds of
millions of dollars. Two of the
alleged fraudsters were arrested
and imprisoned in Dubai in May
2008. The arrests formed part of a
wider anti-corruption campaign
currently being undertaken by the
Dubai government.
Government of Iceland
Advising in relation to potential claims
available to it following the UK
government's decision in 2008 to
freeze the assets of Landsbanki
Islands hf, a leading Icelandic bank,
following the appointment of
Receivers of Landsbanki.
Liquidators of RBG Resources plc
Advising in connection with
investigations and litigation worldwide
involving missing funds of over
US$400m. This included activity in
London, New York, Dubai, the BVI,
the Bahamas, Hong Kong and
Singapore. We obtained summary
judgment in the amount of US$350m.
In parallel with the civil claim brought
by the liquidators, we were involved
with liaising with the Serious Fraud
Office in the context of its successful
prosecution of three of the company's
former directors for conspiracy to
defraud.
The liquidators of Khalifa Group
Advising the Algerian financial
services group in relation to the
tracing and recovery of substantial
assets which had been fraudulently
transferred to various different
jurisdictions.
ING Barings
Advising following the collapse of
Barings Bank in relation to
investigations carried out by the
Bank of England, the Singaporean
authorities and other regulatory
bodies and prosecuting authorities
into the collapse in 1995.
Romanian Government
Advising on asset investigation
issues following the collapse of the
Caucescu regime.
US trustee of Bernard Madoff's
investment business
Acting as UK counsel as part of
investigations into the whereabouts of
billions of dollars of assets.
Prince Jefri of Brunei
Advising Prince Jefri, the Sultan of
Brunei's brother, in relation to
substantial fraud claims made by the
Brunei Government and other parties
in numerous jurisdictions around the
world. Our work included the
landmark House of Lords decision on
Chinese Walls.
Langbar
Advising a Bermudian incorporated
company which had been the victim of
a £365m “share ramping” fraud,
including in connection with
investigations by criminal authorities in
various jurisdictions as well as by the
London Stock Exchange.
9
Our team
Hogan Lovells 10
Jeremy Cole
Jeremy Cole has more than 25 years of experience in international commercial litigation, focusing in
particular on a broad range of cases involving fraud and dishonesty claims. He is co-head of the
Investigations, White Collar and Fraud Practice Area. He is based in Hogan Lovells' London office but
has also worked in Hong Kong, New York, Abu Dhabi and the Cayman Islands.
Jeremy has been involved in a wide range of investigations including investigations of a number of
banks, examples of which are set out below.
Jeremy is the co-editor of the leading text "International Commercial Fraud" published by Sweet &
Maxwell.
Representative experience
• Acting for BTA Bank (Kazakhstan) on various investigations and claims concerning multi-billion
dollar losses and ensuing corruption allegations
• Acting for the liquidators of BCCI, following its collapse. There were extensive investigations to
ascertain the reason for its collapse and ensuing litigation across the globe
• Acting for a Court appointed receiver for a BVI company in connection with the collapse of a joint
venture relating to an energy project in the former Soviet Union. The dispute involved allegations
of corruption relating to the control of a State-owned aluminium smelting plant in Tajikistan
• Acting for HRH Prince Jefri Bolkiah of Brunei in relation to allegations brought by the Brunei
Government for the alleged dishonest misappropriation of US$15 billion. (This work included the
landmark case on Chinese walls)
• Advising on litigation involving allegations of dishonesty and corruption on a series of shipping
and banking transactions entered into with Russian state companies - Sovcomflot and Novoship.
This has been described by the London legal press as one of the cases of the decade Acting in
relation to the collapse of a metal commodity trading company based in London and New York
involving the loss of US$700m. This case involved the detailed reconstruction of the activities of
the trading company in the years immediately prior to its collapse. This has resulted in litigation
in England, the Netherlands, Hong Kong, Singapore, the United States, the Bahamas and the
BVI and resulted in a number of key judgments
• Advising various clients in connection with investigations by the UK Serious Fraud Office into
suspected overseas corruption
• Advising various multinationals in relation to internal investigations and the need to disclose to
relevant prosecuting authorities in the UK, China, Middle East and the US
Jeremy Cole Partner, London
T +44 20 7296 5107
Jeremy Cole is highly praised by
sources, who highlight his "tactical
nous."
Chambers UK
Hogan Lovells 11
Chris Hardman
Chris Hardman advises commercial and manufacturing clients on a wide range of international and
domestic disputes. These include complex, high value, cross-border shareholder disputes,
frequently with proceedings in off-shore jurisdictions such as the British Virgin Islands, the Bahamas
or Bermuda and often with a fraud-related element. He has a particular expertise in dealing with
Russian/CIS disputes which are often complex and jurisdictional in nature.
Representative experience
• Advising BTA Bank (Kazakhstan) in asset recovery litigation concerning fraudulent
transactions of more than US$6bn allegedly entered into by former management
• The case is one of the largest in the UK and involves related litigation in jurisdictions such as
Kazakhstan, Russia, Ukraine, the Netherlands, Germany, Switzerland, Cyprus, the British
Virgin Islands, the Seychelles and the Channel Islands
• Acting for an indirect shareholder in the leading Turkish mobile telephony service provider,
Turkcell, on a dispute in the BVI relating to the enforcement of security over shares in
Turkcell with a value of over US$1bn
• Representing a major Russian Group in a dispute in the Isle of Man concerning ownership of
the leading mobile telephony operators in the Kyrgyz Republic
• Acting for a major Russian Group in relation to a dispute arising from its investment in one of
the leading Russian mobile telephony operators, Megafon, including proceedings in the BVI,
the Bahamas, Bermuda, London, the US, Switzerland, Sweden and Russia
Chris Hardman Partner, London
T +44 20 7296 5878
Chris Hardman is widely considered to
be a leading practitioner on global
litigation matters
Chambers Global
Hogan Lovells 12
Cary has been a partner at Hogan Lovells since 1994. He is a commercial litigation partner admitted in
Ontario, Canada as well as England and Wales. Cary is based in London. He is heavily involved in
our Russia and CIS Disputes Practice which deals with litigation and arbitration connected with Russia
and the CIS.
Cary has had extensive experience of general commercial litigation with a particular emphasis on
cross-border disputes involving civil fraud concerning fraudulent and/or negligent management,
contentious insolvency, business restructuring and shareholder disputes. He has acted on a number of
major matters such as the collapse of Barings Bank, Bank of Credit and Commerce International
("BCCI"), various matters on behalf of Equitable Life (including claims concerning the conduct of its
former management), and advising the US Trustee in the Bankruptcy of Bernard L Madoff Investment
Securities in relation to UK and overseas issues and claims. Since early 2009, Cary has been acting
for BTA Bank, one of the largest Kazakh banks, in relation to a series of claims (totalling some $6
billion) arising out of alleged fraud by the bank's former management.
Cary is a regular speaker at conferences dealing with civil fraud and insolvency related matters and
has written many articles on the topic. He contributed chapters to the leading fraud text "International
Commercial Fraud" published by Sweet & Maxwell, to a US text entitled "Transatlantic Commercial
Litigation and Arbitration" and to "Company Directors - Duties, Liabilities and Remedies", published by
Oxford University.
Representative Experience
• Acting for BTA Bank (Kazakhstan) on various investigations and litigation in England and
elsewhere into multi-million dollar frauds by former management
• Acted for the US Trustee in Bankruptcy of Bernard L Madoff Investment Securities in relation to
various UK and overseas issues arising out of one of the largest ever financial scandals
• Acted for the liquidators of BCCI on various fraud and asset tracing claims in numerous
jurisdictions worldwide
• Acted for the Alfa Group (Russia) in relation to proceedings in England and the British Virgin
Islands concerning the enforcement of security for a US$1.3 billion loan by Alfa
• Advised Equitable Life on mis-selling claims against Equitable and investigations by UK
regulatory agencies including the Parliamentary Ombudsman
Cary Kochberg Partner, London
T +44 20 7296 5433
The "calm, cool and collected" Cary
Kochberg is an increasingly popular
choice for high-level work...
Chambers UK
Cary Kochberg
Hogan Lovells 13
Michael Roberts Partner, London
T +44 (0)207 296
Michael Roberts is ‘very commercial’
and ‘very bright’.
Legal 500 UK
Michael Roberts is a commercial litigation partner with particular experience of cross-border disputes
involving civil fraud, contentious insolvency, asset recovery and white collar crime.
Michael has been involved in many of the leading cases in this area over the past ten years, including
Madoff and the Tajik Aluminium litigation. Michael is currently acting for BTA Bank in asset recovery
proceedings relating to fraudulent transactions with a value well in excess of US$6 billion (for which
Hogan Lovells was recently awarded The Lawyer's "Litigation Team of the Year" award).
Aside from the English Courts, Michael has significant experience litigating in off-shore jurisdictions
including the BVI, the Cayman Islands, Cyprus and Jersey. Michael has written numerous articles on
fraud issues and is a regular speaker at conferences, including in relation to the UK Bribery Act.
Representative experience:
• Acting for the trustee in bankruptcy of Bernard L. Madoff Investments Securities (BLMIS) in
connection with asset recovery proceedings in multiple off-shore jurisdictions, including Bermuda,
the Cayman Islands, Gibraltar, the BVI and Ireland
• Acting for BTA Bank (Kazakhstan) in relation to an alleged multi-billion dollar fraud committed by
its former management, and currently involving claims in England, Russia, Cyprus and
numerous other off-shore jurisdictions
• Acting for the Receiver of a BVI joint venture company in connection with the Tajik Aluminium
litigation between its shareholders
• Advising a major international client in connection with an investigation by the UK Serious Fraud
Office into suspected fraud relating to Sakhalin Island
• Acting for EADS in connection with an internal investigation into senior management
responsibility for the delays to the Airbus A380 programme
• Advising a major energy client in connection with a fraud investigation in Dubai and Saudi Arabia
Michael Roberts
Hogan Lovells 14
Alexei Dudko Partner, Moscow
T +7 495 933 3000
Alexei Dudko is a well-respected
practitioner specialising in complex
litigation and international arbitration
with a particular focus on corporate,
banking and asset-tracing matters.
Chambers Europe
Alexei Dudko is a partner and head of the dispute resolution practice in Moscow, Russia. His
experience includes advising and representing Russian and foreign companies in high-profile and
complex disputes in all major Russian courts, including Supreme Commercial Court, international
arbitration and ADR.
Alexei is a recommended lawyer in the field of dispute resolution in legal directories, including
Chambers Global and Legal 500. He is ranked among 'The Best Lawyers' for the years 2010 – 2013 in
'Arbitration and Mediation' and 'Litigation'.
Representative experience:
• Acting for TNK-BP in the ongoing US$50mln international fraud litigation in multiple offshore
jurisdictions, including proceedings in Gibraltar, Russia, the Cayman Islands, Lichtenstein,
Switzerland and Greece
• Advising BTA Bank (Kazakhstan) in asset recovery litigation in Russia concerning fraudulent
transactions of more than US$6 billion allegedly entered into by former management
• advising a major Russian uranium trader in US$1bn international arbitration in the context of the
criminal proceedings against a former top Russian government official charged with defrauding
the state and breach of state secrets*
• Advising Rosneft on contentious issues related to the long-term oil deliveries to CNPC*
• acting for an international bank in a series of proceedings worth US$240mln to recover a loan
from a major Russian grain producer*
• advising Sberbank on a GBP100mln insolvency of a UK holding company and enforcement
against its Russian assets*
• acting in the US$60mln LCIA arbitration on a real estate dispute between two major Russian
corporate groups*
• advising Gold Fields, a South African mining company on its successful defense against the
hostile bid by Harmony*
• advising Sakhalin Energy on arbitration and litigation issues regarding USD multi-million VAT
refund and tax set off under the Sakhalin II deal as well as on the environmental issues and
compensation of damages*
* Matters handled prior to joining Hogan Lovells
Alexei Dudko
Hogan Lovells 15
Alexei Dudko Partner, Moscow
T +7 495 933 3000
Alexei Dudko is a well-respected
practitioner specialising in complex
litigation and international arbitration
with a particular focus on corporate,
banking and asset-tracing matters.
Chambers Europe
Maria Yaremenko is a Russian-qualified senior lawyer specializing in international arbitration and
cross-border litigation, as well as Russian court proceedings. She has completed a post-graduate
degree in international arbitration law and also teaches Russian civil and commercial courts
procedure at the Russian Academy of Foreign Trade. Prior to joining the firm in 2007 she worked as
in-house counsel in a major Russian metal and mining company.
Representative experience:
• Acting for BTA Bank (Kazakhstan) in a number of claims worth over US$6bn against Mr
Ablyazov and his companies in a number of proceedings around the world, including the UK,
Cyprus, BVI and Russia
• Advising Bank of Moscow on its asset recovery strategy and court proceedings in various
jurisdictions
• Acting for Eco Telecom (part of the Alfa Group) in an ad hoc arbitration in Geneva under
UNCITRAL rules against Telenor in relation to the management and activities of Vimpelcom
• Advising and acting for Honeywell on Russian currency control legislation including
administrative proceedings before the Russian Financial Regulator
• Advising a US equipment supplier in a MKAS arbitration in relation to the supply of equipment
for the 2014 Sochi Olympics
• Advising and acting for X5 Retail Group in a contentious international commercial arbitration
• Acting for the shareholders in a Ukrainian vodka producer in a dispute with their co-
shareholder in LCIA arbitration proceedings in London
• Advising and acting for a major CIS gas supplier in a dispute before the Chinese courts
concerning the supply agreement containing an ICC arbitration clause with Singapore seat
• Advising a Russian railway wagon manufacturer in a dispute with a Chinese counterparty over
licensing and the sale of railway spare parts
• Advising a CIS Football Club in the settlement of a claim for a solidarity contribution made in
relation to the training of a famous football player.
• Advising a major Russian mining and metallurgical company on directors' duties under
Russian corporate legislation
Maria Yaremenko
Hogan Lovells
Our global coverage
16
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