On May 3, 2025, Weil secured the summary dismissal of a US$800 million fraud claim brought against VTB Capital (in administration) in the English High Court.

The claimants were the former owners of a Russian steel plant known as Red October. They alleged that they were victims of a phenomenon known in Russia as a reiderstvo (Raider Attack) and that their business interests in the Red October steel plant were wrongfully expropriated by a variety of Russian state-sponsored actors. They also alleged that VTBC was involved in the making of a criminal complaint which formed part of the basis for the Raider Attack.  

VTBC, which is now under the control of administrators appointed by the English courts, argued that there was no evidence upon which to infer that VTBC was a party to any alleged Russian conspiracy. Furthermore, as the focus of the claim was on events in Russia and had nothing to do with England and Wales, VTBC argued that it was an anchor defendant which had been sued for the primary purpose of bringing the claim within the jurisdiction of the English courts.  

Following a highly contested hearing, the High Court found that the claimants’ claims had had no real prospect of succeeding at trial, and awarded summary judgment. In light of this decision, there was also no basis for the claimants to serve the other defendants out of the jurisdiction.

The Weil team was led by partners Mark Lawford and Christopher Marks, and included counsel Rosalind Meehan and Lindsay Merritt, associates Mahereen Nawaz and Stella Tregear, and trainee associate Annabelle Horgan. They instructed David Davies KC of Essex Court Chambers and Adam Al-Attar KC of South Square Chambers.

Weil continues to advise Stephen Browne and David Soden as the joint administrators of VTBC in its ongoing administration proceedings.

Gerasimenko v. VTB Capital Plc [2025] EWHC 1333 (Comm)