Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
What effect will the recent Court of Appeal decision of Erste Group Bank AG v JSC 'VMZ Red October' have on jurisdictional issues in English law? Richard Morgan QC, one of the barristers who argued the case, says that although these types of issues may be litigated more frequently, the English courts are doing a good job acting as a gatekeeper in relation to the extent of their jurisdiction.
Erste Group Bank AG v JSC ‘VMZ Red October’ and others  EWCA Civ 379,  All ER (D) 135 (Apr)
The judgment in Erste Group Bank AG v JSC ‘VMZ Red October’ and others dealt with a challenge to the English Court’s jurisdiction and, in particular, whether the judge erred in finding the gateway requirements for service of the jurisdiction were met and in concluding that England was the most appropriate forum for resolution of the issues.
The case concerned a loan to a steel factory in Volgograd called Red October. Erste Bank was one of a syndicate of lenders. The loan was governed by English law and allowed for the bank to serve on the borrower and the guarantor, its parent, as of right in England and elect to litigate in England. Erste, an Austrian bank, had participated by making the loan through the books of its English branch.
The third defendant, 'RT', for whom I acted, is a Russian entity holding state assets, one of which is an indirect minority interest in Red October.
Erste alleged that RT had conspired to cause Red October to go into insolvent liquidation by having it and its parent alienate their assets and then keep those assets from being realised in the insolvency process so that they could not be used to pay creditors. RT denied all the allegations.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
Stephen qualified as a solicitor in 2005 and joined the Restructuring and Insolvency team at Lexis®PSL in September 2014 from Shoosmiths LLP, where he was a senior associate in the restructuring and insolvency team.
Primarily focused on contentious and advisory corporate and personal insolvency work, Stephen’s experience includes acting for office-holders on a wide range of issues, including appointments, investigations and the recovery and realisation of assets (including antecedent transaction claims), and for creditors in respect of the impact on them of the insolvency of debtors and counterparties.
0330 161 1234