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The new victory of ART DE LEX in combating the ITB negative legacy

ART DE LEX lawyers of the dispute resolution and mediation practice defended the interests of Investtorgbank (ITB) in a dispute with the Kyrgyz Russian Investment Bank (case of the Moscow Arbitration Court No. А40-69796 / 2017), recognizing as inactive the pledge agreement, according to which tens of millions of rubles were withdrawn from the ITB.

In case No. А40-110339 / 16 ART DE LEX lawyers previously managed to prove the legitimacy of writing off of funds by Investtorgbank that were withdrawn from the bank using the correspondent accounts of the Kyrgyz bank as a self-defense of the law. The new court decision consolidated the achieved result.

At the same time, the Kyrgyz side initiated proceedings to recover the disputed amount from ITB in its jurisdiction. There are reasons to believe that, in violation of the principles of international law and international courtesy, the Russian decision on the illigitimacy of the deal will be ignored by the court in Kyrgyzstan.

The success of the ART DE LEX specialists led by Arthur Zurabyan, Advocate, Head of International Arbitration and Dispute Resolution Practice, provided that the Moscow Court of Arbitration enters into legal force, will effectively prevent the execution of a possible unlawful decision of the Kyrgyz court in Russian jurisdiction.