28 March 2014
Watson, Farley & Williams (“WFW”), a leading international law firm has successfully represented Vis Trading Co. Ltd. in a judgment handed down by the Court of Appeal on 20 March 2014, upholding a claim against Ansol Limited.
Vis Trading’s High Court claim, in which WFW also acted, was worth US$35 million and was successfully brought against Tajik businessman Avaz Saidovich Nazarov and Ansol Limited amongst others. The claim concerned the non‐payment of a series of loans and issues relating to loss of security. The case involved detailed consideration of Russian law and complex issues of fact, as well as issues relating to service in Russia.
In the judgment which was handed down by Mr Justice Leggatt on 8 March 2013, Ansol Limited was found to be liable for breach of contract and Mr Nazarov was found to be liable in tort and for inducement by misrepresentation. Both Mr Nazarov and Ansol Limited sought to appeal the judgment, however, only Ansol Limited was granted permission to appeal.
The WFW team was led by partner, Olga Baglay, assisted by Tiana Morales, in the International Litigation and Arbitration Group of the London office.
Alexander Gunning QC of 4 Pump Court appeared as Counsel on behalf of Vis Trading Co. Ltd.