Matter
Bank A v Bank B (Hong Kong High Court HCCT 73/2023 and HCCT 16/2024; [2024] HKCFI 2529)
- 14 September 2023Russia
14 September 2023Russia
Freezing order of the Arbitrazh Court of Saint Petersburg and the Leningrad Region dated 14 September 2023
Arbitrazh Court of Saint Petersburg and the Leningrad Region
- Decision summary
- The court froze securities held in Bank A's account with Bank B and prohibited Bank B from transferring title to those securities to any party other than Bank B.
Supporting details
2 participantsBank A
Bank B
Arbitrazh Court of Saint Petersburg and the Leningrad Region
1 month and 16 days later · 46 days
- 30 October 2023Russia
30 October 2023Russia
First interim anti-suit injunction ruling of the Arbitrazh Court of Saint Petersburg and the Leningrad Region dated 30 October 2023
Arbitrazh Court of Saint Petersburg and the Leningrad Region
- Decision summary
- The court prohibited Bank A from initiating proceedings in the High Court of Hong Kong, maintaining claims there seeking to restrain the Russian proceedings, or commencing or continuing proceedings outside Russia.
Supporting details
2 participantsBank A
Bank B
Arbitrazh Court of Saint Petersburg and the Leningrad Region
3 days later · 3 days
- 2 November 2023Russia
2 November 2023Russia
Second interim anti-suit injunction ruling of the Arbitrazh Court of Saint Petersburg and the Leningrad Region dated 2 November 2023
Arbitrazh Court of Saint Petersburg and the Leningrad Region
- Decision summary
- The court prohibited Bank A from initiating arbitration proceedings in HKIAC or other arbitration forums outside Russia on the basis of the Termination and Settlement Agreement until judgment in the second Russian proceedings.
Supporting details
2 participantsBank A
Bank B
Arbitrazh Court of Saint Petersburg and the Leningrad Region
29 days later · 29 days
- 1 December 2023Russia
1 December 2023Russia
Judgment of the Arbitrazh Court of Saint Petersburg and the Leningrad Region in the Russian proceedings dated 1 December 2023
Arbitrazh Court of Saint Petersburg and the Leningrad Region
- Decision summary
- The court gave judgment for Bank B against Bank A for recovery of the Settlement Amount in full and dismissed Bank A's jurisdiction challenge, holding that it had exclusive jurisdiction over the claim and the EU sanctions issue under Article 248 of the Arbitrazh Procedural Code.
Supporting details
2 participantsBank A
Bank B
Arbitrazh Court of Saint Petersburg and the Leningrad Region
10 days later · 10 days
- 11 December 2023Russia
11 December 2023Russia
Judgment of the Arbitrazh Court of Saint Petersburg and the Leningrad Region in the second Russian proceedings dated 11 December 2023
Arbitrazh Court of Saint Petersburg and the Leningrad Region
- Decision summary
- The court gave judgment for Bank B in the second Russian proceedings and granted final injunctions restraining Bank A from commencing or continuing arbitration relating to the Termination and Settlement Agreement and from commencing proceedings in Hong Kong to restrain Bank B's Russian claim.
Supporting details
2 participantsBank A
Bank B
Arbitrazh Court of Saint Petersburg and the Leningrad Region
1 month and 1 day later · 32 days
- 12 January 2024Russia
12 January 2024Russia
Russian Court of Appeal judgment dismissing appeals against the anti-suit injunction rulings dated 12 January 2024
Russian Court of Appeal
- Decision summary
- The Russian Court of Appeal dismissed Bank A's appeals against the first and second anti-suit injunction rulings.
Supporting details
2 participantsBank A
Bank B
Russian Court of Appeal
28 days later · 28 days
- 9 February 2024Russia
9 February 2024Russia
Russian Court of Appeal judgment on the freezing order dated 9 February 2024
Russian Court of Appeal
- Decision summary
- The Russian Court of Appeal dismissed Bank A's application to cancel the freezing order.
Supporting details
2 participantsBank A
Bank B
Russian Court of Appeal
1 month and 17 days later · 46 days
- 26 March 2024Russia
26 March 2024Russia
Russian Court of Appeal judgment in the Russian proceedings dated 26 March 2024
Russian Court of Appeal
- Decision summary
- The Russian Court of Appeal dismissed Bank A's appeal against the judgment in the Russian proceedings.
Supporting details
2 participantsBank A
Bank B
Russian Court of Appeal
5 months and 29 days later · 182 days
- 24 September 2024Hong Kong
24 September 2024Hong Kong
Judgment of the High Court of Hong Kong in the cases HCCT 73/2023 and HCCT 16/2024 dated 24 September 2024
High Court of Hong Kong, Court of First Instance
- Citation
- [2024] HKCFI 2529
- Decision summary
- The Court dismissed Bank B's jurisdiction summons and granted Bank A's relief in the first and second originating summonses. It ordered mandatory anti-suit and related relief concerning the Russian proceedings and judgments, declared that Bank B's Russian claims breached the arbitration agreement in the Termination and Settlement Agreement, and ordered Bank B to pay the costs of both Hong Kong proceedings to Bank A on an indemnity basis.
Supporting details
35 authorities · 8 participants- Application
- First originating summons — Relief granted
- Application
- Second originating summons — Relief granted
- Application
- Jurisdiction Summons — Dismissed
Bank A
- Representative
- Law Man-chung (For: Bank A)
- Representative
- Danny Tang (For: Bank A)
- Representative
- Deacons (For: Bank A)
Bank B
- Representative
- Phillip Georgiou (For: Bank B)
- Representative
- Georgiou Partnership LLP (For: Bank B)
High Court of Hong Kong, Court of First Instance
- Judge
- Mimmie Chan