JSC BM-BANK V KEKHMAN  EWHC 791 (Comm)
PCB acted for the claimant bank in obtaining a judgment in excess of US$180 million against the Defendant after a 4 week trial. The claimant established that the defendant had deliberately misled the bank into lending monies to a borrower as a result of the unlawful acts of the defendant, who held the majority beneficial interest in the borrower through a Netherland Antilles Foundation. The Court also found that the defendant had dissipated the assets of the group companies of which the borrower formed part and which had guaranteed the loan. This was notwithstanding the absence of any direct documentary evidence demonstrating the defendant’s involvement in the manipulation of accounts upon which the claimant had relied when granting the loan or the application made to the claimant for the loan.