Russian Bank Trustee Must Pay Costs In £1.3B Fraud Case

Law360, London (December 18, 2019, 5:53 PM GMT) -- A London judge on Wednesday ordered an insolvent Russian bank’s trustee to reimburse the brother of a jailed Russian bank boss for most of what it cost him to prepare for a motion the trustee abandoned as part of its £1.3 billion fraud claim.

On Wednesday, Master Francesca Kaye ruled that Georgy Bedzhamov, the brother of the bank’s former president, is entitled to 75% of his legal costs “directly and solely attributed” to the abandoned application from Vneshprombank, which sought to resolve claims related to two allegedly fraudulent transactions.

Vneshprombank LLC, which is now in liquidation, claims that Bedzhamov exercised “de facto...

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