Russia's VTB Wins Ban On Mine Operator's Armenian Suit

Law360, London (May 25, 2021, 5:22 PM BST) -- A London court blocked an Armenian businessman from pursuing proceedings in the High Court against Russia-based VTB Bank PJSC in his home country on Tuesday, after the lender said that dealings between them over a $283 million loan should be decided under English arbitration.

High Court Judge Andrew Butcher approved an anti-suit injunction against Valeri Mejlumyan to stop lawsuits against VTB in an Armenian court. Mejlumyan is trying to terminate a share pledge agreement between the two sides that stipulates that disputes would be arbitrated in London.

Judge Butcher said he was not persuaded by any of the three arguments put...

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