English Judge Affirms $43M Award To Gazprombank Unit

By Caroline Simson (December 15, 2021, 5:22 PM EST) -- An English judge has refused to overturn a $43.2 million arbitral award issued to a Gazprombank entity following a dispute over an oil and gas equipment joint venture, while also rejecting a bid to remove the arbitrators that issued it.

Sir Andre Smith, sitting as a judge of the High Court in London, denied the petition filed by Andrei Mikhailovich Ovsyankin to set aside the award ordering him to pay the $43.2 million to Angophora Holdings Ltd., which is indirectly owned by Italian bank Intesa Sanpaolo SpA and Gazprombank.

Nor would Judge Smith remove arbitrators Georg von Segesser, Sir Jeremy Cooke...

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