$40M case – significant win for our client

The final award was recently issued in the proceedings before the High Court of England and Wales, where we were appointed as experts.

The case revolved around a deal between two businessmen to set up a joint venture (JV) to develop real estate business in Moscow. The JV was unsuccessful and short-lived, the parties did not agree on the terms of termination of the business relationships.

We went through more than two years of hard work to achieve the best possible result. Our work included a review of over 90,000 documents disclosed by the parties, to assess the amount of the parties' investment in the acquisition of commercial properties. We also assessed the value and profitability of five commercial properties.

Finally, after a 12-day trial in June 2024 and consequential hearings held on 3-5 December 2024, the judge issued the award on the balancing (compensatory) payment upon the termination of the JV and an order as to costs.

Our methodology and assessment was acknowledged by the judge with the balancing compensation to the client in the amount over $12 million. Additional £4 million by way of interim payment on account of our client's costs.

Case details here:

https://caselaw.nationalarchives.gov.uk/ewhc/ch/2024/2436

https://caselaw.nationalarchives.gov.uk/ewhc/ch/2024/3317

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