Debevoise wins victory for Norilsk Nickel in $3.5bn Russian shareholder battle in Nevis courts

1 March 2011

A team led by Lord Goldsmith QC, Chair of Debevoise & Plimpton's European litigation practice, has succeeded in having a controversial injunction set aside.

On February 27, the Eastern Caribbean Supreme Court of the High Court of Justice of St. Christopher & Nevis, Nevis Circuit, cancelled an injunction granted to Rusal ex parte on February 3, which prevented Norilsk's indirect subsidiary, Corbiere, from completing share and ADR purchases as part of Norilsk Nickel’s $3.5 billion share buyback, and from voting with these shares at Norilsk Nickel’s forthcoming EGM.

Lord Goldsmith appeared as lead advocate for Corbiere in the Nevis courts, and led a global team comprising Debevoise lawyers in three offices, including partners Sophie Lamb in London and Mark Friedman in New York, and attorneys from St. Kitts and the British Virgin Islands.

The outcome is testament to the strength of Debevoise's global litigation practice. With its ability to coordinate complex litigation across multiple jurisdictions and to itself conduct advocacy before courts and arbitration tribunals around the world, Debevoise is a leader in effectively managing large scale, international disputes, obtaining optimum results for its clients.