May 31 the English Supreme Court announced its final ruling putting an end to the 12-year-long legal battle between Sovcomflot and its former top managers in British courts.
Sovcomflot has been refused a permission to appeal ‘because the application does not raise an arguable point of law of general public importance which ought to be considered at this time bearing in mind that the case has already been the subject of judicial decision and reviewed on appeal’, as the Supreme Court ruling goes.
Prior to this, in November 2017, the Court of Appeal also dismissed Sovcomflot’s appeal.
‘This ruling finally puts an end to this long-running battle. No further appeals are possible’, says Mike Lax, Partner with Lax & Co, the lawyer representing in court Yury Nikitin, one of the defendants in the case.
‘Sovcomflot have been ordered to pay all costs. This means that Sovcomflot now has to pay approximately $75m to our clients’, he added.
A copy of the court ruling is attached.