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Hogan Lovells Named Litigation Team of the Year for US$6bn Fraud Case

27 June 2013

LONDON, 27 JUNE 2013 - Hogan Lovells was named Litigation Team of the Year at The Lawyer Awards 2013, which took place on 25 June. We were awarded for our work on behalf of BTA Bank on one of the biggest fraud cases ever to come before the English courts.

Hogan Lovells has been acting for BTA Bank (one of the largest banks in Kazakhstan) since May 2009 in a series of major fraud cases before the English Courts.
It is believed that former chairman Mukhtar Ablyazov siphoned off in excess of US$8 billion during his time as BTA's chairman.  The claims brought on behalf of BTA are valued at more than US$6 billion and judgments of over US$3.5 billion have been obtained so far, along with a landmark unlimited freezing order and the largest pre-judgment receivership order ever seen.

The case has involved around 200 court hearings, and a large team of partners, of counsel, associates, trainees and paralegals/translators from our London and Moscow offices.

The case has generated more than 50 reported decisions so far and many of the decisions have set precedents for future fraud and commercial cases. Some of the key decisions over the last year alone have included the following:

  • In February 2012 the High Court handed down judgment finding Ablyazov guilty of numerous counts of contempt of court and sentenced him to 22 months in prison. Click here for press release.
  • In November 2012 the Court of Appeal debarred Ablyazov from defending BTA Bank's claims. Click here for press release.
  • In November 2012 and February 2013 the High Court granted judgments for over US$3.5 billion in favour of BTA Bank. Click here for press release.
    Hogan Lovells partner Chris Hardman led the case.

ENDS

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