Hermitage Capital

Peters & Peters act for Hermitage Capital Management Limited (‘Hermitage’), formerly the largest foreign investor in the Russian Federation, with investments under management in the region of $4 billion. Hermitage is renowned for exposure of corruption in Russia, and as a direct result has suffered harassment and intimidation from the Russian authorities, including the perpetration of a massive fraud against the company. Hermitage was unable to obtain any redress within the Russian Federation, and Peters & Peters took a strategic decision to approach the Council of Europe. A report by the Council of Europe’s Committee on Legal Affairs and Human Rights consequently described Hermitage as an ‘emblematic case’ of the ‘legal nihilism’ affecting the Russian criminal justice system.  Peters & Peters took a conspiracy with more than fifty actors, six jurisdictions, and found one forum where this case could be addressed, examined and considered in an impartial and authoritative manner. In recognition of this the firm was awarded recognised as the ‘stand out’ firm for fraud in the FT Innovative Lawyers Report 2010.

Partners Anand Doobay and Jasvinder Nakhwal and Associate Jenny Barker acts.