CFG Capital Partners Ltd v Vanistelroy Holdings Ltd, ZAO ASC-Holding, Alexander Sparre, Andrey Grishin, Vladimir Mojenkov, Vladimir Gadlin - SCC Arbitration
Vanistelroy Holdings Ltd, a Cypriot company, owning ZAO ASC-Holding, a Russian company active in retail sale of vehicles, was allegedly merging with Rolf Retail through CFG Capital Partners Ltd, a special purpose vehicle incorporated in Cyprus.
Purportedly in violation of the relevant agreements, which were negotiated in Switzerland and signed in Moscow, Atancy Trading Company acquired all shares of ZAO ASC-Holding. This dispute gave rise to CFG Capital Partners Ltd and 1. Vanistelroy Holdings Ltd, 2. ZAO ASC-Holding, 3. Alexander Sparre, 4. Andrey Grishin, 5. Vladimir Mojenkov, 6. Vladimir Gadlin, a SCC Arbitration filed on August 29, 2013 according to the arbitration clause of the relevant agreements. In support of this arbitration, CFG Capital Partners Ltd initiated litigation proceedings against Vanistelroy Holdings Ltd, ZAO ASC-Holding, Costas Christoforou, Cymanco Services Ltd, Annapa Investments Ltd, Audi Trade Limited, Auto Investments Ltd, Atancy Trading Ltd, Alexander Spare, Andrey Grishin, Vladimir Mojenkov, Vladimir Gadlin and Registrar of Companies before the District Court of Nicosia (Civil Case No. 1692/2013). They requested freezing orders and an international Mareva injunction for up to USD 36 million, Norwich Pharmacal Orders and Trading Orders. The Court rejected the requests (interim judgment of February 25, 2014). It is not clear whether a final judgment was issued.