Summary

The Respondent ('OWH') has applied, pursuant to Commercial Court Guide O.8.6 for the summary dismissal of the application which the Claimants have made under s. 68 Arbitration Act 1996. The court gave directions for a two-hour hearing to consider (a) summary disposal and (b) directions.

The First Claimant ('RTI') is a Jersey subsidiary of the Second Claimant ('Rusal') which is incorporated in the Russian Federation. OWH is a German financial institution and a subsidiary of VTB Russia PJSC, a Russian financial institution designated as a sanctioned entity in a number of jurisdictions.