February 27, 2015 – The Appeal court of London has rendered its decision in respect of three appeals, related to the court proceedings between the Deposit Insurance Agency (DIA) and Sergei Pugachev.
The former senator welcomes the decision of the court to uphold the unlimited cross undertaking, which would allow him to recover from the DIA any damages that he sustains, including any losses incurred by him during the time when the asset freezing order is in place. Losses incurred during this period have already exceeded the limited cross undertaking of 75 million US dollars initially provided by the DIA to Sergei Pugachev. Appeals have been filed in respect of the court’s other decisions.