The Claimants sought an injunction to restrain proceedings in New York in which Mr Lebedev claims over $2 billion from Messrs Vekselberg and Blavatnik in respect of his interest in the TNK-BP joint venture, which was acquired last year by the Russian oil company Rosneft. The Claimants argued that Mr Lebedev was bound to arbitrate the New York dispute because of an arbitration clause in an agreement to which he was not a named party.
Following a two-day hearing, Jonathan Hirst QC (sitting as a Deputy High Court Judge) refused the injunction. Applying settled legal principles, he held that the Claimants had failed to establish to the requisite standard that Mr Lebedev was a party to the arbitration clause. The Judge found that he did not need to consider the Claimants’ other arguments as to why they were entitled to enforce the clause in any detail.
Lord Grabiner QC and Orlando Gledhill appeared for Mr Lebedev (instructed by Enyo Law).