Sibir Energy pursues action relating to the alleged misappropriation of over $400 million
Client(s) Sibir Energy plc
Jones Day has been acting for the energy company, Sibir Energy Plc, in relation to the high profile misappropriation of sums exceeding US$400 million by former directors and shareholders. The recovery proceedings, led from the London office, have to date led to proceedings or threatened proceedings in over ten jurisdictions, with attorneys in Jones Day's offices in Moscow, Paris, and New York also being prominently involved. To date, Jones Day has assisted Sibir in obtaining English freezing orders with an aggregate value of £500 million; BVI freezing orders securing $250 million dollars; and security over substantial assets in France, Delaware, and the Isle of Man. Substantial recoveries have been made, and proceedings are ongoing.