Lord Wolfson KC featured in The Lawyer’s Top 10 Appeals of 2024
We are pleased that Lord Wolfson KC is featured in one of The Lawyer’s “Top 10 Appeals of 2024”.
Recovery Partners and Revoker v Irakli Rukhadze and others, which will go to the Supreme Court this year, is the latest stage of a long-running dispute concerning the assets of a deceased Georgian billionaire. When Arkadi “Badri” Patarkatsishvili died in 2008 without providing details of where his assets were located or how to access them, Salford Capital Partners Inc (SCPI) was entrusted to protect the assets. They established Recovery Partners and Revoker, which enlisted the help of SCPI’s director Irakli Rukhadze, Igor Alexeev and Benjamin Marson. However, following a fall-out, the deceased’s family “cut out” SCPI and decided to only work with companies controlled by Irakli Rukhadze, Igor Alexeev and Benjamin Marson. The individuals allegedly recovered $2bn for the estate. Recovery Partners and Revoker claimed that the individuals breached fiduciary duties owed to SCPI. The claim for breach of fiduciary duties succeeded and the judge ordered an account of profits of c.$140m. The defendants have now been granted permission to appeal to the Supreme Court, arguing that the duty to account should only extend to profits which would not have been earned if there had been no breach of fiduciary duty.
Lord Wolfson KC acts for the appellants/defendants, Irakli Rukhadze and others, instructed by Signature Litigation.
The full article can be seen here.