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Russian Corporate Raiding Suit Must Be Stayed: Receiver

Law360, New York (September 7, 2017, 8:01 PM EDT) -- The Chapter 15 receiver for a defunct Russian granite producer has asked a New York bankruptcy court to declare that claims alleging Pavlovskgranit was illegally forced into bankruptcy belong to the debtor, essentially pulling the rug out from under a Delaware company pursuing a $750 million suit on those same claims.

PPF Management LLC, created in November to preserve and pursue claims on behalf of Sergey Poymanov and his ex-wife, Irina Pogdornaya, the former majority shareholders of Pavlovskgranit, has called the company’s Chapter 15 proceedings a...
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