King & Spalding lands $12bn arbitration case against Russia for Pugachev

King & Spalding’s London office has been instructed on a $12bn arbitration brought against the Russian government by Sergei Pugachev, a tycoon once dubbed ‘Putin’s banker.’

The founder of Mezhprombank, Pugachev is taking Russia to arbitration after his business empire was carved up after falling out of favour with the country’s president Vladimir Putin. He alleges that government investigations against the bank were constructed because of ‘political motivations’.

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