From the LinkedIn page of Yuriy Jexenev
Aug 18
Lawyer coalition Ukraine Justice Alliance plans to file legal claims against sanctioned Russians to compensate Ukrainians for losses incurred in the invasion
Lawyers led by McCue Jury & Partners LLP and Mishcon de Reya LLP are seeking investments from money managers to go after billions of dollars held by sanctioned Russian individuals and companies.
Hedge funds, family offices and litigation finance firms have been approached by lawyers seeking funding to file legal claims against sanctioned Russians, according to people familiar with the matter. The proceeds would largely be used to compensate Ukrainians for losses incurred in the wake of Russia’s invasion, with investors receiving a cut of any successful claims, said people who asked not to be named because the discussions are private.
The initiative has the potential to release as much as $1-trillion of Russian money, according to the group of lawyers who are calling themselves the @Ukraine Justice Alliance. But unlocking the sanctioned assets, much of which are located in opaque offshore jurisdictions, will be a complex and lengthy process with scant legal precedent.
We can only hope!!!!
“The initiative has the potential to release as much as $1-trillion of Russian money, according to the group of lawyers who are calling themselves the Ukraine Justice Alliance. But unlocking the sanctioned assets, much of which are located in opaque offshore jurisdictions, will be a complex and lengthy process with scant legal precedent.”
Great to know that there are at least some lawyers out there with integrity.
Mishcons would not be my first choice, but they are Rottweilers!