Significant victory for CANDEY client in High Court

High Court Judgment handed down on Thursday 26 September at 2pm.

CANDEY are delighted to report a significant victory for their client, Mikhail Goryainov, the Defendant in long-running Chancery Business List proceedings against Andrey Rogachev following a 12-day trial before HHJ Johns KC.

The parties are two businessmen who embarked upon a joint venture to acquire and develop a number of sites in Moscow to function as farmers’ markets. The JV was unsuccessful and short-lived, and the parties were then unable to agree upon financial terms as part of the termination of their business relationship. Mr Rogachev issued proceedings against Mr Goryainov in December 2018 in the High Court and obtained a without notice freezing order against Mr Goryainov, which was later discharged due to a failure by Mr Rogachev to give full and frank disclosure.

Proceedings continued for several years, and by the time of trial, Mr Rogachev was claiming a balancing payment from Mr Goryainov of C. $24 million. Mr Goryainov, by contrast, was claiming a balancing payment of C. $16 million from Mr Rogachev. The “swing” of the litigation was therefore around $40 million. In his judgment today, HHJ Johns KC, sitting as a Judge of the High Court, found in favour of CANDEY’s client on almost every point, resulting in a balancing payment now being due to our client. The precise calculation of that amount will be the subject of further expert work before a consequentials hearing to take place in December.

The CANDEY team acting for Mr Goryainov were Sam Claydon (Partner), Yana Chekavska (Solicitor) and Zoia Miller (Trainee Solicitor). CANDEY instructed Tim Akkouh KC and Sebastian Mellab, both of Essex Court chambers, as Counsel. Michelmores LLP acted for the Claimant and instructed Paul McGrath KC (Essex Court), James Shirley (Quadrant) and Maya Chilaeva (Quadrant).

Link to the judgment is here: Andrey Rogachev v Mikhail Goryainov [2024] EWHC 2436 (Ch).