Exiled Oslo Marine Group (OMG) owner Vitaly Arkhangelsky will have another chance to pursue his $467m counterclaim against Bank of St Petersburg (BSP) after the UK Court of Appeal ordered a retrial.
Sir Geoffrey Vos, chancellor of the High Court, issued a reluctant but devastating criticism of the trial judge in the case, finding that Justice Robert Hildyard had set too high a standard of proof in assessing the Russian shipowner's allegations of a Russian state-backed conspiracy against him.
