On 23 September 2020, the England and Wales High Court (“High Court”) rendered its judgment in Riverrock Securities Limited v International Bank of St Petersburg (Joint Stock Company) granting Riverrock Securities Limited (“RSL”) an interim anti-suit injunction in respect of bankruptcy proceedings in Russia brought against RSL by the receiver of the International Bank of St Petersburg (“IBSP”).

The court held that the avoidance claims brought in the foreign bankruptcy proceedings fell within the scope of the LCIA arbitration agreements concluded between RSL and IBSP and were arbitrable as a matter of English law, even though such claims were non-arbitrable under Russian law.