Day 16

(1) Bank St Petersburg PJSC (2) Alexander Savelyev v (1) Vitaly Arkhangelsky (2) Julia Arkhangelskaya (3) Oslo Marine Group Ports
LLC

Day 16 — Redacted

February 24, 2016

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February 24, 2016 Day 16 — Redacted

1 Wednesday, 24 February 2016 1 been copied before the stamp was filled in.
2 (9.00 am) 2 MR ARKHANGELSKY: But they are much worser copies than this
3 Housekeeping 3 one, so I assume it’s not possible.
4 MR JUSTICE HILDYARD: Good morning. 4 MR LORD: My Lord, the versions in the O bundle are either
5 MR ARKHANGELSKY: Good morning. 5 the originals or the best copies on the Bank file. The
6 MR LORD: May it please your Lordship, I am going to pick up 6 Bank files contain other copies of those documents,
7 the question of some of those documents that I took 7 which have made their way into disclosure, as you might
8 Dr Arkhangelsky to yesterday, where there were different 8 expect, and some of those documents were in the D run,
9 copies with the stamps on that the handwriting experts 9 which I took the witness to yesterday.
10 had seen. 10 MR JUSTICE HILDYARD: I am not finding this altogether easy
11 MR JUSTICE HILDYARD: Yes. 11 to understand, what your case is. Some of these
12 MR LORD: And I have had a bundle prepared, which is on 12 documents, you say, may have been copied before the
13 your Lordship’s bench, and Dr Arkhangelsky should see 13 stamp was put on?
14 a copy there. 14 MR LORD: Or filled in, my Lord, yes, because there are
15 MR JUSTICE HILDYARD: Is it this one? 15 copies in the Bank’s files, which we have seen from the
16 MR LORD: Yes, my Lord. 16 D bundles —
17 MR JUSTICE HILDYARD: Thank you. 17 MR ARKHANGELSKY: Which is very strange. I cannot
18 MR LORD: There is a schedule in there which identifies the 18 understand —
19 relevant number within the defendants’ appendix of 19 MR JUSTICE HILDYARD: Please do not interrupt,
20 disputed documents, that is down the left-hand side, and 20 Dr Arkhangelsky.
21 then there is a description of the document. 21 MR ARKHANGELSKY: Sorry.
22 MR JUSTICE HILDYARD: Yes. 22 MR LORD: Where there is either no stamp, or where there is
23 MR LORD: Then the relevant reference in the O file on 23 a stamp but it hasn’t been filled in, and therefore,
24 Magnum, drawn from a copy of what the handwriting 24 copies must have been taken at some stage within the
25 experts examined. 25 Bank’s records, but going back seven years I am not able
1 3

1 MR JUSTICE HILDYARD: Right.

2 MR LORD: I think I can take it quite shortly, my Lord,

3 because your Lordship will recollect there was some

4 debate yesterday about the question of the stamp.

5 MR JUSTICE HILDYARD: Yes.

6 MR LORD: My instructions are that the stamp is an internal

7 bank stamp, which it applies when it logs a document.

8 It sometimes takes some time after the document was

9 originally executed for that process to happen and

10 that’s the position as far as the stamp is concerned.

11 MR ARKHANGELSKY: But do you have any official instruction

12 for use of this stamp inside the Bank; if it has been

13 disclosed in these proceedings?

14 MR LORD: I will check on that, my Lord. I don’t at the

15 moment.

16 MR ARKHANGELSKY: It’s quite an important issue.

17 MR LORD: I wonder, Dr Arkhangelsky —

18 MR ARKHANGELSKY: I’m sorry, could I ask one small question.

19 The documents shown yesterday, what are they? I think

20 they are very much different, different colours, and so

21 on, so where are they came from and what is their

22 history?

23 MR LORD: My Lord, it appears that copies have been taken of

24 these documents, other copies. Some of them, as we saw

25 yesterday, do not bear stamps, therefore they must have

1 at this point to establish exactly the explanation for

2 each and every document.

3 But I’ve explained what the stamp is, I’ve explained

4 my instructions as to the process. These are documents

5 that were all found from the Bank’s files, and the Bank

6 vigorously rejects the idea —

7 MR JUSTICE HILDYARD: It can vigour as much as it likes, but

8 the thing is, there are two different versions, are

9 there, on the Bank’s files: the ones we were looking at

10 yesterday without the boxes; and these ones, which have

11 been obtained from where?

12 MR LORD: My Lord, these are also from the Bank’s files.

13 MR JUSTICE HILDYARD: So they had two versions, did they?

14 MR LORD: They had more than one —

15 MR JUSTICE HILDYARD: Were both disclosed?

16 MR LORD: Yes.

17 MR JUSTICE HILDYARD: These have always been disclosed, have

18 they?

19 MR LORD: Yes, my Lord.

20 MR JUSTICE HILDYARD: So there have been copies, as it were,

21 of the same document but with a different stamp on?

22 MR LORD: Yes, my Lord.

23 MR JUSTICE HILDYARD: Throughout the process?

24 MR LORD: My Lord, I think it is the same stamp, sometimes

25 filled in and sometimes not. But these have all been

2 4
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February 24, 2016 Day 16 — Redacted

1 disclosed, my Lord. 1 MR JUSTICE HILDYARD: That’s right, because there was
2 MR JUSTICE HILDYARD: Including the ones that were filled in 2 a great fuss about this, because at one moment the
3 after it is supposed the box was put on, which we now 3 process of trying to discover whether the documents were
4 see completed? 4 authentic came under some strain because
5 MR LORD: Yes, my Lord. 5 Colonel Levitskaya refused access to the expert
6 MR JUSTICE HILDYARD: And have these documents been matched 6 handwriting people. Hold on, Mr Arkhangelsky.
7 up with the other copies where no box appeared, to see 7 MR LORD: My Lord, I will have to take some further
8 that the seals, et cetera, are the same? I ask that 8 instructions on this, I think.
9 because you put to the witness documents which I took to 9 MR JUSTICE HILDYARD: I think so, and I think this is going
10 be the authentic versions. It now turns out that they 10 to have to be explained by evidence.
11 weren’t quite; that these are the versions on which the 11 MR LORD: Yes.
12 case ultimately has to be founded. 12 MR JUSTICE HILDYARD: It may be entirely regular, but at the
13 MR LORD: My Lord, I’m not sure that’s quite right. The 13 moment it’s odd. It’s odd. These look to be — I don’t
14 Bank’s stamp is applied after, as part of the Bank’s 14 know what you say about the triangle, and you obviously
15 logging process. So the underlying document with its 15 have the right to clarify that. There was another one
16 text and with its sealing and its signatures, would be 16 where I saw the triangle was, as we flicked through.
17 on the Bank’s files before the stamping process is 17 Not many. There was one at {O1/16/1}, {O1/17/1}; some
18 undertaken. 18 of them do and some of them don’t.
19 So I don’t think it’s quite right to say that the 19 MR ARKHANGELSKY: And you see at number 16 {O1/16/1} you
20 document, the underlying document, is actually changing; 20 have one more stamp, which is —
21 there are different copies of that document on the 21 MR JUSTICE HILDYARD: On the top?
22 Bank’s files that have a different degree of stamping, 22 MR ARKHANGELSKY: No, no, on the bottom, on the right-hand
23 but it’s not the case that the underlying document 23 corner, and it is not in full so it is really difficult
24 itself is changing. 24 to understand what is in it —
25 MR JUSTICE HILDYARD: Well, I don’t know. I haven’t 25 MR JUSTICE HILDYARD: That’s right, that’s by the stamp, the
5 7

1 compared them. This is a case where there are

2 allegations of multiple forgeries.

3 MR ARKHANGELSKY: Absolutely.

4 MR JUSTICE HILDYARD: It’s very, very unsettling.

5 I don’t know whether these have been matched up with

6 the documents I saw yesterday. There are one or two

7 things which I didn’t spot, for example, if you go to

8 {O1/17/1} there is a little triangle. What’s that?

9 MR ARKHANGELSKY: Yes, it’s a very good question, your

10 Lordship.

11 MR JUSTICE HILDYARD: Please don’t interrupt,

12 Mr Arkhangelsky. You can make some other point.

13 But what is that? I haven’t seen that before?

14 MR LORD: I’m not sure, my Lord.

15 MR ARKHANGELSKY: I can explain you. It’s written there

16 that it comes from the files of the police.

17 MR JUSTICE HILDYARD: Of the police?

18 MR ARKHANGELSKY: Of the police, yes.

19 MR JUSTICE HILDYARD: Ah, so these may be the files which

20 Colonel — beginning with L?

21 MR ARKHANGELSKY: Levitskaya.

22 MR JUSTICE HILDYARD: Levitskaya.

23 MR ARKHANGELSKY: But we’ve been told that not any original

24 documents been returned to the Bank. That’s been

25 a subject.

1 number —

2 MR ARKHANGELSKY: No, I think it also relates to some police

3 or something like that, so …

4 MR JUSTICE HILDYARD: Well, that’s supposition, we will have

5 to ask. I think that those with you need to bottom this

6 and find out exactly what all these stamps were, and

7 someone needs to ensure that the copies are plainly and

8 obviously copies taken before the completion of the box

9 so that these signatures match up and the seals match

10 up, et cetera, et cetera.

11 But in the case of forgery, to have a rival set of

12 documents purporting to be either the originals or

13 copies of the originals is pretty odd.

14 MR LORD: Yes, my Lord.

15 Can I take it up in evidence?

16 MR JUSTICE HILDYARD: Yes.

17 MR LORD: And we will have to file whatever evidence is

18 appropriate to bottom this out, as your Lordship says.

19 MR JUSTICE HILDYARD: Yes, but you only have Dr Arkhangelsky

20 here today.

21 MR ARKHANGELSKY: Your Lordship, may I just ask one small

22 question. It has always been a discussion that the Bank

23 doesn’t hold originals, and it’s also a question which

24 you have not — arising right now. We have seen a set

25 of documents yesterday, and this set of documents, which

6 8
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February 24, 2016 Day 16 — Redacted

1 they claim to be originals. Which set of documents has 1 be possible that Dr Giles tells that she has seen,
2 been shown to experts? If copies or originals — which 2 Levitskaya tells that she has not shown, and the most
3 of — 3 important, that it’s happened exactly 23 February
4 MR JUSTICE HILDYARD: I assume that these ones have. 4 in 2012, when it was absolutely public holiday in
5 MR ARKHANGELSKY: But not in originals, I assume. 5 Russia. 23 February, it’s a major public holiday,
6 MR LORD: My Lord, I don’t think that is right. These are 6 everything closed, and public holidays of people who
7 the documents that the experts have seen. 7 have been somehow devoted to army purposes, so for them
8 MR ARKHANGELSKY: Quite a number of originals been a subject 8 it is the major day in the year.
9 to many discussions in the court in Bulgaria and France, 9 We haven’t seen any proper explanations. We’ve been
10 and they were claiming that they don’t have originals; 10 promised, but never, ever.
11 everything been taken over by Levitskaya and she doesn’t 11 MR JUSTICE HILDYARD: Mr Lord, because of your industry, you
12 want to return, what we’ve been told. 12 may know about this, but this was a row which occurred
13 MR JUSTICE HILDYARD: Well, it is relevant at a number of 13 during Mr Marshall’s tenure. It was quite an extended
14 levels. If you have access to documents from 14 row over many hearings. I can’t remember the details of
15 Colonel Levitskaya which the court and its experts have 15 the row, but I remember it becoming quite awkward.
16 been deprived of and which the defendants have been 16 I think we have to remind ourselves of that. As
17 deprived of, that is a relevant matter. 17 I say, I can’t remember the details, but I think the —
18 MR LORD: But that’s not right, my Lord. 18 where these documents were in their various versions,
19 MR JUSTICE HILDYARD: I don’t know whether it is right or 19 and how the originals were obtained, if they ever left
20 not. I want to know about that triangle. I want to 20 the Bank, is going to be something I will want a full
21 know what the other — and the box under the rectangular 21 explanation on, and I leave it in your care.
22 box on tab 16 {O1/16/1} is. I want to have 22 MR LORD: Yes, my Lord.
23 an explanation of what these additional markings are. 23 In terms of putting this material to
24 It may be that they are on the copies I saw yesterday. 24 Dr Arkhangelsky, would your Lordship like me at least to
25 I just can’t remember. I just didn’t spot them then. 25 invite him to make any comments on these documents?
9 11

1 MR ARKHANGELSKY: No, no, no, we haven’t seen these for

2 sure.

3 MR JUSTICE HILDYARD: Dr Arkhangelsky, your memory is better

4 than mine. I don’t want to say that because I can’t

5 remember. All I can say is that I didn’t notice them.

6 MR ARKHANGELSKY: The major problem there yesterday was that

7 it was really very, very bad copies of documents, so …

8 MR JUSTICE HILDYARD: We can’t go on and on chatting about

9 this; we have just got to get to the bottom of this.

10 MR LORD: Can I show your Lordship Mr Radley’s report,

11 {E1/6/11}, if that could be put on screen, please,

12 paragraph 14.

13 My Lord, I will obviously bottom this out and

14 explain.

15 MR JUSTICE HILDYARD: Yes, please.

16 MR LORD: We will obviously have to consider what evidence

17 we need to file.

18 MR ARKHANGELSKY: Your Lordship, I am sorry, just to remind

19 you, I don’t know how it’s important for these

20 proceedings, but in Dr Giles’ report, she was claiming

21 that she’s seen originals in the police office, and you

22 remember Mr Nazarov sent her a letter, to Ms Levitskaya,

23 and she said she never, ever shown these, and we’ve been

24 told by that time, Baker & McKenzie, that they would

25 file a full explanation what’s happened, so how could it

1 There’s obviously a stamping issue, an annotation issue,

2 but I am not sure if there is anything else he would

3 want to say on these documents, assuming that the

4 concern —

5 MR JUSTICE HILDYARD: Well, I will give him that

6 opportunity, but if there is something that arises which

7 you haven’t put, well, there we are, we have passed it.

8 We will just have to see how we deal with that.

9 Dr Arkhangelsky —

10 MR LORD: My Lord, we say that these are authentic

11 documents —

12 MR JUSTICE HILDYARD: Yes.

13 MR LORD: — that your Lordship has raised queries about the

14 provenance, which I understand, but it must be right

15 that I can put —

16 MR JUSTICE HILDYARD: Yes, of course now, of course, yes.

17 MR LORD: I am putting, simply, that these are authentic

18 documents that were signed or authorised by

19 Dr Arkhangelsky, no more, no less, and, really, I wanted

20 to give — to make sure that I have put these documents

21 to him, because much was made yesterday of the absence

22 of the stamp, and I hadn’t — it was my fault: I hadn’t

23 appreciated the significance of the stamp, and

24 I understand that now and I want to take that on board.

25 But I wanted the witness to have a chance to comment on

10 12
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February 24, 2016 Day 16 — Redacted

1 these documents. 1 number, it’s at the bottom. I don’t think — in Russia,
2 MR JUSTICE HILDYARD: You are quite right to do so. 2 if anything done, it’s done officially, so number and
3 MR LORD: Simply, if the stamp concern and the other 3 date or something like that, but 438, I think it’s for
4 annotation concerns, put those on one side, if it 4 one of the proceedings, probably.
5 transpires that your Lordship finds these are authentic 5 MR JUSTICE HILDYARD: Well, there is a question for you. It
6 documents and that the underlying text and the sealing 6 may not be a very good, relevant question, but we had
7 and signatures have not been in any way forged or 7 better know what the answer is.
8 fabricated, as alleged, I would like to put to this 8 What does the stamp at the top left say? In each
9 witness these documents so that he has had 9 case, I think it’s the same. Again, it is with what
10 an opportunity to say anything he wants to about them. 10 looks to the —
11 He obviously doesn’t need to repeat the same points 11 MR ARKHANGELSKY: It’s written that it’s a «commercial
12 again, but I thought out of fairness I ought to draw to 12 secret».
13 everyone’s attention the fact that I became aware of the 13 MR JUSTICE HILDYARD: «Commercial secret»?
14 fact that there were a series of better copies, bearing 14 MR ARKHANGELSKY: On the right-hand side; and on the
15 the stamps — 15 left-hand side, it’s written «Confidentially», which —
16 MR JUSTICE HILDYARD: We are at cross purposes. What I was 16 you know, all this looks extremely strange.
17 saying is you have him today. You can put — 17 MR JUSTICE HILDYARD: «Confidentially» and then «commercial
18 MR LORD: Oh sorry, my Lord, I do apologise. 18 secret».
19 MR JUSTICE HILDYARD: — whatever you like to him today, but 19 MR ARKHANGELSKY: Yes, because I cannot even imagine —
20 you are going to be in difficulties hereafter. 20 MR JUSTICE HILDYARD: Do you accept that, Mr Lord, or do you
21 Now, Dr Arkhangelsky, you have heard all that: are 21 want it …
22 there points on any of these documents — I mean — 22 MR ARKHANGELSKY: I think it’s because they probably didn’t
23 MR ARKHANGELSKY: You want me to go through them right now, 23 want anybody in the Bank to see these documents, so it
24 or … I mean … 24 means that they have some special procedure of storing
25 MR JUSTICE HILDYARD: Well, if you have particular points. 25 these and different level employees would not simply
13 15
1 MR ARKHANGELSKY: Just one minute. 1 have an access. So it, again, comes to some of their
2 MR JUSTICE HILDYARD: Do you want some time to have a look 2 games.
3 at these when we break at some point? 3 MR JUSTICE HILDYARD: Well, add that to the list of
4 MR ARKHANGELSKY: Up to you. Up to you. 4 explanations, please.
5 MR JUSTICE HILDYARD: I can’t tell what time you need. 5 MR ARKHANGELSKY: Your Lordship, I think it would be really
6 MR ARKHANGELSKY: No, no, just I think I need just 6 good to understand, if they have guidelines, where and
7 one minute to go through. 7 how they put all the stamps, like «commercial secrets»
8 MR JUSTICE HILDYARD: Whose are the numbers in the top 8 or «confidential»; on which particular documents they do
9 right? I mean, for example, in tab 18 {O1/18/1} there 9 this. It should be in — they should have a process of
10 is a number, 438, whereas in tab 20 {O1/20/1} there is 10 keeping secrets inside the organisation.
11 a number which looks like 29. What are those numbers? 11 MR JUSTICE HILDYARD: Well, do you have any protocols or
12 MR ARKHANGELSKY: Sorry, which document you are referring 12 guidances which have not been disclosed to disclose? If
13 to? 18 is? 13 they have been disclosed, could you give the reference,
14 MR JUSTICE HILDYARD: In tab 18 {O1/18/1} at the top right 14 please?
15 in biro, it looks like 438. Are those, as it were, 15 MR LORD: Yes.
16 organisational numbers, or do they appear on the 16 MR ARKHANGELSKY: These have not been disclosed for sure.
17 originals? 17 MR JUSTICE HILDYARD: Carry on, Dr Arkhangelsky; do you have
18 MR ARKHANGELSKY: You cannot understand that, really, from 18 any other points?
19 this, my Lord. 19 It’s the case that you deny, is it, each of these
20 MR LORD: I understand, my Lord, that when the Bank puts it 20 signatures?
21 on a file, somebody handwrites the number of 21 MR ARKHANGELSKY: Yes, I deny, I deny, yes. What I’ve just
22 the document on the file when they file it. 22 seen, I deny.
23 MR JUSTICE HILDYARD: I see, so those numbers at the top 23 Your Lordship, what would be interesting also, as
24 right — 24 long as you mention this numbering on the right-hand
25 MR ARKHANGELSKY: I don’t think so. I don’t think so. The 25 side top corner, there are numbers, so just it’s
14 16
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February 24, 2016 Day 16 — Redacted

1 interesting, you know, what is the number before and the 1 signatures. {O1/13/2}.
2 number after, so where are they taken from? 2 On the document {O1/14/1}, for example, we have
3 MR JUSTICE HILDYARD: Do you mean the typed numbers? 3 RF stamp, which is covering something which is written
4 MR ARKHANGELSKY: No — 4 behind, above A14. So they covered by this yellow label
5 MR JUSTICE HILDYARD: The RF0 numbers? 5 something which we cannot understand, if it’s another
6 MR ARKHANGELSKY: No, no. For example, if we see document 6 number or, I don’t know what is it there.
7 {O1/20/1}, on the right-hand side top hand corner, 7 MR LORD: I think that was put on by Dr Giles, my Lord, but
8 I think it is 29. 8 I will check.
9 MR JUSTICE HILDYARD: Yes. 9 MR ARKHANGELSKY: I don’t think it’s allowed for an expert
10 MR ARKHANGELSKY: It’s really interesting what you have 10 to put any …
11 said — 11 MR JUSTICE HILDYARD: Well, don’t — I just want
12 MR JUSTICE HILDYARD: That’s what I’ve asked. 12 explanations, not comments.
13 MR ARKHANGELSKY: No, no, but what I’m asking: what is 13 Are there any other issues you wish to take with
14 the document number 28 and 30? 14 these documents?
15 MR JUSTICE HILDYARD: I see. You want to understand how the 15 MR ARKHANGELSKY: I’m just finalising these. Document
16 sequence is built up? 16 {O1/16/1}, as we said, it’s having a different stamp.
17 MR ARKHANGELSKY: Yes, yes, yes, yes. What is also 17 (Pause)
18 interesting, in — if we also see this document, 18 Ah, it’s interesting that on document {O1/17/1}, you
19 number 20, on the second page, I don’t think we’ve seen 19 have a signature of Mrs Blinova, and she — what is
20 this. Quite a number of people signed these documents 20 written in the Russian language is different to
21 and it is written here that the authenticity of 21 the previous documents; that she has compared — she,
22 the signatures and stamps are compared {O1/20/2}. For 22 herself, compared authenticity of the signature.
23 example, on this document number 20, you have 23 {O1/17/2}
24 a signature, but you don’t have a family name. So we 24 MR JUSTICE HILDYARD: Is that the bit which is written as
25 not seen any disclosure from any of these people or no 25 opposed to typed? Do you mean in the handwriting?
17 19
1 any witness statements from these people; you see what 1 MR ARKHANGELSKY: In the handwriting here. On the previous
2 I mean, yes? 2 documents it’s typed, and it’s typed that it’s kind of
3 MR JUSTICE HILDYARD: Yes, I can’t remember whether any were 3 standard —
4 two pages or not. I just can’t remember. 4 MR JUSTICE HILDYARD: Yes, I see, yes.
5 MR ARKHANGELSKY: Referring to their procedure, what they 5 MR ARKHANGELSKY: And here you have Blinova handwriting, and
6 disclosed here, all of them should have — 6 she’s not referring to stamps. She’s just referring to
7 MR JUSTICE HILDYARD: I already asked for that. Any other 7 signatures, because before in the previous documents
8 points? 8 they were also referring to the stamps.
9 MR ARKHANGELSKY: Just in this particular for example, 9 MR JUSTICE HILDYARD: Yes.
10 number 20, third line, you have a signature but you 10 MR ARKHANGELSKY: But this is the only document so far where
11 don’t have a name. So it means that somebody checked 11 we see that authenticity of the signature has been done
12 the signatures, I don’t know at which stage, and the 12 by Blinova.
13 stamps, but you don’t even have a family name, and we 13 MR JUSTICE HILDYARD: What is the — you might also find
14 haven’t got any explanation who, when and how done that, 14 out, Mr Lord, what the stamp on an otherwise blank
15 so I assume it had to be done in witness statements. 15 document at {O1/22/2} is, just so I understand it all.
16 And, for example, if you go to the next document, 16 There’s a similar stamp at {O1/22/4} on a document with
17 number 13, {O1/13/1} I see that the signatures and 17 some handwriting on it.
18 people are different ones. So at least was who checked 18 MR ARKHANGELSKY: From Russian language I cannot understand
19 the signatures. 19 what is this. So, probably it’s one more police stamp.
20 I think it’s quite important for these proceedings 20 MR JUSTICE HILDYARD: What’s the document at {O1/22/4}? Is
21 who made this comparison. I may assume that it might be 21 that meant to be — is that Dr Arkhangelsky’s signature
22 some people like Mironova or Blinova or anybody else, so 22 on the bottom?
23 that’s what we haven’t been told, but that’s a key issue 23 MR ARKHANGELSKY: They claim so, I think, yes.
24 to ask bank witnesses. I see from the document it’s at 24 MR LORD: It is, and I think that that was an original.
25 least two people who made the comparison of these 25 I think that was from Dr Giles’ evidence.
18 20
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February 24, 2016 Day 16 — Redacted

1 MR JUSTICE HILDYARD: I see.

2 MR LORD: That was actually an original document that she

3 was able to see.

4 MR ARKHANGELSKY: But on top of that we again see that

5 somebody has compared signatures and the stamps, but

6 I can’t actually, by the way, understand which stamps

7 they compared, because there are no any stamps there.

8 And there is a signature but name, so we cannot

9 understand who from the Bank can give any evidence on

10 that.

11 MR JUSTICE HILDYARD: All right. Well, you have raised

12 a number of points. If you have any — you must pore

13 over them and you must have another look over some break

14 in the proceedings.

15 MR ARKHANGELSKY: On document number {O1/23/2} there are one

16 more stamp, round stamp, on the second page.

17 MR JUSTICE HILDYARD: Yes, with the funny sort of …

18 MR ARKHANGELSKY: Star, or whatever.

19 MR JUSTICE HILDYARD: Yes.

20 MR ARKHANGELSKY: Yes. And there is a signature of

21 Mrs Yashkina, now it’s the first time it appears, that

22 she compared signatures and stamps, but, again, I cannot

23 understand which stamps she has compared, because there

24 are no any stamps which could belong to me.

25 So the last document, {O1/25/1}, {O1/25/2}, it’s

1 MR LORD: Dr Arkhangelsky, I put to you that the agreements

2 we see in this O bundle that you have seen today, that

3 you did, in fact, sign and authorise all of them?

4 A. I have not signed all of them, and just for —

5 Q. Sorry, Doctor, can I put to you: these are all genuine

6 agreements.

7 A. You say that?

8 Q. Yes, I’m suggesting to you they are.

9 A. I never signed them, and I believe that they’ve been

10 done by the Bank.

11 Q. Can I ask you to go in your pleading, please, to

12 the schedule at {A1/2/73}. If you have on screen,

13 please, on the second screen, {A1/2/8}, you can see this

14 is from your statement of case, paragraphs 24 and 25

15 alleged that a large number of documents are forgeries.

16 You say in 25:

17 «The relevant documents whose authenticity is denied

18 are listed in the Schedule of Disputed Documents

19 attached herein as appendix 1.»

20 A. Yes, and:

21 «The Defendants reserve the right to dispute the

22 authenticity of any such document.»

23 That’s true.

24 Q. If we go to that schedule, please, {A1/2/73} you list

25 28 documents there. If you could scroll down, please,

21 23

1 a strange stamp on the second page, so I have not signed

2 any of these documents.

3 My major concern, I cannot really understand, like

4 in the case with Blinova, about how we can have two sets

5 of — at least two sets of absolutely different

6 documents, and for me it’s hard to believe that in

7 the process of filing the documents, they make

8 intermediary copying of that. So that’s quite strange

9 for me.

10 MR JUSTICE HILDYARD: Well, I have asked for their

11 protocols, if any, for them to be identified or

12 disclosed, according to the position. I think that —

13 MR ARKHANGELSKY: I don’t have any more comments.

14 MR JUSTICE HILDYARD: No, I think we have probably done that

15 for the moment.

16 MR LORD: Yes, my Lord. We will obviously address those

17 points.

18 MR JUSTICE HILDYARD: Thank you very much.

19 I wonder whether at some point all the documents

20 signed by — is it Mrs Tarasova? She is your —

21 MR ARKHANGELSKY: It’s mother of my wife.

22 MR JUSTICE HILDYARD: Yes, your mother-in-law — in D116, if

23 they could be assembled, please. Thank you.

24 MR VITALY DMITRIEVICH ARKHANGELSKY (continued)

25 Cross-examination by MR LORD (continued)

1 to {A1/2/74} and {A1/2/75}.

2 I put to you, Dr Arkhangelsky, that those are all

3 genuine agreements.

4 A. Absolutely not.

5 Q. And that you have invented a case that they are forged

6 or fabricated by the Bank.

7 A. Absolutely not.

8 Q. I am going to ask you, please, now, about some of your

9 claims to have suffered persecution in this case.

10 Wasn’t the real reason you left Russia in the middle of

11 2009 to get away from your creditors?

12 A. Absolutely not. The only conflict by that time I had

13 with the Bank of St Petersburg, and I’ve been told, as

14 you remember, in my witness statement, that the police

15 want to arrest me because I want to struggle for my

16 assets.

17 Q. Can you be shown {D136/2252.3/1}, please.

18 This is a document from your disclosure,

19 Dr Arkhangelsky.

20 A. Yes.

21 Q. And it is dated January 2010.

22 A. Yes.

23 Q. And it looks to be some sort of circular or memorandum

24 promoting the development of a wood and chipboard

25 complex in Shaglino, in the Leningrad region?

22 24
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1 A. Yes.

2 Q. Can his Lordship take it that you did cause this

3 document to be drawn up?

4 A. This document been produced by the — one of the leading

5 Finnish company, specialised in chipboard and saw

6 milling, and it was done in 2008 and 2009.

7 Q. If we go onto page 2, you can see that the background is

8 set out. {D136/2252.3/2}

9 A. Yes.

10 Q. «OMG to establish a complex consisting of:

11 «Saw mill factory …»

12 And so on?

13 A. Yes.

14 Q. If you go onto page 3, {D136/2252.3/3} please, you can

15 see that the advantages of the project are set out.

16 A. Yes.

17 Q. «Government of Leningrad Region has approved

18 construction of the factory (process normally takes

19 3 years).»

20 A. Yes, I’m referring to 2007, 2008, and 2009

21 documentation.

22 Q. And you can see there is a picture of you there with

23 Mr Materov?

24 A. Yes, that’s at the Chicago exhibition which we discussed

25 yesterday.

1 Mr Lukyanov?

2 A. Can I have a Russian version, please? {D104/1408/2}.

3 Yes.

4 Q. To the chairman of the management board of V-Bank?

5 A. Yes.

6 Q. You can see what is said there.

7 A. Yes.

8 Q. It is right, isn’t it, then, Dr Arkhangelsky, that

9 certainly at the end of 2008, or December 2008, you had

10 material support from the plenipotentiary representative

11 of the President of the Russian Federation in the north

12 west federal district?

13 A. What do you mean, material support?

14 Q. Well, you were having a letter — that Mr Lukyanov is

15 writing a letter in support of this project, isn’t he?

16 A. Yes, he is.

17 Q. And therefore in support of a project that you are

18 trying to advance?

19 A. It’s done in the support of the Government of Leningrad

20 Region, because I decided at that time, with support of

21 V-Bank, to construct a very big factory for that area,

22 which was placed in the depressed area, so in the area

23 where we had a high unemployment rate, so the local

24 authorities were really very much interested to get this

25 factory running.

25 27
1 Q. So is it right that you were considering implementing or 1 Q. Yes, Dr Arkhangelsky, I’m not criticising or suggesting
2 pursuing this project at the beginning of 2010? 2 there’s anything wrong with that.
3 A. Yes. 3 A. No, no, I’m just explaining that —
4 Q. Doesn’t it follow from that that you must have been 4 Q. I’m suggesting to you that what that letter shows is
5 confident in early 2010 that you would be able to 5 that you had good contacts with politicians in Russia as
6 develop this project without obstruction from any 6 at December 2008, didn’t you?
7 Russian state official? 7 A. As I told you yesterday, I’ve been the head and owner of
8 A. The land in this project was mortgaged to V-Bank. So it 8 the biggest local group of companies, and I’ve been well
9 was V-Bank’s desire that, even living in Russia — 9 accepted, at least for the purposes of the meetings,
10 sorry, in Nice, that even living in Nice, this project 10 with most of the local bureaucrats.
11 to be finalised. 11 Q. If you could be shown {D117/1767/1}, please, and
12 So in 2008 and 2009, OMG companies which been 12 {D117/1767/4} is the Russian.
13 financed by V-Bank, Vozrozhdenie Bank, made prepayments 13 This is a letter of 8 April 2009, Dr Arkhangelsky,
14 for construction and ordering equipment. So there were 14 and you can see it is a letter —
15 two Finnish — leading Finnish companies. One of them, 15 A. Can I see the Russian version, please?
16 as far as I remember, is Jartek; the second one is 16 Q. It’s on screen now.
17 Dieffenbacher, and we made quite substantial prepayments 17 A. Yes.
18 for the equipment, for the chipboard and saw mill 18 Q. And it was a letter written by you to Mr Fyodorov.
19 factories. 19 A. I think it’s the same letter we discussed yesterday,
20 So I am referring here to the land in Swir region 20 or …?
21 and V-Bank wanted not to lose the investments done, and 21 Q. It might be, yes, but can I just ask you to look at it,
22 they asked me to continue working on this project, for 22 because it is in relation, isn’t it, to this Shaglino
23 sure. 23 project?
24 Q. If you go to {D104/1408/1}, and also {D104/1408/2}, 24 A. Yes.
25 please, you can see a letter dated 12 December 2008 from 25 Q. So — and you are writing to Mr Fyodorov asking him to
26 28
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1 help support the project?

2 A. Yes.

3 Q. If you go to the end of the letter, the final paragraph,

4 you say: {D117/1767/2} {D117/1767/5}

5 «I hereby request that you support the project…»

6 Can you see that?

7 A. You want me to read the last one, yes?

8 Q. Yes, the last paragraph.

9 So it is right, isn’t it, Dr Arkhangelsky, that as

10 of 8 April 2009, you had good connections with Russian

11 politicians?

12 A. I’ve been writing letters to everybody at that time, to

13 the banks and to politicians, so what do you mean, «good

14 connections»? So I had write, as always — and even

15 from emigration, I’ve been writing to Putin, Medvedev,

16 Prokhor or General of Russian Federation, telling that

17 they have to solve the situation. So I’ve been writing,

18 never getting replies, but I’ve been writing, yes.

19 Q. And I just suggest to you that this sort of letter and

20 the relationship that it — and the connection that it

21 shows, sits uneasily with your contention that you were

22 a victim of Russian State persecution as at April 2009.

23 A. No, I cannot agree with you. I cannot see any

24 connection between one and another.

25 Q. I want to ask you, please, about your allegation against

1 A. Absolutely.

2 Q. By the claimants and those connected with them.

3 A. Absolutely.

4 Q. Then you set out a series of actions.

5 A. Yes.

6 Q. Then over the page, under «France», you identify

7 extradition, don’t you? {A1/2/54}

8 A. Yes.

9 Q. And if you go in your witness statement, please, to

10 {C1/1/18}, at paragraph 69 you say this:

11 «The close connections of the Bank to the political

12 elite and its ability to manipulate the law enforcement

13 authorities in St Petersburg cannot be overstated.»

14 A. Yes, that’s absolutely true, yes.

15 Q. I suggest that’s not true.

16 A. No, that’s absolutely true.

17 Q. «This has had a material impact on my ability to

18 prosecute my claims against the Bank.»

19 A. Absolutely, yes, that’s absolutely correct.

20 Q. And I suggest it is not right that you have any basis

21 for saying the Bank of St Petersburg has been

22 responsible.

23 A. They were responsible, and as been discussed previously

24 in these proceedings, that the lawyers of the Bank was

25 trying to replace Russian Federation in these

29 31

1 the Bank in relation to extradition. Can you be shown

2 the pleading, please, {A1/2/53}.

3 A. Which paragraph?

4 Q. Paragraphs 172 to 173. On {A1/2/53} —

5 A. Sorry, sorry, do I need to read that or …?

6 Q. Paragraph 172?

7 A. Yes.

8 Q. You referred to an extradition request by the Russian

9 State against you; do you see that?

10 A. Yes.

11 Q. And then in 173, you say:

12 «This campaign of persecution was organised as

13 a part of the conspiracy.»

14 A. Absolutely.

15 Q. And you go on to say:

16 «Without prejudice to the generality of

17 the foregoing, it was calculated to prevent the

18 defendants from proceeding with their claims against the

19 claimants …»

20 A. Sorry?

21 Q. It’s paragraph 173. Just read paragraph 173.

22 A. Yes. (Pause)

23 Absolutely, yes.

24 Q. And you allege it was to jeopardise the defendants’ work

25 in defending themselves in numerous legal actions?

1 proceedings.

2 Q. I am going to come to that in a minute. One minute,

3 I’ll take you to Mr Ameli’s evidence on that.

4 Next sentence:

5 «The blizzard of civil, criminal and extradition

6 proceedings which the Bank has launched or caused to be

7 launched in Russia and in France has of course proved

8 enormously distracting, confusing and oppressive, as was

9 no doubt the Bank’s intention.»

10 A. Yes, absolutely true.

11 Q. I want you, please, to look at your BVI affidavit,

12 {M1/20/67}, paragraphs 214 to 218.

13 A. For your Lordship understanding, that when I started my

14 BVI proceedings, I was still in the middle of

15 extradition, so it has not been finished by that time

16 anyway. So it was going on for almost two years. So

17 I’ve been completely — I could not leave Nice. I had

18 to stay in Nice. I spent 11 days in the prison, and so

19 for almost two years I had to go to the court on at

20 least monthly basis, and the court is 200 kilometres

21 from Nice, and I was limited in ability to travel.

22 So I couldn’t leave Nice, or I only could go to

23 Nice, Aix-en-Provence where the court is, and Paris

24 only — I could go to Paris only to meet lawyers.

25 So for two years I’ve been, like, at home without

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1 any ability to do anything. 1 the nearest police office just to file that, and you
2 Q. In paragraph 215, you say, don’t you, you purport to 2 never go to the head of the regional police office in
3 explain the basis for the extradition request by Russia? 3 his personal presence to file this complaint. So that
4 A. Yes. 4 shows the direct connection and orchestration of any
5 Q. And that was a complaint by Morskoy Bank, wasn’t it? 5 claims.
6 A. Yes. 6 Q. I suggest to you, Dr Arkhangelsky, that you have no
7 Q. And at {D51/2522/1} — 7 basis for alleging that Bank of St Petersburg played any
8 A. No, no, sorry, no. Can we just check once again. Can 8 part in seeking your extradition.
9 you put the question? 215; yes? 9 A. It’s the Bank of St Petersburg who was doing this.
10 Q. Yes. 10 MR LORD: My Lord, I’ve seen two people at the back of
11 A. It relates to loan from Morskoy Bank, but the claim was 11 the court. I don’t know whether they are recording
12 filed, initially filed, by the Bank of St Petersburg. 12 proceedings. They have been — I have just become aware
13 Q. Could you be shown {D151/2522/1}, please. This is the 13 that they seem to have gadgets there. I don’t know
14 judgment of the French court in relation to extradition. 14 what’s going on.
15 A. Yes. 15 MR JUSTICE HILDYARD: Are you members of the public or
16 Q. Dated 10 November 2011, and you can see the final 16 members of the press?
17 decision. 17 MEMBER OF THE PRESS: I am a journalist.
18 A. Yes. You mean the first extradition proceedings? 18 MR JUSTICE HILDYARD: Have you been recording these
19 Q. Yes. 19 proceedings?
20 A. Here they are referring to the first — decision of 20 MEMBER OF THE PRESS: No, no, no.
21 the first extradition proceedings, because two days 21 MR JUSTICE HILDYARD: You have no recording device?
22 after the court made the decision, Russia started a new 22 MEMBER OF THE PRESS: Not by all means, no.
23 extradition proceedings, and your Lordship would be 23 MR JUSTICE HILDYARD: Simply so that anyone in court should
24 laughing that the basis for the new extradition 24 understand, and I don’t make an accusation, I simply
25 proceedings, one of the criminal cases they wanted to 25 make an explanation, that recording of proceedings by

33

1 claim to me, it’s illegal adoption of kids. So that was

2 absolutely impossible, you know. I only been married

3 once, I have three — my own kids, but they decided to

4 avoid any political relations to any extradition, so

5 they just — Levitskaya decided to introduce a new

6 criminal case on illegal adoption of kids. That’s for

7 sure I never, ever been even thinking about.

8 So they were trying to make this second extradition

9 based on this assumption. Plus all the previous ones.

10 Q. If you look at {D151/2522/15} you can see that the

11 decision of the French Investigation Chamber was that it

12 did not give its agreement for your extradition.

13 A. Yes, that’s true.

14 Q. What I want to show you, please, is {D151/2522/4}, the

15 top paragraph, which describes the arrest warrant.

16 A. Yes.

17 Q. It is in relation, isn’t it, to a complaint by

18 Morskoy Bank, and not Bank of St Petersburg?

19 A. No, I think it’s in relation to a complaint by the

20 Bank of St Petersburg in August 2009.

21 So initially, Bank of St Petersburg, through

22 Sevzapalians’ director, applied directly to

23 Mr Piotrovsky, and they started this criminal case.

24 And for your Lordship’s understanding, that normally

25 if anybody wants to make a complaint, they go to

35

1 any mechanical device in court without the permission of

2 the judge is contrary to our rules which apply here and

3 would be a contempt of court.

4 MEMBER OF THE PRESS: I understand.

5 MR JUSTICE HILDYARD: Very good. You are perfectly at

6 liberty to make such notes as you wish, but recording,

7 without my permission, is not permissible.

8 MEMBER OF THE PRESS: Yes, I understand.

9 MR JUSTICE HILDYARD: Thank you.

10 Yes. I cannot remember, Mr Lord, whether we have

11 seen any evidence of it, but my understanding is that it

12 is Dr Arkhangelsky’s position that at some point the

13 loan which had been extended by Morskoy Bank was taken

14 over by Bank of St Petersburg. I may have got that

15 wrong, but that is my —

16 A. No, you are absolutely correct, yes.

17 MR JUSTICE HILDYARD: — understanding. At what date was

18 that done and is there any disclosure of it?

19 MR LORD: Yes, my Lord —

20 A. I don’t think that Bank of St Petersburg done any

21 disclosure. I think it’s —

22 MR JUSTICE HILDYARD: Hold on. I am just asking Mr Lord

23 a question. I raise it now because of the time

24 constraints, and it may be something that needs to be

25 put. I do not know whether you accept there was such

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1 an assignment, or evasion, or anything else. I don’t 1 paragraph 19, Dr Arkhangelsky, you can see what Mr Ameli
2 know, but — 2 says.
3 MR LORD: If we have {B2/12/10}, which is the witness 3 A. Sorry, 19?
4 statement of Mr Smirnov. 4 Q. If you just read it — 19, yes. I think you suggested
5 MR JUSTICE HILDYARD: Yes. 5 yesterday —
6 MR LORD: Your Lordship, I think, has in mind, 6 A. Sorry, can I just read it first? (Pause)
7 paragraphs 54 to 56. 7 Yes.
8 MR JUSTICE HILDYARD: I had forgotten these paragraphs. Can 8 Q. I think you may have suggested yesterday that one of
9 I read them, sorry? 9 the Bank’s representatives appeared on behalf of —
10 MR LORD: Yes. (Pause) {B2/12/26} 10 actually represented at the extradition hearing.
11 MR JUSTICE HILDYARD: Thank you, so it is {D143/2400/1} and 11 I think you said that yesterday?
12 the date is 22 February 2011, and I can have a look to 12 A. Mr Marc Bernier at one of the most important hearings in
13 see whether they had assigned all rights as well as … 13 Aix-en-Provence, he wore the clothes which relates to
14 but at the time — 14 the advocate, and it’s not allowed in the French court
15 MR LORD: And it’s to Sevzapalians. 15 if you are not an advocate in these proceedings. So you
16 MR JUSTICE HILDYARD: Yes. Oh, I see, yes. 16 wear this special — this suit only if you are
17 A. But I think Mr Smirnov was not writing that it was 17 representing anybody in these proceedings.
18 Sevzapalians who filed an initial claim, so it was kind 18 So he was in this suit and he stand up in the court,
19 of — in these criminal proceedings, Sevzapalians filed 19 in this Aix-en-Provence Court of Appeal, and he said
20 the initial claim and then they pressed to Morskoy Bank 20 that he want to represent Russian Federation, and then
21 that they also filed the claim on the same issue. But 21 the judge said that it’s not possible, because based on
22 Mr Smirnov was not writing about that, as far as 22 this inter-governmental convention, it is the French
23 I understand, while we filed evidences in these 23 procurer who represents interests of the Russian
24 proceedings with the signature of Mr Piotrovsky and his 24 Federation. So no lawyer or advocates or anybody else
25 references. 25 allowed to be at that hearing — I mean, telling
37 39

1 And for your understanding, 11 February 2011, it’s

2 just first two or three months of the extradition

3 proceedings, so that was the most difficult, busy timing

4 in my extradition proceedings.

5 MR JUSTICE HILDYARD: When were the Morskoy Bank proceedings

6 brought? December 2009?

7 A. Your Lordship, it was — we are speaking that that was

8 one criminal case, but it was started by Sevzapalians

9 in August 2009, and then let’s say a second

10 application — after the Morskoy Bank went through

11 strong cross-examination by Levitskaya, so she proved

12 them that they also should have to file the claim, so it

13 was like a second claim in the same proceedings.

14 MR LORD: If I could show you, please, {C1/1/4}.

15 A. But, sorry, Mr Smirnov was not writing about that they

16 done this claim. So he is hiding this fact.

17 MR JUSTICE HILDYARD: With fortune on our side, he may be

18 able to explain this, but we haven’t got him here today.

19 A. May I return to this point afterwards? I came to know

20 quite an important information about him and —

21 MR JUSTICE HILDYARD: Yes; you must keep that under your

22 belt for the moment, thank you.

23 A. Yes, sure.

24 MR LORD: {C1/4/4} is Mr Ameli’s statement in these

25 proceedings served on behalf of the defendants. In

1 anything to the court. You definitely may file in

2 an official way any documents.

3 So Mr Bernier wanted to tell something to the court

4 on behalf of the Russian Federation while being advocate

5 of the Bank of St Petersburg. So the judge was very

6 much disappointed. There were three judges sitting in

7 the Court of Appeal, and the judge was very much

8 disappointed, and he said: okay, you just sit down,

9 otherwise you will be thrown away by the security.

10 Q. Were you present, Dr Arkhangelsky?

11 A. Of course. Of course I was there. I wasn’t sitting in

12 the criminal box.

13 Q. And Mr Ameli’s statement doesn’t include the evidence

14 you have just given, does it?

15 A. You see, it is up to Mr Ameli to discuss —

16 Q. I will ask him.

17 A. — I think he maybe has not told anything — I mean, he

18 has not told all the things because, you know, it was

19 quite a normal situation for the French court, because

20 the French court, it’s very relaxed and very silent and

21 very sleepy and so on. But …

22 MR JUSTICE HILDYARD: In any event, you were there, and

23 that’s what you say.

24 A. Of course. Of course. Of course. And there were quite

25 a number of people, so, it was, you know, it attracted

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1 a lot of attention of the press, and I think it was at

2 least covered in the French press at that time. Because

3 I was, really, the first Russian businessman who were

4 not allowed to have an extradition from France, because

5 France is quite — quite open country, let’s put it this

6 way, and probably you heard that Ablyazov been allowed

7 for extradition, and Kuznetsov, and quite a number of

8 big names. So I was really the first businessman who

9 was not allowed to be extradited, after one year, a bit

10 more than one year of first proceedings and, as I said,

11 they started the second proceedings a few days after,

12 two days after, and it was —

13 MR LORD: Dr Arkhangelsky, sorry, can I ask my —

14 A. — lasting for two — for half a year, for eight months

15 more, and then the second judgment, three judges, they

16 written that Russia never, ever should ask for so stupid

17 enquiries in respect to myself. So it was written in

18 the judgment, so we enclosed this judgment in these

19 proceedings.

20 So, really, judges told that it was really boring to

21 see these stupid things like illegal adoption.

22 Q. Dr Arkhangelsky, you have also alleged, I think, that

23 the Bank of St Petersburg has sought to influence

24 Russian courts, haven’t you?

25 A. Absolutely, yes.

1 get away, but on this point, if you wish to add to your

2 answer that you were giving, that is to say that for the

3 first half you were winning and then some subsequent

4 point you were not winning.

5 A. Yes.

6 MR JUSTICE HILDYARD: What do you want?

7 A. In the very beginning I was winning, and the only reason

8 for that, I think that the Bank of St Petersburg, they

9 were feeling themselves so strong, the same time they

10 started all these extradition proceedings and criminal

11 case against me, so I think they were taking it too easy

12 and they were thinking that they don’t even need to

13 intervene in the courts and they would win anyway.

14 So when they understood that I started to win, so

15 they just put the pressure on the third level of

16 the court and I lost everything which I obtained.

17 So I think it is a question of their internal

18 strategy, which they were not applying all the

19 possibilities they had in the beginning —

20 MR JUSTICE HILDYARD: That’s supposition on your part, but

21 you have no evidence to support that, have you?

22 A. The evidence is that on the first and the second level,

23 the system in Russia is that you have a president of

24 the court and you have, whatever, 50 judges. So

25 normally the president of the court take the most

41 43

1 Q. And you said in evidence earlier in your

2 cross-examination that for a time you were winning in

3 the courts in Russia; do you remember saying that?

4 A. Yes. First half a year of the struggle, I think

5 Bank of St Petersburg was so, so —

6 Q. Sorry, Dr Arkhangelsky, I’m not going to finish my

7 questions by 1.00 or 1.30 if you don’t let me ask the

8 questions, I am afraid; if you give a long answer.

9 A. Okay.

10 Q. Sorry. In view of the fact —

11 MR JUSTICE HILDYARD: You did ask him, Mr Lord, whether, for

12 a time, he was winning, and I think he was explaining

13 that for the first bit he was. But you want to cut him

14 off, do you?

15 MR LORD: No, I don’t want to cut him off, but I asked

16 whether he said he was winning.

17 MR JUSTICE HILDYARD: Yes.

18 MR LORD: The answer was he had said that, then I was going

19 to ask a follow-up question.

20 Dr Arkhangelsky, please give the answer you wanted

21 to give.

22 A. Sorry?

23 MR JUSTICE HILDYARD: Do you wish to — you were going to

24 say more. Mr Lord cut you off. I am anxious that you

25 should not take too long in your answers, lest we never

1 important and influential cases, and so it’s — if

2 decision done by the president of the court, it means

3 that, most probably, so it’s well considered and it

4 would not be overturned in the next and next level.

5 So on the first level, it was the president of

6 the first level who made the decision on my case in my

7 favour. On the second level, it was a president of

8 the court who made a decision in my favour, and normally

9 practice in Russia that if first and the second level

10 make the same decision, the third level — again, it was

11 done by the president of the third level — third level

12 would never, ever turn it vice versa. Normally practice

13 that it would be returned back to the first level for

14 the full initial consideration.

15 But what happened in my case, that the third level

16 president, he turned and make a decision final, which is

17 unusual.

18 Normally, based on the Russian proceedings,

19 presidents of the second level and the third level,

20 I mean presidents of the court, they have to be

21 unemployed or, let’s say, reduced position and so on, so

22 my evidence, that what we got — I think it’s in eighth

23 witness statement — so Matvienko, she go to the third

24 level of the court president —

25 MR JUSTICE HILDYARD: You say she influenced the third level

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1 president. Okay.

2 A. And she has this influence because it’s her who take

3 part in appointment of the presidents of the court,

4 because it’s her official position on that.

5 MR LORD: Do you have any actual evidence of what you just

6 said, apart from your supposition? Do you have any

7 actual evidence?

8 A. That’s my lawyers told me like this, who been

9 participating in this. And the actual evidence what

10 I been told by my lawyers, that on the third level of

11 the court, it was a normal hearing, and my lawyers, they

12 were absolutely aware that we would win —

13 MR JUSTICE HILDYARD: Right, well it was a big surprise, but

14 it is supposition from the facts. The only fact you can

15 tell me is that you won at two levels and then, very

16 surprisingly, you say, those decisions were reversed at

17 the third level, and instead of redirecting it for

18 factual enquiry at the first level —

19 A. Absolutely, that would be normal practice, yes.

20 MR JUSTICE HILDYARD: — the third level made its decision

21 and you invite inferences from that.

22 A. Yes, yes, it’s 99 per cent of the cases would be like

23 this, so it had to be returned on the first level for

24 reconsideration.

25 MR LORD: Have you finished, Dr Arkhangelsky?

1 Q. 159(1). You give evidence about Mr Savelyev.

2 Dr Arkhangelsky, I just want to be clear, first,

3 when you say these raids happened. It appears from

4 paragraph 65 on {C1/1/17} that you allege that the raids

5 started in 2006?

6 A. Yes.

7 Q. And continued until mid-2007?

8 A. Yes.

9 Q. And that you say there were ten such raids over that

10 period?

11 A. Yes.

12 Q. You are not suggesting, are you, Dr Arkhangelsky, that

13 Bank of St Petersburg had anything to do with those

14 raids? You don’t say that, I don’t think, in your

15 evidence?

16 A. No. No, I don’t say this.

17 Q. Thank you.

18 A. No, I say that because of Mr Savelyev, he really saved

19 the business of the companies at that time, while giving

20 an order to Piotrovsky, who was his in-house policeman,

21 to stop the raids; and actually they stopped immediately

22 after Savelyev called Piotrovsky in my presence in his

23 office.

24 Q. And I think you say — if you could be shown your BVI

25 witness statement, {M1/20/55}, please, paragraph 168 for

45

1 A. Yes, thanks.

2 Q. Completely?

3 A. Yes.

4 Q. Doesn’t the fact that you were, in your terms, «winning»

5 in the Russian courts for some time suggest that the

6 court process was working out in the ordinary way in

7 Russia?

8 A. I hoped so. I’ve been naive.

9 Q. And I suggest that you have no basis for alleging that

10 the court process was corrupted by

11 Bank of St Petersburg.

12 A. Not on the first and the second level for sure, and

13 I don’t know what’s happened on the third level.

14 Q. Can I ask you about your evidence of police raids,

15 please.

16 A. Yes.

17 Q. It’s your witness statement, {C1/1/17} {C1/1/18},

18 paragraphs 64 to 68 for the transcript. If you could

19 just refresh your memory, Dr Arkhangelsky, by reading

20 those paragraphs, please, to yourself.

21 A. Yes. (Pause)

22 Yes.

23 Q. And you give some more evidence at {C1/1/41},

24 paragraph 159(1)?

25 A. Which paragraph?

47

1 the transcript. You give some evidence in this

2 affidavit about these police raids.

3 A. Yes. Which paragraph you want me to read, or just …?

4 MR JUSTICE HILDYARD: Could you give me a reference? I’m so

5 sorry.

6 MR LORD: Sorry, my Lord, it is {M1/20/55}.

7 Can you see, Dr Arkhangelsky, it starts with the

8 heading, «Raids on the group» do you see that?

9 A. Yes.

10 Q. And you see in paragraph 168 you describe the raids.

11 Then if you go over to the next page, please,

12 {M1/20/56}.

13 A. Yes.

14 Q. You can see in paragraph 173, you say:

15 «There were no further raids on the group companies

16 until mid-June 2009.»

17 Do you see that?

18 A. Yes, yes, since Savelyev called to Piotrovsky, life

19 really changed, so we’ve been in silence and been quite

20 happy.

21 What is important here, what just —

22 Q. Sorry, Dr Arkhangelsky, can I put the question?

23 Can I suggest to you that it is untrue for you to

24 say that Mr Savelyev intervened in relation to

25 General Piotrovsky, as you alleged; that that’s false?

46 48
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1 A. Well, he called to Piotrovsky in my presence and since 1 and for each raid she have to be paid for sure, and
2 that time everything stopped. 2 I think they decided to save some money, just they need
3 And for your Lordship’s information, I don’t know 3 some savings to employ (inaudible) at some stage.
4 how far — how much you know about the Russian 4 Q. I suggest, Dr Arkhangelsky, that those are — you are
5 situation, that around the beginning or middle of 2006, 5 telling lies now.
6 OMG group became very much a public company, so it was 6 A. Absolutely not. It’s well aware that Levitskaya is
7 a lot of articles about our development, about the 7 reporting directing to Malysheva and it’s you who
8 terminals we are opening and so on. 8 disclosed this in these proceedings.
9 So normally Russian companies — private Russian 9 Q. Could we please see {D6/141/1}.
10 companies don’t like any publicity, because as soon as 10 A. Sorry, your Lordship, may we have a short break, please?
11 you have publicity, then suddenly you have a lot of 11 MR JUSTICE HILDYARD: Yes. Will you give me one sec?
12 hungry people coming, like police officers, tax 12 When are we having the videos, Mr Lord?
13 authorities, fire brigades and so on, suddenly trying to 13 MR LORD: I wonder, could I finish my cross-examination, or
14 check if your safety for fire is working and so on. 14 endeavour to —
15 So it means that as soon as we became public, we 15 MR JUSTICE HILDYARD: Yes, but that’s what you would like to
16 started to — we got a lot of interest, especially from 16 do, is it?
17 the police, because they’ve been quite an important 17 MR LORD: I’d like to, and then have the afternoon for other
18 party in raiding and in corruption schemes. But they 18 things.
19 had their own way of operations. So first they have to 19 A. Because we came to this issue of the video because they
20 harass people, and … 20 had some questions in respect how it was looking and
21 MR JUSTICE HILDYARD: This is rather general stuff — 21 what’s been modernised and so on, so — it came exactly
22 A. Yes, sorry. 22 from their part.
23 MR JUSTICE HILDYARD: — Dr Arkhangelsky. 23 MR LORD: I need to put a series of points to put my case,
24 MR LORD: Dr Arkhangelsky, you don’t allege, do you, that 24 my Lord. I will do it as fast as I can. I’m trying to
25 any of these police raids were in any way instigated by 25 go fast. I have pared the notes down.
49 51

1 Bank of St Petersburg?

2 A. No. By 2007, no, I don’t think so.

3 Q. And you don’t allege, do you, that even the ones that

4 started again in mid-2009 were instigated by

5 Bank of St Petersburg?

6 A. That was, and it was on the public record that

7 Levitskaya told to the journalists that she been

8 employed by Matvienko and the Bank of St Petersburg. So

9 she was, you know, so strong and aggressive, so she was

10 disseminating this information, or she was not caring

11 what she’s saying.

12 Q. I suggest, Dr Arkhangelsky, that that’s not true, what

13 you have said; you have made that up?

14 A. Absolutely not, so Levitskaya is completely employed by

15 the Bank and manipulated by the Bank.

16 Q. And, on your case, the Bank’s conspiracy started

17 in December 2008, didn’t it?

18 A. Yes, I think so. Yes.

19 Q. And can you explain, if your evidence is true, why there

20 were no raids between December 2008 and mid-June 2009?

21 A. Because they hadn’t — they didn’t need that. I think

22 the Bank was aware that they got assets and everything,

23 so they didn’t need to harass me at that time; there was

24 no reason for that.

25 I think Levitskaya is a quite expensive policeman

1 MR JUSTICE HILDYARD: That’s fine.

2 MR LORD: And I would ask your Lordship to allow me to do

3 so, please, as best I can today, as quickly as I can

4 today.

5 MR JUSTICE HILDYARD: As quickly, consistently with giving

6 the witness a fair go, yes.

7 MR LORD: Yes, of course, and I am happy to have a break if

8 your Lordship thinks that’s appropriate.

9 MR JUSTICE HILDYARD: Yes, but you will not wish to

10 cross-examine Dr Arkhangelsky on the videos; am I right

11 in thinking that?

12 MR LORD: My Lord, it appears to be giving evidence in-chief

13 during cross-examination.

14 MR JUSTICE HILDYARD: Yes.

15 MR LORD: That appears to be what’s happening. I reserve my

16 position in that respect. This could have been done —

17 I won’t make submissions now, because time is short, but

18 there are a lot of submissions to make on these matters

19 and I will make them at the right time.

20 MR JUSTICE HILDYARD: I’m just thinking of timing. It is

21 not impossible — I don’t know whether you have seen

22 these videos or not. It’s not impossible that you will

23 have some questions yourself on it, is it?

24 MR LORD: It depends. It depends what’s made of the videos.

25 I don’t know.

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1 A. Your Lordship, maybe what I can suggest, we may consider

2 the video like a bit relaxed, 15 minutes —

3 MR JUSTICE HILDYARD: I’m not going to let you dictate,

4 I think, to Mr Lord the way he does it. But it may

5 be — what I’m partly asking is whether you have had

6 a chance to see them, or whether you are going to be

7 flying blind, if you see what I mean?

8 MR LORD: I have had a look at some of at least one of

9 the videos; I don’t know what’s going to be made of it.

10 The video is the video.

11 MR JUSTICE HILDYARD: Yes.

12 MR LORD: I don’t know what’s going to be said to be taken

13 out of it. I have a lot to cover, and I am afraid

14 I haven’t spent time looking at lengthy videos to try

15 and anticipate what might arise.

16 A. No, it’s not a lengthy video. One is four minutes;

17 another is something like seven minutes.

18 MR JUSTICE HILDYARD: I will leave it to you. I was really

19 trying to work out timing and whether it was fair or not

20 for me to have a look at the videos on my own or

21 anything like that. But I will let you guide me on

22 that.

23 We will have a short ten minutes.

24 (10.21 am)

25 (A short break)

1 Q. Doesn’t it follow from those entries that you continued

2 to have a good relationship with Russian Government

3 bodies, or officials, well into 2009?

4 A. What I should say — I don’t like how you put it there,

5 but what I should say, that I been the head and the

6 owner of one of the biggest companies in the region, and

7 normally if any official governmental delegations go

8 there, normally one aeroplane of 100, 150 businessmen

9 accompany them. So every time we paid several thousand

10 euros as a kind of participation fee, normally it’s been

11 organised by the chamber of commerce, and we as

12 businessmen, local businessmen, we were participating in

13 different events, yes. We’ve been — I’ve been eager to

14 pay to the chamber of commerce for organising these

15 trips and I’ve been participating in that, because it

16 was quite an important event for discussions with the

17 friendly companies and bureaucrats.

18 Q. And it looks, from that paragraph, as if the government

19 delegations were St Petersburg — official government

20 delegations of St Petersburg? Is that right?

21 A. Not only. For example, Singapore — or

22 Russian-Singapore Forum, it’s a federal organisation.

23 Chicago is what we discussed yesterday. Shanghai, at

24 that time it was a national delegation, and that was

25 organised by the National Chamber of Commerce. So it

53 55

1 (10.31 am)

2 MR LORD: Can we have {D6/141/1}, please. Dr Arkhangelsky,

3 this is a copy of a CV produced by you.

4 A. Yes.

5 Q. And you can see on that page, about halfway down, it

6 says:

7 «Since September 2007, Dr Arkhangelsky has been

8 a member of the Transport Council attached to

9 the Government of St Petersburg…»

10 A. Yes.

11 Q. And that’s presumably right, is it; that’s correct?

12 A. Yes, all information in my CV is correct.

13 Q. And in the next paragraph, you say this:

14 «He often participates in official governmental

15 delegations of St Petersburg with the purpose of

16 studying the European experience in developing port

17 infrastructures and international business.»

18 A. Yes.

19 Q. And you can see you then set out some delegations you

20 have been on; can you see that?

21 A. Yes.

22 Q. Including Japan in April 2008, Finland

23 in April 2009, September 2009; can you see that?

24 A. Yes, sure, sure. It’s my CV, everything is correct

25 there and it covers my active business life.

1 was different ventures.

2 For example, visit to Germany, it was done with the

3 Russian Patriarch, Head of the Russian Church, so he was

4 joining us and we were invested, or let’s say, made the

5 charity on Hamburg Russian Orthodox Church, and it was

6 the opening of the church in Hamburg and we’ve been in

7 the team of the Russian Patriarch.

8 Q. Dr Arkhangelsky, you have given evidence that the Bank

9 of St Petersburg conspired against you and your

10 companies from December 2008, and they did so with the

11 help of the St Petersburg and then the Russian

12 government and authorities, haven’t you?

13 A. Yes.

14 Q. And I’m only asking you to consider whether that really

15 is truthful, given the participation you obviously

16 enjoyed —

17 A. Yes.

18 Q. — well into 2009, on what you described as official

19 governmental delegations of St Petersburg?

20 A. Yes, what I just said, that I was in the team of

21 businessmen accompanying any official events, and we’ve

22 been paying to the different travel agencies or chamber

23 of commerce for organising us, so that’s …

24 MR JUSTICE HILDYARD: My understanding of the evidence you

25 have given, in case this shortens it: you do not assert

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1 that every element in the Russian Federation is corrupt,

2 nor do you assert that every element in

3 the St Petersburg Government is corrupt; but you say

4 that there are elements within St Petersburg, which you

5 have called the St Petersburg mafia, including that

6 Mrs Matvienko and the control she exercises are, or in

7 your estimation are, corrupt, and that’s the end of it,

8 isn’t it?

9 A. Yes, absolutely. You always have normal people, and

10 sometimes you may have a beer with the person — he may

11 be corrupted, but it doesn’t mean if you take a beer you

12 are any how involved in any corruptions.

13 MR JUSTICE HILDYARD: That may not accelerate things but, in

14 case I have got the wrong end of the stick, that is my

15 appreciation of the evidence. That’s fine.

16 MR LORD: Dr Arkhangelsky, I am just asking you to consider,

17 if you are right that what his Lordship described as

18 the, in your words, St Petersburg mafia, were operating

19 against you — political mafia — from December 2008,

20 how you explain the fact that they don’t appear to have

21 frozen you out from official governmental delegations of

22 St Petersburg?

23 A. What for? I just have not been a member or part of

24 the official delegation; I’ve been a member of business

25 delegation in connection to official visits. So

1 accidentally from EBRD at, I think it was {D110/1570/1}.

2 I didn’t know whether that was the letter to which

3 Dr Arkhangelsky had previously made reference.

4 A. Yes, yes, yes, yes, yes. It was addressed to

5 Mr Novikov, I think; yes? Yes.

6 MR LORD: I think I took him to it, in evidence, I believe.

7 MR JUSTICE HILDYARD: Did you? Well, that just shows that

8 I …

9 A. Just referring to that letter, what is important for

10 EBRD is that it’s an open organisation and you can

11 follow and trace all the projects on their website, so

12 the stage and so-and-so; that’s why I said that it’s

13 enough to see the website.

14 MR LORD: I will make submissions on that in closing.

15 Can you be shown {D117/1746/1}, please. It is

16 a letter from your disclosure.

17 A. Yes, and the Russian version, yes.

18 Q. And the Russian, {D117/1746/2}.

19 It’s a letter, as you can see, from Mr Fyodorov.

20 That’s right, isn’t it; Mr Fyodorov to

21 Mr Savelyev, April 2009?

22 A. Yes.

23 Q. And Mr Fyodorov, can you see, is writing in support,

24 isn’t he, of the OMG group of companies?

25 A. Yes.

57 59

1 I never, ever been part of any official delegation

2 because I am not a bureaucrat. I am not employed by the

3 State.

4 So we were participating, for example, in Finland,

5 what you are referring to, for example, April 2009. We,

6 as businessmen, we were participating in some events

7 where the Government of Finland and Russia were signing

8 some contracts or so-and-so. I never, ever been a part

9 of official delegations, it’s not — I could not be like

10 this, it’s not allowed.

11 MR LORD: My Lord, it is a matter that your Lordship may

12 well have to decide. I think I have probed the point.

13 I think I have taken the witness to a number of letters.

14 I shall potentially be making closing submissions based

15 upon the other letters in that schedule, but I am not

16 sure, in the light of your Lordship’s comment, that

17 I need to take this witness through them. But I do rely

18 upon those letters which were disclosed, I think, by the

19 defendants, in terms of their contents. They speak for

20 themselves, but I won’t put them any further to this

21 witness.

22 MR JUSTICE HILDYARD: I did read each of those letters.

23 Only about two of them were actually in my bundles, so

24 I will need to see them.

25 In the course of my researches, I found a letter

1 Q. And it encloses a copy of a letter, doesn’t it, of

2 27 March 2009?

3 A. Yes, he decided to save time on his writing, so he just

4 attached my letter not to tell more.

5 Q. Yes. And what, Dr Arkhangelsky, you were doing, and I’m

6 not suggesting it is improper, but what you felt able to

7 do in April 2009 was to ask Mr Fyodorov to write on your

8 behalf to seek to persuade Bank of St Petersburg to do

9 various things in relation to the OMG group of

10 companies?

11 A. Yes.

12 Q. Can I put to you, Dr Arkhangelsky, that without

13 political support, your development plans for Western

14 Terminal, Onega, and Vyborg, could never have succeeded?

15 A. Absolutely not.

16 Q. Could you be shown {D142/2385.2/7}, please, which is

17 a record of Mr Pasko’s interview with Ms Malysheva,

18 which I think you have disclosed and you rely upon?

19 A. Yes, and just for your Lordship, we have an audio of

20 this, so it’s not just hearsaying; it’s just translation

21 from the audio recording which Mr Pasko done.

22 Q. Could you look, please —

23 A. It’s a very exciting interview; I don’t know if you had

24 a chance to read that.

25 Q. Can you look, please, five entries down, Mr Pasko says

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1 this:

2 «When Svetlana Medvedeva went to Nice, he was at the

3 reception.»

4 A. Yes.

5 Q. Can you see, that Dr Arkhangelsky?

6 A. Yes.

7 Q. Is that right that’s a reference to the former President

8 of Russia, President Medvedev’s wife?

9 A. Yes, it was an opening of the Russian culture days in

10 Cannes, in Palais des Festival in the major and the

11 biggest place in Cannes, and I bought a ticket for

12 opening ceremony and Mrs Medvedev, wife of

13 the ex-Russian President, she was opening this, yes, for

14 sure.

15 Q. When was that, please?

16 A. Among 50,000 other people.

17 Q. When was it, please? When was it?

18 A. I don’t remember exactly. I assume end of August 2010,

19 I think.

20 Q. Because Mr Pasko seems to be mentioning this to

21 Ms Malysheva as if it is of some importance, as if —

22 A. I don’t know.

23 Q. Did you actually meet the former President’s wife when

24 she was at this reception?

25 A. It’s a big ceremony and she was kind of head of

1 Q. And, Dr Arkhangelsky, is really what happened this: that

2 when several of your OMG businesses defaulted in a very

3 serious way in 2009, you lost goodwill and support

4 amongst the establishment as a result?

5 A. Absolutely not.

6 Q. Can I ask you, please, about your allegation of

7 corporate raiding, please? Could you go in your witness

8 statement at {C1/1/7}. At paragraph 20, you can see

9 what you say there. I put to you, Dr Arkhangelsky, that

10 there was no corporate raid by Bank of St Petersburg, as

11 you allege.

12 A. It was a corporate raid.

13 Q. And there was no attempt by Bank of St Petersburg to

14 steal Western Terminal or Scan businesses from you.

15 A. It was, and they in fact stolen that.

16 Q. And that is an invention by you to advance your claims

17 against the Bank, isn’t it?

18 A. Absolutely not.

19 Q. And the assets of Western Terminal and Scan were already

20 largely pledged, weren’t they?

21 A. They were pledged towards Bank of St Petersburg, yes,

22 but not largely: in much lower extent than the real

23 value of them.

24 Q. And there was no real residual value in those

25 businesses?

61

1 the fund, so she was just opening that for five minutes

2 from the stage, and then disappeared. So definitely

3 I don’t have any personal connections to her and I have

4 not seen her.

5 Q. Dr Arkhangelsky —

6 A. I mean, I have not had a chance to speak to her for

7 sure.

8 Q. Dr Arkhangelsky, I suggest that, first, a number of OMG

9 companies went into insolvency owing

10 Bank of St Petersburg and other Russian banks a very

11 significant sum of money, didn’t they?

12 A. No.

13 Q. Can I suggest, secondly, it would be unsurprising, in

14 those circumstances, if you became discredited as

15 a result of having played a role in those insolvencies?

16 A. Absolutely not. V-Bank, who was one of the major bank,

17 and by the way, bigger bank than the

18 Bank of St Petersburg, they were continuing supporting

19 me for next three years after the time I think you are

20 speaking about.

21 Q. And it would be unsurprising, wouldn’t it, if political

22 support that you had enjoyed when you were on the way

23 up, drained away to a significant extent once your

24 businesses began to collapse?

25 A. I don’t think so.

63

1 A. It was enormous, huge value in these businesses and this

2 has been confirmed by the valuation reports done by the

3 Bank in the time of financing, as well as by Ludmilla

4 Simonova and others during these proceedings.

5 Q. And those companies, Western Terminal and

6 Scandinavia Insurance, were not successes, were they?

7 They were not commercial successes?

8 A. They were very commercially successful and one of

9 the leading in the Russian and international markets.

10 Q. And they were not companies that would even have been

11 worth raiding, were they?

12 A. They were really wealthy and well established companies;

13 they had a good reputation abroad and in Russian, and

14 they were the target of the raid by

15 Bank of St Petersburg.

16 Q. Can you go to {C1/1/53}, paragraph 208, please.

17 A. Yes.

18 Q. Where you give some evidence about the Russian Auction

19 House; can you see that?

20 A. Yes.

21 Q. Do you allege that the Russian Auction House is in on

22 this conspiracy?

23 A. Yes, of course, yes, because Mr Stepanenko,

24 Andrei Stepanenko, he was employed by the State, so he

25 was at the same time working in the City of

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1 St Petersburg government property fund, as well as he

2 was running his own company called Russian Auction

3 House.

4 Q. Could you be shown {D10/217.87/1}, please.

5 A. Yes.

6 Q. This is something on the website of Sberbank, you can

7 see that from the bottom of the page?

8 A. Yes.

9 Q. Sberbank, as we established earlier in your evidence,

10 was the Russian savings bank, wasn’t it?

11 A. It is, yes, still; still is.

12 Q. If you could just read this entry to yourself, please,

13 just quickly. {D10/217.87/2}

14 A. Yes.

15 Q. The Russian Auction House was established in some sort

16 of partnership with Sberbank, wasn’t it?

17 A. I don’t know. If it’s written there, maybe.

18 Q. I put to you that it was.

19 A. Okay.

20 Q. And that happened in 2009, I suggest to you.

21 A. Maybe.

22 Q. And that the sale, the sale by the Russian Auction House

23 in the autumn of 2009 of various Scan assets was one of

24 the first auctions which Russian Auction House had

25 actually put on.

1 some other assets that finally came in the hands of

2 Mr Traber, which is widely discussed in the press. So

3 I assume that Mr Traber had enormous influence on

4 Mr Gref, and so he couldn’t not to meet me, and he

5 couldn’t not to be polite to me, that’s it.

6 And the same relates to the meeting which I had with

7 Mr Gref in September —

8 Q. I’m not suggesting it’s otherwise, Dr Arkhangelsky; I’m

9 just —

10 A. No, I’m just telling you the story.

11 Q. I understand. I understand.

12 A. So I just had the meeting with him on two occasions in

13 respect to acquisition of Vyborg Petroleum Company.

14 Q. And we can see that Russian Auction House was involved

15 in some sort of partnership with Sberbank, wasn’t it?

16 A. Most probably, yes. As far as I understand, quite

17 a number of other banks are involved there, also, at

18 least at a later stage.

19 Q. Sberbank seems to have probably owned some shares in

20 Russian Auction House?

21 A. I don’t know the story.

22 Q. If you look at this website entry, it says that:

23 {D10/217.87/1}

24 «Sberbank of Russia cooperates with [Russian Auction

25 House] on the sale of pledged property used as loan

65 67

1 A. Yes, that might be, and what I said, that Mr Stepanenko,

2 he was the same time employed by the government and same

3 time was employed in, or was running the so-called

4 independent company. So absolutely sure at least you

5 may notice easily conflict of interest, and

6 Andrei Stepanenko, head of Russian Auction House, he had

7 a lot of direct connections and he was under the

8 influence of Matvienko and Savelyev for sure.

9 Q. And you met with Mr Gref in July 2009 in Moscow.

10 Mr Gref was the chairman of Sberbank, wasn’t he?

11 A. Yes.

12 Q. And you had no reason to think that he bore any

13 animosity or ill will towards you?

14 A. Sorry, can you put it in different …?

15 Q. You had no reason to think in July 2009, when you met

16 Mr Gref, that he bore you any malice or —

17 A. Sorry, «bore», and «malice» …?

18 Q. Sorry, that Mr Gref was against you in any way?

19 A. Absolutely not. As I explained you yesterday, I had

20 a meeting with Mr Gref only because Mr Traber, he

21 organised this meeting —

22 Q. Yes?

23 A. — and I think Mr Gref, he was the head of privatisation

24 in St Petersburg, and Mr Gref taken a very important

25 part in the privatisation of port of St Petersburg and

1 security and for the Bank’s non-core assets.»

2 Can you see that?

3 A. Yes, Andrei Stepanenko and Gref, they are very good

4 friends and they are working together in the City

5 Government of St Petersburg so they know each other very

6 well, yes, and it’s kind of a joint venture, yes

7 I think.

8 Q. And I put to you, Dr Arkhangelsky, that it is most

9 unlikely in those circumstances that the Russian Auction

10 House would have been involved in any conspiracy against

11 OMG in and about the auction in 2009?

12 A. Absolutely not, and I’ve been told by Mr Stepanenko,

13 whom I know from before, he said that he had to do this

14 because he been told to do this. So he couldn’t resist

15 to Matvienko power.

16 Q. And you have no proper basis to challenge any of these

17 auctions in this case, have you? No basis to impugn the

18 auction process that took place in relation to the Scan

19 asset?

20 A. No, we discussed that a lot in our pleadings and in our

21 evidences.

22 Q. Can I ask you, please, about the Lair valuations? The

23 Lair valuations formed an integral part of your

24 business, didn’t they?

25 A. Sorry?

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1 Q. The Lair valuations were an important part of your and

2 OMG business. They were an important part of your

3 business?

4 A. So they were the valuation company which been suggested

5 to us by the Bank of St Petersburg, and this — leading

6 in the market valuation company, and we been working

7 with them for several years.

8 Q. You used the Lair valuations, didn’t you, in order to

9 borrow further monies from banks?

10 A. That was an enquiry of most of the banks. They, most of

11 them, accepted Lair as a company, so they were

12 considering, and they are still considering, Lair as one

13 of the most reliable companies in the market, and not

14 only banks: Lair works with Gazprom, Lukoil and

15 the major energy companies in Russia, so with all the

16 major Russian corporations.

17 Q. And OMG company —

18 A. And that was the biggest in St Petersburg.

19 Q. OMG companies regularly would borrow money to buy

20 an asset, then it would be valued upwards by, for

21 example, Lair, and then you would use that upwards

22 valuation to try to get more borrowing?

23 A. Sorry? I … normally when we were buying assets, we

24 were employing Lair to make a valuation. Based on the

25 standard banking requirements, it’s a must, every half

1 value in the same months that it had been bought for

2 $40 million; can you see?

3 A. Yes.

4 Q. And your answer was:

5 «Answer: Reputation and due diligence…»

6 Can you see that?

7 A. Yes.

8 Q. And at {Day13/173:6} his Lordship formulated what he

9 thought your evidence was; his Lordship formulated what

10 he understood to be your evidence on this point; can you

11 see that?

12 Can I suggest to you, Dr Arkhangelsky, that you have

13 given evidence that a major explanation for the Lair

14 upwards valuations was your reputation? Do you agree?

15 A. Reputation of me, yes, and reputation of

16 the understanding of the project, yes.

17 Q. And I am suggesting to you that that would not be

18 a sufficient basis for these big increases in a value of

19 an asset.

20 A. No. But it’s — it’s a really big difference, so one is

21 the price you discuss with the seller, so the seller

22 wanted to sell it and that’s one issue, and nobody

23 wanted to buy because of their reputation and connected

24 risks, and when I bought it and I made the due

25 diligence, so it was absolutely a different story.

69

1 a year, to make a re-evaluation of the assets and to

2 bring these to the banks. And it was an agreement,

3 especially with the Bank of St Petersburg, that while we

4 are doing the construction and development, we make

5 a re-evaluation and then they would issue more funds for

6 the further development. That’s true.

7 Q. And an example of that is the Western Terminal

8 valuation: you bought Western Terminal, or rather

9 Western Terminal was bought, wasn’t it, by OMGP

10 in May 2007 for US $40 million?

11 A. Yes.

12 Q. And we saw, I think, a Lair valuation, also in May 2007,

13 which put the value at some US$166 million?

14 A. Yes, they were independent valuation consultants.

15 Q. And I asked you about it, and for your Lordship’s note,

16 it is {D21/415/2}, and there is also an August

17 valuation, which I don’t need to take the witness to, at

18 {D64/1002/1} and {D64/1003/1}.

19 I asked you about those Lair valuations of Western

20 Terminal earlier in your evidence?

21 A. Yes.

22 Q. And I think you gave answers on {Day13/172:5}, if we

23 could have that on the screen, please.

24 At line 5 I asked you about how you explain the fact

25 that Lair valued Western Terminal at four times the

71

1 Q. Factors such as reputation would relate to the current

2 owner of an asset, rather than to the asset itself,

3 wouldn’t it?

4 A. No, the fact that OMG group bought this and went through

5 the due diligence meant that it’s absolutely different

6 asset, so it’s not an asset which was belonging to

7 the «grey» market, let’s say, owners and so on, and

8 nobody was clear what about balance sheet and results

9 and so on.

10 So when OMG bought it, so it’s brought additional

11 value for sure.

12 Q. Because if the owner changes, then the reputation goes

13 with it, doesn’t it?

14 A. Absolutely not, because it’s a question of the due

15 diligence and balance sheet of the company.

16 Q. And if you are right, a value placed upon the reputation

17 of an owner would be liable to fall if the owner’s

18 reputation falls, wouldn’t it?

19 A. No, absolutely. Reputation means that it’s not my

20 personal reputation but the reputation that we made —

21 we went through all the due diligence, we finalised the

22 transaction, and by doing this, the third party would

23 assume that it’s a good asset and a good balance sheet

24 and a reliable asset having a prospect for development.

25 Q. And I suggest to you that the value of that Lair

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February 24, 2016 Day 16 — Redacted

1 valuation, of the Western Terminal in 2007, was 1 criticism?
2 inflated; it was higher than was appropriate? 2 MR LORD: No, my Lord, I don’t make any case. It is
3 A. Absolutely not, and that was well accepted. The Lair 3 a matter for your Lordship to decide if that is
4 valuation report was analysed by at least two banks, 4 a relevant point. I am neutral on that. I don’t
5 like V-Bank and Bank of St Petersburg, and they accepted 5 advance a positive case, but nor do I make any
6 that, and they thought that it’s even lower than it 6 admissions in that regard.
7 should be after some development. 7 A. It’s a bit strange because this company, we been pressed
8 Q. Would you accept, Dr Arkhangelsky, that the payments to 8 by the Bank to employ them and they were the real — the
9 officials that you referred to last week would, if 9 biggest in the market, and we haven’t had any other, by
10 discovered, damage the reputation of any assets that 10 the way, other choices, because — you know, the major
11 they related to? 11 advantage of Lair for us was that they were so big that
12 A. Absolutely not. In Russia it’s a normal thing. It 12 they were accepted by all the banks. So in case we
13 would — I should say, in Russia, if it’s known, it 13 wanted to get on the same asset loan from another bank,
14 would just increase the reputation. 14 we would just bring the valuation report of Lair and
15 Q. And I suggest to you that if it had been known that any 15 other bank would accept that. So that —
16 of Western Terminal or Scandinavia Insurance or Onega, 16 MR JUSTICE HILDYARD: I think what Mr Lord is saying, and he
17 that if any of those businesses, if any of those were 17 will correct me if I am wrong, is he is not advancing
18 known to have been involved in any bribery or 18 a positive case or evidence to establish an improper
19 corruption, that would have seriously damaged their 19 connection or influence between you; that it is a matter
20 value. 20 for me to determine from the discrepancy in
21 A. Absolutely not. In Russia, your Lordship, you know that 21 the valuation whether the explanation is that. That’s
22 any connection to the government would just bring 22 what I think he is saying.
23 additional value to everybody. 23 MR LORD: Exactly, my Lord. I am in that position, yes.
24 Q. It is a matter his Lordship may have to decide, 24 MR JUSTICE HILDYARD: Yes, I just want to capture your case.
25 Dr Arkhangelsky; I have put my point to you. 25 MR LORD: I understand. I understand.
73 75

1 A. No, no, I’m just tyring to give some insight.

2 Q. I understand.

3 I’m going to ask you now about Onega, please —

4 MR JUSTICE HILDYARD: Mr Lord, can I just be clear in my

5 mind. Looking at your skeleton, do you say, or is it

6 part of the Bank’s case, that there was some improper

7 connection or influence between Dr Arkhangelsky or any

8 of his companies and Lair; or do you accept that Lair

9 were an independent valuer, even if you contend that

10 their valuations were incorrect?

11 MR LORD: I don’t make any case on the independence or other

12 of Lair. I don’t advance any case in that respect.

13 I simply advance a case that their values are higher

14 than was appropriate.

15 MR JUSTICE HILDYARD: Your question as to whether the Lair

16 valuations were part of the business or assets of

17 Dr Arkhangelsky’s then companies gave me the impression

18 that in some way there was some suggestion that Lair

19 were in his pocket, or otherwise subject to improper

20 influence, but that is no part of the Bank’s case?

21 MR LORD: I am not advancing a case that there was any —

22 I am not relying upon any improper influence.

23 MR JUSTICE HILDYARD: Does it follow from that that I can

24 take it that Lair were, so far as the record goes,

25 independent, even if their valuations are the subject of

1 MR JUSTICE HILDYARD: Yes, thank you.

2 MR LORD: Your Lordship will have to consider the question

3 of the May 2007 valuations, for example.

4 MR JUSTICE HILDYARD: The sudden increases.

5 MR LORD: Your Lordship will, and in the context of all the

6 other evidence in this case and it will be a matter of

7 closing submissions, but I don’t make a positive case —

8 A. Your Lordship —

9 MR LORD: Your Lordship has summarised it exactly.

10 A. — it’s not an increase. So Lair made a report for

11 first time, how they thought and how they valued that.

12 So nobody had any other valuations by that time, and

13 making such a valuation was required for understanding

14 financing and potentials of this project, so it was kind

15 of a major concern, especially for V-Bank and

16 Bank of St Petersburg, so that’s — for that particular

17 purpose, we done that.

18 MR JUSTICE HILDYARD: I understand. Thank you.

19 MR LORD: Can I please ask you about the Onega Terminal,

20 please, and the Onega business. You describe that

21 business at {C1/1/10}.

22 If you could go on, please, you give some more

23 evidence about Onega at {C1/1/26}, paragraph 99.

24 A. It’s a very nice covered in the video, especially Onega.

25 MR JUSTICE HILDYARD: Sorry?

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1 A. We are coming to the business of Onega Terminal, and 1 cooperation with Nissan, Mazda, Mitsubishi, and so on,
2 it’s really well covered in the video I wanted you to 2 so with most — I think Renault, Peugeot — with most
3 see. 3 international car manufacturers.
4 MR JUSTICE HILDYARD: I see. Sorry, I didn’t hear you. 4 Q. Could you be shown {D64/1010/1}, which I think is
5 Yes. 5 an OMG document disclosed by you:
6 MR LORD: You can see in paragraph 99 you set out your plans 6 «Russian Shipping in the Baltic sea: A View from
7 for Onega Terminal: {C1/1/26} 7 St Petersburg.»
8 «… to develop it into a larger and more 8 A. Yes, I think it’s my presentation at one of the
9 sophisticated [roll-on/roll-off] and container cargo 9 conferences. We discussed that, I think, already.
10 transhipment facility.» 10 Q. We did. If you could be kind enough, please, to go to
11 A. Yes. 11 {D64/1010/11} you will see a slide entitled «Onega
12 Q. And you planned to expand the site; can you see that? 12 Terminal»?
13 A. Yes. 13 A. Yes.
14 Q. And then in 100 you set out the likely cost of that 14 Q. Can you see at the foot of that page it says:
15 development? 15 «Current capacity:
16 A. Yes. 16 «10,000 units per month.
17 Q. Which you estimate, I think, at just over US $1 billion; 17 «120,000 units per annum.»
18 is that right? 18 A. Yes.
19 A. Yes. 19 Q. Can you confirm to his Lordship that that was the
20 Q. Can I suggest, Dr Arkhangelsky, that neither you nor OMG 20 capacity of Onega Terminal as at September 2008?
21 had any prospect at all of raising $1 billion, or 21 A. That was the capacity in the middle of 2008 on the
22 anything like that sum, in order to develop Onega 22 territory which had been finished reconstruction by that
23 Terminal? 23 time. I think it was much bigger capacity already by
24 A. Absolutely not, we had a big discussion with Russian 24 the end of the year.
25 Development Bank and it was an ongoing process. 25 Q. And how much bigger was it?
77 79

1 Definitely we were not speaking that we raise $1 billion

2 overnight and at the same time, so it was many stages in

3 this business plan and it was a long-lasting project.

4 Q. And from what we’ve seen in relation to Western Terminal

5 and Vyborg Port, you were very unlikely to agree to pay

6 the necessary fees to banks or arrangers —

7 A. Absolutely not —

8 Q. Can I finish my question, please? To banks or arrangers

9 of finance, in order to raise the development finance

10 that you claim you would have done to develop Onega

11 Terminal?

12 A. Absolutely not, we had a successful project with EBRD

13 where we signed such contract and we were paying to

14 EBRD. So for a year and a half, it was a long-lasting

15 good cooperation with EBRD and we were approaching the

16 same with BNP Paribas. And KIT Finance didn’t require

17 such payment. The same relates to Russian Development

18 Bank, Vneshsconombank; they were not requiring any

19 monthly payments because their goal to develop local

20 infrastructure projects.

21 Q. And the upshot of that is that neither you nor OMG had

22 any real prospect of developing Onega, did you?

23 A. Absolutely not. You would see that it was the first in

24 Russia ever opened ro-ro terminal, and you would see on

25 the video how successfully it was operating. We had the

1 A. I don’t remember. It would be in the video.

2 Q. It’s right, isn’t it, Dr Arkhangelsky, that Onega, the

3 Onega Terminal, or rather the Onega Terminal bit that

4 OMG owned, did not have its own berth?

5 A. It did not have its own berthing operation, but we had

6 discussions with the local government about berth

7 number 94, and we had a running cooperation with

8 official port, and the target to develop neighbouring

9 territories was also to acquire additional berths.

10 Q. And the two berths used by Onega were owned by the Sea

11 Fish Port, weren’t they?

12 A. Yes, by that time, yes.

13 Q. And the fact that Onega did not own its own berth would

14 be a serious limit on the value of that business,

15 wouldn’t it?

16 A. Not really, because terminal is a different story, so it

17 has to be especially equipped and organised, and it is

18 also a question of goodwill and further development. As

19 I said we had a series of discussions on own berth

20 number 94, and while buying neighbours with whom we

21 signed preliminary contracts and made prepayments, so

22 that would be guaranteeing us berths.

23 Q. And Onega did not own its own land, but it leased its

24 land, didn’t it?

25 A. Some land been owned, some land been leased, leased for

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1 49 years, and your Lordship, in Russia, 49 years’ lease 1 they have a long-lasting cooperation — or owner.
2 means like ownership. 2 Q. I will check, but I don’t think, Dr Arkhangelsky, it was
3 Q. The fact that it didn’t own its own land, its own 3 put to that witness in those terms.
4 freehold land, was another serious limit on the value 4 A. Mr Stroilov was referring to Mr Soshnik, who is the
5 of — 5 owner and the shareholder and director of all these
6 A. Absolutely not. Absolutely not. 6 companies discussed, and she confirmed that they are
7 Q. Could we have, please, {I22/30/12}, please, which 7 having long-lasting cooperation with him.
8 I think is the latest pleading, I think, which 8 Q. It’s right, isn’t it, that Sea Fish Port owned the
9 Mr Stroilov has produced on your behalf, or served on 9 berths, didn’t they?
10 your behalf? 10 A. Rented the berths, yes, from the State, as far as
11 A. Yes. 11 I understood. But I’m not sure if the Sea Fish Port;
12 Q. Can you see that? 12 maybe it’s ROK Prichaly, I don’t know.
13 A. Yes. 13 Q. No, but one of those companies basically had the right
14 Q. And can his Lordship take it that you have authorised 14 over the berths at Onega Terminal?
15 this pleading? 15 A. On the renting the berths from the State.
16 A. Of course, yes. 16 Q. And those companies, or one or other of them, they
17 Q. And could you please be shown paragraph 153 (n) on 17 allowed Onega to use those berths, didn’t they?
18 {I22/30/54}. 18 A. We had a contract of cooperation with them, yes.
19 A. Sorry, which paragraph? 19 Q. Can you be shown, please, {C1/1/58}, paragraph 229. You
20 Q. 153 (n), N for Noddy. 20 claim that the demise of Onega is as a result of
21 This is a recent allegation, Dr Arkhangelsky, 21 the conspiracy you allege, don’t you?
22 against ROK N1 Prichaly? 22 A. Sorry?
23 A. Yes, it’s a part of official report, and as far as 23 Q. Paragraph 229?
24 I understood, this has been confirmed by Mrs Volodina on 24 A. Yes, what I claim?
25 her cross-examination. And it actually came from your 25 Q. I think you claim that the demise of Onega —

81

1 disclosure, whom the Bank sold assets and how it’s done,

2 so …

3 Q. Sorry, Dr Arkhangelsky, do you agree that an allegation

4 of conspiracy and dishonesty is a serious allegation?

5 A. Of course, yes.

6 Q. And is it right that you are alleging that against

7 ROK N1 Prichaly?

8 A. Yes, of course. They are part of the fraud done by the

9 Bank.

10 Q. If you look at {D166/2833/1}, please, this is a document

11 from the defendants’ disclosure.

12 A. Yes.

13 Q. It’s looks as if it’s from a bank’s website. Can you

14 see that there is a reference to the Sea Fishing Port

15 Limited Liability Company; can you see that?

16 A. Yes. So is it from the Bank of St Petersburg website,

17 or what is it?

18 Q. It’s from VEB’s website and it is from your disclosure.

19 I just suggest to you, Dr Arkhangelsky, that you

20 have no basis for saying that ROK Prichaly, a business

21 associated with Sea Fishing Port, that that is in any

22 way involved with any conspiracy here?

23 A. It’s involved, and so far as I understood from

24 cross-examination of Mrs Volodina she confirmed that to

25 Mr Stroilov; that she knows very well the director and

83

1 A. «Demise», what is it?

2 Q. It’s your word, Dr Arkhangelsky, sorry. Is this your

3 witness statement?

4 A. Yes. I cannot see this. (Pause)

5 Yes, and we have video on that, on the raid,

6 I think.

7 Q. You didn’t make a claim in relation to Onega in your BVI

8 proceedings, did you?

9 A. I don’t remember that.

10 Q. Why not?

11 A. Maybe I have not.

12 Q. And Onega had other creditors, didn’t it, apart from

13 Bank of St Petersburg?

14 A. Yes, it was as minor creditor, I think, yes, VTB Bank.

15 But the problems started on much later stage after the

16 troubles with the Bank of St Petersburg.

17 Q. Could you be shown {C1/1/10}, please.

18 Sorry, Dr Arkhangelsky, just to be clear: I suggest

19 to you that the demise of Onega Terminal was not in any

20 way the result of any alleged conspiracy by

21 Bank of St Petersburg.

22 A. No, it was alleged conspiracy of

23 the Bank of St Petersburg, and Mr Savelyev personally.

24 Q. Could you be shown, please, {C1/1/10}. Paragraph 33,

25 you refer to some real estate at Tsvelodubovo; can you

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1 see that?

2 A. Yes.

3 Q. Can you be shown {D174/2906/1}, please.

4 A. Yes.

5 Q. This is an extract from, I think, the same website that

6 you referred to in your witness statement?

7 A. Yes.

8 Q. And it’s on the Renord-Invest website, isn’t it?

9 A. Yes.

10 Q. And can you confirm that the property you are referring

11 to in paragraph 33 of your witness statement that I have

12 just taken you to is the land referred to as Vyborgsky

13 District, near the village of —

14 A. No, it’s a different one. You are talking about

15 Seleznevo. It’s a different one.

16 Q. Maybe I have the wrong page there. I will come back to

17 it. I will come back to that, Dr Arkhangelsky,

18 I apologise for that, it was a wrong reference.

19 Sorry, yes {D174/2906/5.1}, that was the reference

20 I meant to give. Sorry, Dr Arkhangelsky, I think the

21 wrong reference came up on the screen, I am sure it is

22 my fault.

23 Are you saying that the reference there to:

24 «Near the village of Tsvelodubovo», that that is not

25 the right entry?

1 A. Yes, what is written here on the website of Renord, yes.

2 MR JUSTICE HILDYARD: So it’s the land in the Vyborgsky

3 District, near the village of Tsvelodubovo?

4 A. Yes, we are discussing that right now and this is

5 a reference from the website of Renord.

6 MR JUSTICE HILDYARD: Yes I say this partly for the benefit

7 of the transcript.

8 A. Because we are also claiming that some other parts of

9 land have been expropriated.

10 MR LORD: I just want to ask you, please, about another

11 piece of land you refer to at paragraph 213 of your

12 witness statement at {C1/1/53}. If we could keep the

13 valuation, or the website on the screen, please.

14 A. Sorry, which paragraph?

15 Q. Paragraph 213.

16 A. Yes. In paragraph 213 it’s discussed the land on

17 Seleznevo, so on the right-hand screen, the top land

18 plot, 14.7 hectares, which been on the balance sheet of

19 Western Terminal.

20 Q. And it appears to be on the market for RUB 12 million,

21 doesn’t it?

22 A. It appears to be on the website of Renord in the middle

23 of 2015, for RUB 12 million, yes.

24 Q. You made some complaint, I think, in these proceedings

25 about the values that were got for your personal

85 87

1 A. In the document you are showing me now, there are three

2 different entries.

3 Q. Yes. Yes, that’s right.

4 A. Yes.

5 Q. I was wondering, is one of them not the plot that you

6 refer to in paragraph 33?

7 A. Can you show me this paragraph back?

8 Q. Yes.

9 A. So just leave this on the screen as well as the

10 paragraphs —

11 Q. Yes, {C1/1/10}.

12 A. And the paragraph you are referring, 34; yes — 33; yes?

13 Q. Yes?

14 A. So paragraph 33 I’m referring to what’s called on the

15 right screen, «Village of Tsvelodubovo», yes.

16 Q. Yes, I thought that was right. It was my fault, the

17 wrong screen came up. My fault entirely, I’m sorry

18 about that.

19 And RUB 2.5 million, how many dollars is that,

20 roughly?

21 A. What is the exchange rate now, it is 80, or 90, 80?

22 Something like that. Which exchange rate do you want on

23 that?

24 Q. If you, say, take $25 to the rouble, that would be,

25 what, about $100,000?

1 property; do you remember that?

2 A. Yes, sure.

3 Q. Can I suggest to you that the second-hand value of

4 personal property is always very low?

5 A. Absolutely not.

6 Q. Because people often don’t want second-hand jacuzzis or

7 the like, do they?

8 A. They were quality and master-made, and so I cannot

9 agree.

10 Your Lordship, our flat in what we were discussing

11 there, our property we allocated, so it was a completely

12 new flat which been built several years before we

13 emigrated, but we never actually been normally living

14 there, so everything was absolutely new, because we had

15 a house outside and we were just coming, let’s say, once

16 in two or three months just to stay overnight in

17 the city, and so on. So everything was completely new

18 and quality ordered all around the world and so on. And

19 so it was, really — for us it was, you know, a kind of

20 museum.

21 Q. I’m going to ask you now, Dr Arkhangelsky, about some of

22 your other assets.

23 A. Yes.

24 Q. I will ask his Lordship to turn up, please, in the core

25 bundle, the letters from RPC at {I20/22/4}, and

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February 24, 2016 Day 16 — Redacted

1 {I20/26/31}, which are behind divider 1. 1 that you are aware of where there have ever been more
2 Dr Arkhangelsky, I wonder if you could be provided 2 than one OMG company of the same name, but with
3 with a hard copy of those letters. 3 different company numbers?
4 A. No, it’s okay, I can see that. 4 A. No, I don’t think so.
5 Q. It might be quicker if we had the hard copy, that’s all. 5 Q. So it is just those three, is it: OMG Ports, Group Oslo
6 Your Lordship will recollect these are letters 6 Marine, and what was the last one?
7 raising — sorry, it’s at the front of the core bundle. 7 A. Leasing Company Scandinavia.
8 MR JUSTICE HILDYARD: I’m sorry. 8 Q. Leasing Company Scandinavia.
9 MR LORD: Sorry, my Lord, it is the front of the core 9 A. Yes.
10 bundle, behind divider 1, and there are some letters. 10 Q. If you could be shown, please, {G1/20/32},
11 MR JUSTICE HILDYARD: Yes, so sorry. 11 paragraph 134(c). This is an affidavit of yours,
12 MR LORD: Your Lordship will recollect that those are 12 Dr Arkhangelsky, in relation to the freezing injunction?
13 letters which we have drawn to the court’s attention, 13 A. Yes.
14 and we have respectfully invited that they might have 14 Q. And can you see what you have said at the bottom of
15 been answered, and I am going to ask about them. 15 the page, at 134(c)? (Pause)
16 Dr Arkhangelsky, the letter at {I20/22/4} asks — 16 A. Yes. I see what I see — what I said.
17 MR JUSTICE HILDYARD: Sorry, which … 17 Q. May I just ask you to refresh your memory of that, and
18 MR LORD: Do it on screen, if you would rather. It’s up to 18 for his Lordship to note it.
19 you, I don’t mind. Which would you prefer? 19 You say in relation to these companies where there
20 A. It’s okay, screen is good for me, yes. 20 appear to be two companies with the same or similar
21 Q. All right. {I20/22/4}, you can see a letter of 21 names, you say this, at the end of this piece of your
22 5 January 2016 from RPC to you and Mrs Arkhangelskaya; 22 evidence: {G1/20/33}
23 can you see? 23 «… while the other ‘mirror companies’ were
24 A. Yes. 24 established solely to preserve the rights to well
25 Q. And it raises some questions about what have been 25 established trade makes (see below).»

89

1 described as «OMG mirror companies», doesn’t it?

2 A. Which paragraph you are referring now?

3 Q. Well, the whole letter raises questions about the fact

4 that there appear to be, in relation to some OMG

5 companies, more than one OMG company with the same

6 name —

7 A. Yes, it’s — we created —

8 Q. Sorry, may I finish the question? You asked for the

9 question — but with a different number?

10 A. Yes, it was widely discussed on my cross-examination in

11 these proceedings on the freezing order, and I’ve given

12 a proper explanation what and how it was, and that

13 indeed three companies with the same name was

14 established, and that was in my active cooperation with

15 V-Bank, where I wanted just to try to recover my

16 businesses.

17 Q. And what were those three companies? There were two

18 OMG Ports companies, weren’t there?

19 A. No, I think one is OMG Ports, another is OMG Group, and

20 another is Leasing Company.

21 Q. Yes, but in relation to those OMG companies, for each of

22 those, there is a mirror company, isn’t there?

23 A. New companies with the same name, yes, but it’s not

24 mirror companies.

25 Q. And are there any other companies with the OMG group

91

1 A. Yes.

2 Q. Can you see that?

3 A. Yes, because everybody still in the press, even in the

4 course of these proceedings, press referring that I’m

5 the owner and shareholder of Oslo Marine Group and

6 Oslo Marine Ports, and so on, so. Even the first one,

7 the initial Oslo Marine Group, been bankrupted many

8 years ago, still people think or consider me as the

9 owner of all these names. So I’m associated with all

10 these names.

11 Q. So what did you mean by saying they were:

12 «… established solely to preserve the rights to

13 well established trademarks…»

14 A. Yes, the name of Oslo Marine Group and Oslo Marine Ports

15 is well known internationally, in the media, on the web

16 and so on, so I thought that at some stage maybe I would

17 be able to come back and recover, and that’s it.

18 Q. So have you set up some companies and transferred

19 various rights into them?

20 A. No. What do you mean, «rights»?

21 Q. Well, I’m not sure what you are talking about. When you

22 say «to preserve the rights», it’s your affidavit:

23 «… to preserve the rights to well established

24 trademarks…»

25 A. Yes, I just —

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February 24, 2016 Day 16 — Redacted

1 Q. What are you talking about there? 1 the next page in the exhibit, and it is «Loans issued by
2 A. I just wanted to have — speaking about 2 Vyborg Port as at 30 September 2012»; can you see that?
3 Oslo Marine Group and Oslo Marine Group Ports, I just 3 A. Yes.
4 wanted to one day to come back and restart, maybe, 4 Q. So the first slide appeared to be monies coming into
5 business. That was my idea by that time. I think it 5 Vyborg Port, and this statement seems to record loans
6 was 2010 or 2011, something like that, and that was 6 issued by Vyborg Port?
7 a part of kind of discussions, negotiations, with 7 A. Yes, most probably, yes.
8 V-Bank, because V-Bank was supporting me, and there were 8 Q. If you look at the entries, you can see that there are
9 a lot of different discussions and I was dreaming that 9 some quite significant loans made by Vyborg Port to
10 maybe at some stage, these or BVI or Cyprus proceedings 10 OMG Ports; can you see that?
11 would bring me to some result. 11 A. Yes.
12 MR JUSTICE HILDYARD: Are they registered trademarks, or … 12 Q. RUB 424 million, RUB 275 million, RUB 199 million; can
13 A. No. In Russia it’s not that developed, I mean 13 you see that?
14 trademarking, or … you can register any company with 14 A. Yes.
15 any name, just tax authorities would give you the unique 15 Q. If we look, please, at — keep that on the screen,
16 registration number, let’s say. 16 please. Could we have {G1/6/5}. Actually, if we start
17 MR LORD: I’m going to ask you now, Dr Arkhangelsky, about 17 at {G1/6/1}, this is your first affidavit in these
18 Vyborg Port. 18 proceedings, Dr Arkhangelsky.
19 A. Yes, may we have a five minutes break? 19 A. Yes.
20 MR JUSTICE HILDYARD: How are you doing, Mr Lord? 20 Q. In relation to the freezing order.
21 MR LORD: Reasonably well. Well, timing wise, I mean. 21 A. Yes.
22 I don’t mean in any other way. 22 Q. And if you just scroll through the pages, you can see
23 MR JUSTICE HILDYARD: We will have 10 minutes’ break. 23 that you have set out evidence of your assets. {G1/6/2}
24 A. It’s a bit cold here, is it possible to — 24 {G1/6/3} {G1/6/4}
25 MR JUSTICE HILDYARD: That’s my fault. I got a bit hot 25 A. Yes.

93

1 yesterday. Is it very, very cold?

2 MR LORD: No.

3 A. Because I feel the difference from yesterday.

4 MR JUSTICE HILDYARD: Yes, I thought it got very, very hot

5 yesterday, so try and warm up. It’s simply to make sure

6 I don’t overheat and fail to concentrate.

7 (11.31 am)

8 (A short break)

9 (11.42 am)

10 MR LORD: Dr Arkhangelsky, could you please be shown

11 {N11/19/90}, please. If that could be blown up on the

12 screen a bit, if possible.

13 This looks to be a financial statement for

14 Vyborg Port as at 30 September 2012, and it is exhibited

15 to one of Mr Ameli’s affidavits, served on your behalf,

16 Dr Arkhangelsky?

17 A. Yes.

18 Q. And you can see that it sets out the credits received by

19 Vyborg Port, do you see that?

20 A. Yes.

21 Q. You can see a list of loans from V-Bank, can’t you?

22 A. Yes.

23 Q. And it comes to a total of about RUB 1.7 billion?

24 A. Yes.

25 Q. If we go, please, to the next page, {N11/19/91}, this is

95

1 Q. And at {G1/6/5}, paragraph 13.1 —

2 A. Yes.

3 Q. — you give some evidence about the shareholding in

4 Oslo Marine Group Ports; can you see that?

5 A. Yes.

6 Q. You say: {G1/6/2} {G1/6/3}

7 «This company is the owner of the Vyborg Port. The

8 company does not do any business — it just holds the

9 asset — Vyborg Port.»

10 A. Yes, we discussed that yesterday, I think, yes.

11 Q. Now, can you explain why, if Oslo Marine Group Ports

12 simply owns the shares in Vyborg Port, Vyborg Port seems

13 to have made these loans out to OMG Ports?

14 A. I don’t remember that.

15 Q. So is the answer that you cannot explain them?

16 A. No, I don’t remember. I have not been a party to any of

17 these transactions. I assume something connected to

18 the payment of interests or any other acquisitions of

19 any other assets. So I don’t remember.

20 MR JUSTICE HILDYARD: It’s quite a lot of money.

21 A. Sorry?

22 MR JUSTICE HILDYARD: It’s quite a lot of money,

23 Dr Arkhangelsky.

24 A. Which particular amounts are we speaking right now?

25 MR LORD: Dr Arkhangelsky, it’s really that the three

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February 24, 2016 Day 16 — Redacted

1 Oslo Marine Group Ports loans come to about

2 RUB 900 million; can you see that?

3 A. Sorry, once again; can you repeat, please?

4 Q. If you total up the three loans from Vyborg Port to what

5 we have assumed is the parent company —

6 A. Yes.

7 Q. — OMGP —

8 A. Yes.

9 Q. — they seem to come to some RUB 900 million.

10 A. Yes.

11 Q. Which is, what, some $35 million, or $40 million?

12 A. No, it is RUB 900 million, so what I assume, that

13 OMG Ports is the owner of — was the owner of Western

14 Terminal. So what I may assume now, that 900 million,

15 that was exactly the amount by which OMG Ports bought

16 Western Terminal. So that’s the amount been paid.

17 So V-Bank, Vozrozhdenie Bank, given a loan to port

18 of Vyborg to finance acquisition of Western Terminal.

19 Q. Dr Arkhangelsky, the dates don’t work, do they, because

20 OMGP bought Western Terminal in May 2007, didn’t it?

21 A. Yes.

22 Q. And these loans are December 2007, aren’t they? So they

23 are about —

24 A. No, contract due. So I assume that —

25 Q. No, Dr Arkhangelsky, for the transcript, «Contract

1 of Vyborg Port — of Western Terminal.

2 Q. Dr Arkhangelsky, what’s the point of all this intra- or

3 inter-OMG movement of money? Why couldn’t it be done in

4 a simpler way? Why couldn’t the company that is buying

5 the asset not just borrow the money from a bank?

6 A. Because that was the condition of V-Bank. V-Bank wanted

7 to have, as a client, as a borrower, Vyborg Port, which

8 considered — first of all, by that time it was already

9 acquired, and V-Bank wanted to make this structure, so

10 that was their suggestion.

11 Q. Don’t you agree it looks a bit odd on the face of it —

12 A. No, no, it was a subject to what V-Bank — under which

13 conditions they’ve given us the loan.

14 Q. But when you said in your affidavit, which I just took

15 you to, at {G1/6/5} at paragraph 13.1, when you said in

16 this affidavit that the company, that’s OMG Ports:

17 «… does not do any business — it just holds the

18 asset —»

19 A. Yes, it doesn’t do any business, it just holds assets.

20 Q. But I think you are suggesting now that it undertook

21 various lending; is that right?

22 A. No. When — so, initially, Oslo Marine Group Ports

23 acquired Port of Vyborg. Then the same seller, when we

24 understood that it’s a good asset, the same seller

25 decided to sell us Western Terminal. By that time, we

97

1 date», is dates in —

2 A. Ah, «Contract date». Yes.

3 Q. Do you see that?

4 A. Yes.

5 Q. So do you want to try again, because it can’t be right,

6 can it —

7 A. No, no, no.

8 Q. The acquisition of — can I finish the question?

9 A. Yes.

10 Q. It can’t be right that the acquisition of Western

11 Terminal by OMGP can explain these three loans seemingly

12 made by its subsidiary Vyborg Port to it in

13 December 2007? {N11/19/91}

14 A. No.

15 Q. Can you —

16 A. Yes, I can explain you, yes.

17 Q. Right?

18 A. Because the table you are showing here is dated

19 30 September 2012. It doesn’t mean that before

20 6 December, for example, 2007, there were no previous

21 contract, so they are just dating the current contracts.

22 But I am absolutely sure, your Lordship, that the

23 transaction was that V-Bank was issuing loan to

24 Vyborg Port, and Vyborg Port was giving a loan to

25 OMG Ports, and OMG Ports was transferring to the seller

99

1 hadn’t had any property rights on Western Terminal, so

2 V-Bank suggested that the current client of V-Bank,

3 Vyborg Port, obtained a new loan, which been granted as

4 a loan to Vyborg Port, and then Vyborg Port given a loan

5 to the mother company, OMG Ports, to acquire Western

6 Terminal. So that was a condition of financing.

7 And, in fact, OMG Ports is not doing any business.

8 That was used just for one particular transaction.

9 Q. And can you explain why Vyborg Port was making loans to

10 Re-Gata? I thought that Re-Gata was a shell company, or

11 was I wrong about that? {N11/19/91}

12 A. Re-Gata was, I think, one of the trading companies.

13 I may assume that that might be connected to some

14 consultancy agreements or something like that.

15 Q. And that’s RUB 500 million?

16 A. Maybe, yes, because you just, yesterday or the day

17 before, asked where our money was coming from and where.

18 I mean in respect to Mr Dmitrienko and his consultancy

19 arrangements. I may assume that some of the figures are

20 coming here.

21 Q. What about Svir LLC?

22 A. Svir, it’s RUB 3 million, as far as I understand, which

23 is the Shaglino saw mill. I think it was an initial

24 investment by Vyborg Port for that plot. So it’s how

25 much, it’s $100,000? I think it’s projecting works, or

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February 24, 2016 Day 16 — Redacted

1 something like that.

2 Q. I’m going to ask you now, Dr Arkhangelsky, about the

3 transfer of shares in Vyborg Port to Akort, if I may?

4 A. Yes, please.

5 Q. Could you be shown {G2/34/6}, please.

6 A. So this document, what is it?

7 Q. If you go to {G2/34/1}, it’s an affidavit, your third

8 affidavit —

9 A. Mine?

10 Q. {G2/34/1} it’s your third affidavit, Dr Arkhangelsky, in

11 these proceedings. You can see the context,

12 paragraph 1.

13 A. Yes.

14 Q. If you could go to {G2/34/6} and paragraph 26, could you

15 read paragraph 26 to yourself, please, and I invite his

16 Lordship to read it. (Pause)

17 You said in this affidavit, which was on

18 15 October 2012, that:

19 «[Your] only substantial asset is Vyborg Port…»

20 A. Yes.

21 Q. Do you see that?

22 A. Yes.

23 Q. Can you be shown, now, please, {D166/2835/1}.

24 A. Can I have the Russian version, please? {D166/2835/2}.

25 Yes.

1 you agree?

2 A. Yes, what’s written there.

3 Q. And RUB 10,000 wouldn’t reflect the true value of either

4 of those companies, would it?

5 A. Absolutely.

6 Q. Sorry?

7 A. I agree with you, it wouldn’t reflect the real value of

8 the companies.

9 Q. What would be the real valuation, in your estimation, at

10 that time, for those two companies, Vyborg Port —

11 A. As far as I remember, what we discussed yesterday,

12 GVA Sawyer valued it at about 500 million less

13 borrowings of 100 million; let’s say 400 million,

14 350 million. 350 million net, I think.

15 Q. And what about Port Equipment?

16 A. That’s altogether, I think.

17 Q. Altogether.

18 And you can’t explain this; is that right?

19 A. I never done this document, so what should I explain?

20 Q. Can I show you some other documents, please? Perhaps if

21 his Lordship has a letter from Withers. If we could

22 have on screen {I15/15/105}, please. Yes, if we go,

23 please, to the first page of that letter, which is —

24 sorry, {I15/15/103}.

25 Dr Arkhangelsky, you will see that some questions

101 103

1 Q. At {D166/2835/1}, in the English, and at {D166/2835/2}

2 in Russian, for the transcript —

3 A. Yes.

4 Q. — there appears to be an instruction dated

5 17 June 2013, signed and sealed by you, Dr Arkhangelsky.

6 A. No, that’s not my signature. I never done this

7 document. I never produced this document. I never

8 signed this document, and we already — we’ve been in

9 discussion with you in these proceedings about this

10 document.

11 Q. And is this an instruction that you say was entered into

12 by Mr Vasiliev? Is that — what’s your explanation for

13 this document?

14 A. I don’t have explanation, because I never signed this

15 document, I never done this document, I never intended

16 to sign this document.

17 Q. Do you agree that, on the face of it, it looks to be

18 an instruction from you to Mr Vasiliev —

19 A. On the face, yes.

20 Q. — to transfer by 1 August 2013, on behalf of OMGP to

21 Akort LLC, 99.9 per cent of the shares in Vyborg Port

22 and 99.9 per cent of the shares in Port Equipment LLC;

23 do you agree?

24 A. Yes, that looks on the face, yes.

25 Q. And in each case for the consideration of RUB 10,000; do

1 were put to Withers in relation to the apparent transfer

2 of shares in Vyborg Port and Port Equipment.

3 A. As far as I remember, it’s we who started to ask you or

4 your preceders in respect to that. So it’s we who asked

5 for your replies, and we sent, I think, at least five or

6 six letters referring here, and we never, ever got

7 a reply.

8 Q. Could you be shown {I15/15/105}, please, which is the

9 third page of the letter.

10 My Lord, there is a hard copy here, which I think

11 may have to go into the core bundle, so that it might be

12 easier for your Lordship to reference. (Handed)

13 MR JUSTICE HILDYARD: Thank you.

14 MR LORD: I wonder, please, Dr Arkhangelsky, could you look

15 at that final page. Could you read that final page,

16 because it seems to set out some information about the

17 apparent transfer of the shares in these companies,

18 advanced by Withers in this letter; could you just read

19 it to yourself, please?

20 A. Sorry, money?

21 Q. That page.

22 A. You want me to read the whole page?

23 Q. Just to yourself, yes please.

24 A. Okay. (Pause)

25 Yes.

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February 24, 2016 Day 16 — Redacted

1 Q. Withers were dealing with, amongst other things, certain

2 documents that looked like they were powers of attorney

3 in favour of Mr Vasiliev, weren’t they? We can see

4 those, if you like, {D142/2393/1}.

5 A. May I have the Russian version, please?

6 Q. Of course you may; I think the Russian version is

7 probably at {D142/2393/3}.

8 A. Yes.

9 Q. Just on the face of it, it looks like a power of

10 attorney entered into in Marseille —

11 A. Yes.

12 Q. — on 18 June 2011?

13 A. Yes.

14 Q. And, Dr Arkhangelsky, it looks as if this was a power of

15 attorney signed by you?

16 A. Yes.

17 Q. Can you see the verification at the end of it?

18 A. It’s my — my power of attorney, signed 18 January 2011,

19 yes.

20 Q. So you accept that you did sign this document?

21 A. Yes, sure, sure, sure. Do you need an explanation what

22 for and why I signed that?

23 Q. Yes, please.

24 A. Yes. In around 2010, I think, in October —

25 September/October, just prior to the fact that I’ve been

1 started thinking on the transaction, and suddenly I’ve

2 been arrested and there was a lot of scandal, especially

3 in the English press also, and they wanted to have this

4 power of attorney.

5 Q. The power of attorney looks as if it’s instructing the

6 attorney, Mr Vasiliev, to dispose of the shares in Port

7 Equipment and Vyborg Port Limited, those shares being

8 held by OMGP?

9 A. Yes.

10 Q. Is that right?

11 A. Yes.

12 Q. And you accept that this was a power of attorney that

13 you caused to be entered into?

14 A. Yes, yes, yes, sure, what I’m telling: I went to

15 the notary and I signed this and I’ve given this power

16 of attorney to Mr Vasiliev and also to the Association

17 of British Ports for their due diligence process.

18 Q. What happened as a result; did he transfer any of

19 the shares as a result?

20 A. Not on my instructions.

21 Q. Did he transfer —

22 A. So the transaction —

23 Q. Sorry, Dr Arkhangelsky. To the best of your knowledge,

24 did he transfer any shares in Port Equipment or

25 Vyborg Port Limited pursuant to this 2011 power of

105 107

1 arrested by the Russian — by Interpol, I came to

2 Finland, to Helsinki, with the big delegation of

3 Association of British Ports, it’s a publicly listed

4 English company, and they had a plan, so there were,

5 I think, three or four people, financial director,

6 managing director and so on, so they wanted to buy

7 Vyborg Port.

8 So we had a business discussion on this, I think it

9 was in September/October 2010, and after that they went

10 to Vyborg Port and there were several other visits, so,

11 in fact, I had in plan around that time, so 2010, to

12 sell Vyborg Port to Association of British Ports, so we

13 had a very, very serious discussions of that.

14 Just to be on the safe side and to be able to make

15 this transaction, just shortly after I’ve been released

16 from the prison, I went to the notary, Russian notary in

17 Marseille, to get — to make documents in case we would

18 be able to sell Vyborg Port, so to make a necessary

19 paperwork. So that was a requirement of Association of

20 British Ports, so they wanted to see, for their due

21 diligence process, that it’s theoretically possible,

22 especially after this scandal about Interpol and arrest

23 and so on.

24 So you can understand that English — I think they

25 had something like 50 ports in their portfolio, and they

1 attorney?

2 A. That was planned that — and that power of attorney was

3 created for the transaction with ABP, and that was

4 planned in 2011, but as far as I know from your

5 documentation sent to you, you are claiming that he

6 finally done it, but without my instructions.

7 Q. Dr Arkhangelsky, surely you would have known, surely he

8 would have spoken to you to tell you whether he carried

9 out this transfer of valuable companies, wouldn’t he?

10 A. No, and I sent an enquiries to him, written enquiries,

11 and he never, ever replied to that.

12 Q. But he has been giving evidence on your behalf in these

13 proceedings, hasn’t he?

14 A. Yes.

15 Q. So you are not suggesting that he has not been

16 cooperating with you, are you?

17 A. He has been cooperating until some moment.

18 Q. When was that?

19 A. When he was coming to give evidences.

20 Q. When was that?

21 A. So he was coming in, I think, 2010, 2011. I don’t

22 remember the last time he came, but last time he came to

23 Nice, we’ve been together with Mr Stroilov and

24 Ms Deliya Meylanov. So three of us, we met Mr Vasiliev.

25 I think it was — I don’t remember the date.

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1 Q. October 2012, perhaps?

2 A. No, I think afterwards, even.

3 Q. All right, after —

4 A. I think it’s afterwards, so …

5 Q. I see, yes.

6 A. So, as I said, we had a two days’ meeting with him

7 together with Mrs Meylanov, Deliya Meylanov from

8 Withers, and Mr Pavel Stroilov in Nice. So, but he has

9 not told us anything, so that was my last meeting with

10 him and last correspondence I ever had with him.

11 Q. And are you saying that he did or didn’t tell you that

12 he transferred the shares in these two companies?

13 A. No, he didn’t tell us, so —

14 Q. Didn’t you ask him? Surely you kept in contact with him

15 by telephone and asked him what was going on?

16 A. No, he was under so big pressure by Levitskaya, so he

17 kind of disappeared after that time.

18 So most of my Russian contacts, they prefer and

19 suggest not to get calls from myself, and they normally

20 even — if I tried to make a call, they are normally not

21 replying, so they’re really afraid.

22 Q. But surely you were concerned to find out what had

23 become of these shares in these valuable companies,

24 weren’t you?

25 A. Of course, yes, and I sent several enquiries to them,

1 A. And in Russia, to withdraw the power of attorney you

2 have to go to the notary public and do special process,

3 so it’s nearly impossible for me.

4 MR LORD: Could you be shown, please, {D156/2630/1}.

5 A. Yes.

6 Q. The Russian is at {D156/2630/2}.

7 A. Yes.

8 Q. This looks like it’s a power of attorney given in

9 Marseille in France on 31 January 2012 by you; is that

10 right?

11 A. Yes.

12 Q. To Mr Vasiliev?

13 A. Yes.

14 Q. And you confirm that you did give this power of attorney

15 to Mr Vasiliev in this form?

16 A. Yes.

17 Q. Could you be shown {D168/2855/1}, please. {D168/2855/3}

18 in the Russian. This looks, Dr Arkhangelsky, as if it

19 is a power of attorney given by you on behalf of OMGP on

20 7 February 2014 in Nice, France; is that right?

21 A. I don’t think so, no. I don’t think it’s my signature,

22 and it’s actually strange that — I assume that such

23 kind of power of attorney to be given under the notary

24 seal, so I’m not sure it was a valid document in any

25 respect, but it’s definitely not my signature, and not

109 111
1 which were enclosed to the letter you were just 1 a document produced by me.
2 referring. So I sent an enquiries and reminders, but we 2 Q. Because it seems to give Mr Vasiliev the power to enter
3 never, ever got any reply on that. 3 into a contract with Akort LLC to buy the 0.1 per cent
4 Q. Could you be shown {D156/2630/1} — 4 of the shareholding in Vyborg Port and
5 A. And all these enquiries been copied to Mr Stroilov and 5 Port Equipment LLC from OMGP, doesn’t it?
6 I think to Mrs Deliya Meylanov, so it’s well recorded, 6 A. It looks like, yes.
7 all this correspondence. 7 Q. So on the face of it, it looks as if that is going to
8 Q. So Ms Meylanov will know all about this, will she? 8 authorise Mr Vasiliev to enter into the acquisition by
9 A. I think she would probably remember about that, yes, 9 Akort of the remaining shareholding in these two
10 because I think she was in copy, or at least Mr Stroilov 10 companies; do you agree?
11 has been in copy for sure. 11 A. Yes, on the face it looks like, yes.
12 MR JUSTICE HILDYARD: What happened to the power of 12 MR JUSTICE HILDYARD: Can we have a look at the second page
13 attorney; is it still in being or was it cancelled? 13 in English? {D168/2855/2}.
14 A. You see, you cannot cancel it, because based on the 14 This is an OMG — were the other ones stamped,
15 Russian law, to cancel it — 15 I can’t remember, that you have taken me to?
16 MR LORD: It is valid for three years, my Lord. 16 MR LORD: I’m not sure, my Lord. The previous one was
17 MR JUSTICE HILDYARD: Three years? 17 {D156/2630/1}.
18 MR LORD: Yes, it says on its terms. 18 MR JUSTICE HILDYARD: Yes, can we have a look at that; I’m
19 MR JUSTICE HILDYARD: Sorry, where is that? 19 so sorry.
20 MR LORD: It’s the last paragraph on the second page. 20 MR LORD: It looks like it has been certified at the bottom,
21 {D142/2393/2} 21 my Lord.
22 MR JUSTICE HILDYARD: Can we have a look? 22 MR JUSTICE HILDYARD: Can we have the Russian, the original?
23 A. So the power of attorney finished its power 23 MR LORD: {D156/2630/2}, please, on the other screen.
24 18 January 2014. 24 Sorry, is there a hold up? Can I have {D156/2630/2},
25 MR JUSTICE HILDYARD: Three years, okay. 25 please.
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February 24, 2016 Day 16 — Redacted

1 A. So this is a normal power of attorney I would be doing,

2 so I would approach notary and notary would certify me.

3 MR JUSTICE HILDYARD: That’s the embassy stamp, is it, at

4 the bottom?

5 A. Yes, yes, yes, it’s the stamp of the notary of the

6 embassy, let’s put it this way.

7 MR JUSTICE HILDYARD: Yes, if we go back, then, please, to

8 {D168/2855/3}, please.

9 A. It doesn’t have any certification.

10 MR JUSTICE HILDYARD: It has OMG’s stamp but it doesn’t have

11 any embassy certification?

12 A. No.

13 MR JUSTICE HILDYARD: It doesn’t say that it is before

14 a notary.

15 A. It doesn’t say it, no. I should say that, how we see

16 this, it’s quite an unusual document, because in Russian

17 nobody believes in the signatures; it has to be

18 certification and numbering.

19 MR JUSTICE HILDYARD: Did you keep the seal of OMG Ports

20 when you fled to France?

21 A. No. You see, I fled with — just with my bag with my

22 computer at the time and just a few things because I had

23 to tell to everybody that I am just going for one day or

24 two days or something like that, just to prevent any

25 accidents.

1 asking these questions at this trial is concerned with

2 at this stage.

3 MR JUSTICE HILDYARD: There may be two points, and I would

4 like your comments. One is, of course, I shall explain

5 this, to Dr Arkhangelsky, but the other is, should I not

6 direct that these answers be not used in any other

7 proceedings, including the freezing injunction, without

8 my permission?

9 MR LORD: I am happy with that, my Lord.

10 MR JUSTICE HILDYARD: Dr Arkhangelsky, this is a variant of

11 the theme which has caused so much trouble, which is

12 that you should be alerted to the possibility that your

13 answers may land you in trouble in other proceedings.

14 The freezing injunction which was made and

15 subsequently confirmed prevents you dealing with your

16 assets, and also required you to give disclosure.

17 Mr Lord has warned us that some of his questions

18 will probe whether you did deal with your assets or did

19 give full disclosure.

20 Your answers could, therefore, if they revealed

21 dealings, or inadequate disclosure, land you in trouble

22 because the freezing order has a penal order and,

23 therefore, quasi criminal — it is not quite criminal,

24 but quasi criminal consequences.

25 A. Yes, we are well aware about the freezing order and we

113 115
1 MR JUSTICE HILDYARD: Have you got it now? 1 have done all the disclosure, including the later
2 A. Sorry? 2 disclosure based on the your order of, whatever, a month
3 MR JUSTICE HILDYARD: Have you got it now — 3 ago or something like that.
4 A. No, no. 4 MR JUSTICE HILDYARD: Yes, if at any time any questions may
5 MR JUSTICE HILDYARD: — did you obtain it in any other way? 5 land you in trouble or you wish direction or advice on
6 MR LORD: We are just checking that last point. 6 it, you must say so.
7 MR JUSTICE HILDYARD: Thank you, yes. 7 I have also directed, by consent, but I would have
8 MR LORD: My Lord, before I ask the next few questions, 8 directed it anyway, that the answers given here are not
9 I want to make sure I am going steadily. There is 9 to be used in any other proceedings, including the
10 obviously a freezing injunction here. 10 freezing injunction proceedings, without my permission.
11 MR JUSTICE HILDYARD: Yes. 11 A. Thank you.
12 MR LORD: The purpose of my question is to establish what’s 12 MR LORD: Thank you, my Lord.
13 become of these assets and whether they have been 13 Dr Arkhangelsky, having covered those documents,
14 available to do various things. 14 could we go back, please, to the Withers letter at
15 MR JUSTICE HILDYARD: Yes. 15 {I15/15/105}. You can see in the second paragraph,
16 MR LORD: It is not my intention in asking these questions 16 starting «Mr and Mrs Arkhangelsky», it reads:
17 at this stage to be trying to derive some issue under 17 «Mr and Mrs Arkhangelsky confirm that they have from
18 the freezing injunction. That may or may not arise at 18 time to time received funds from Vyborg Port LLC —»
19 a future date, subject to orders that your Lordship may 19 A. Yes.
20 or may not make. 20 Q. «— and/or Port Equipment LLC.»
21 So, I want it to be understood that that’s my 21 A. Yes.
22 purpose and if your Lordship feels that in those 22 Q. «In practice, however, since at least 2012 Mr and
23 circumstances, asking about these companies and these 23 Mrs Arkhangelsky have not been actively involved in
24 transfers, certain warnings should be given, then so be 24 the running of the two companies, and the lead was taken
25 it. But I hope I have made it plain what my purpose in 25 instead by the local management including Mr Vasiliev
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1 and Ms Lukina.» 1 MR JUSTICE HILDYARD: Are these open, Mr Lord? I’m not
2 A. Yes, that’s true. 2 saying you can’t refer to them, but I’m just wondering
3 Q. «Mr and Mrs Arkhangelsky can only speculate as to why 3 whether they should be —
4 payments to them were still made after they lost control 4 A. At least my wife doesn’t want that to be discussed in
5 of the companies. In principle, there is nothing 5 public.
6 strange or suspicious in the fact that the companies 6 MR JUSTICE HILDYARD: — subject to any restriction?
7 continued to discharge its legal obligation to pay wages 7 MR LORD: I am in your Lordship’s hands.
8 to their employees, notwithstanding the purported change 8 MR JUSTICE HILDYARD: I haven’t seen them yet. I mean,
9 of ownership or bankruptcy proceedings. It is also 9 I have seen them, but I haven’t looked at them.
10 understandable that our clients were disinclined to 10 MR LORD: Well, they have been exhibited to an affidavit
11 question these payments in view of their extremely 11 that’s been served and your Lordship has obviously made
12 straitened, even desperate circumstances.» 12 your Lordship’s ruling.
13 A. Absolutely. 13 I mean, if there is an issue or concern about
14 Q. Can you see that? 14 confidentiality, I am —
15 A. Yes. 15 A. We definitely —
16 Q. So can his Lordship take it that you and 16 MR LORD: Mr Arkhangelsky, please don’t interrupt.
17 Mrs Arkhangelskaya have been receiving funds from 17 A. — don’t want to be public all this.
18 Vyborg Port and Port Equipment since 2012? 18 MR JUSTICE HILDYARD: You don’t want?
19 A. Yes, that’s true, but on not regular basis and in 19 A. No, no, no.
20 absolutely different amount compared to what we’ve been 20 MR JUSTICE HILDYARD: I should have thought that —
21 receiving before that time. 21 MR LORD: I’m very happy for it to be — I’m fully prepared
22 Q. And do you know, Dr Arkhangelsky, let’s say in the last 22 for it to be kept confidential.
23 two years, approximately the value of the payments from 23 MR JUSTICE HILDYARD: I should have thought of it, but
24 those two sources that you and your wife have received? 24 I think it should be kept confidential, because it may
25 A. You have all these figures in disclosure we given last 25 involve, I don’t know, medical expenses or some such; do
117 119

1 week.

2 Q. We do, but do you want to tell his Lordship so it comes

3 from you, please? I am sure you know the figure. Do

4 you want to tell his Lordship?

5 A. I don’t remember — I don’t know the figure, so you

6 better ask my wife, but just for your understanding,

7 before 2012, roughly, it was a bit different month from

8 month, we were roughly receiving up to €20,000 a month,

9 up to 2012.

10 Since that time, it started irregular and so we have

11 not been receiving money every month, and it’s seriously

12 reduced. I think, four or five times.

13 So even now we receive around €2,500 per month,

14 again on irregular basis, but still receive it from time

15 to time.

16 Q. Because — my Lord, the disclosure is at {I23/32/1}.

17 Dr Arkhangelsky is referring, I think, to the bank

18 statements that were recently disclosed; your Lordship

19 will recollect the recent disclosure of bank statements?

20 A. Yes.

21 Q. And there are a number of entries which look as if they

22 come from these companies, payments by these companies?

23 A. Yes, as I said —

24 Q. Shall I just show his Lordship. {I23/32/102}, for

25 example.

1 you see what I mean?

2 MR LORD: Yes —

3 A. Absolutely.

4 MR LORD: — yes, I am more than happy with that, my Lord.

5 MR JUSTICE HILDYARD: Yes.

6 MR LORD: So if we —

7 MR JUSTICE HILDYARD: So how are we going to deal with

8 questioning on it?

9 A. And your Lordship, what —

10 MR LORD: I will simply identify some items —

11 A. Yes.

12 MR LORD: — which I don’t think will be —

13 MR JUSTICE HILDYARD: Controversial.

14 MR LORD: — controversial, and we can see whether they have

15 to be kept in private or not.

16 A. My Lord, may I also suggest, as long as my wife is

17 dealing with all of these statements, that probably it

18 would be proper to ask her, so if I would not know all

19 the questions. Because in our family it is her who is

20 doing everything in relation to the bank accounts and

21 statements.

22 MR JUSTICE HILDYARD: In respect of this affidavit and

23 questions on it, I should have thought, subject to

24 Mr Lord’s views, that we should move into private.

25 Likewise, questioning of your wife, but you must

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1 understand that these are matters which, as between the

2 parties —

3 A. Yes, sure, sure.

4 MR JUSTICE HILDYARD: — will be matters on which Mr Lord

5 and his clients are free to make their comments —

6 MR LORD: Within the proceedings.

7 MR JUSTICE HILDYARD: — within the proceedings.

8 A. Absolutely, but to be clear, these documents are

9 enclosed to my wife’s affidavit anyway, so she been

10 preparing to — but I’ll try to answer as much as

11 I would understand that.

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20 (Hearing in open court)

21 MR LORD: My Lord, I probably have somewhere between half

22 an hour and 45 minutes or so. I am in your Lordship’s

23 hands as to whether I press on and finish, whether

24 your Lordship wants to break and have perhaps a short

25 adjournment and come back sooner. I am in

1 your Lordship’s hands. I am not far from —

2 MR JUSTICE HILDYARD: I think we should have a break now.

3 I think it has been quite a detailed morning. You have

4 covered a very fair amount of ground, if I may say so.

5 You need about 45 minutes?

6 MR LORD: Up to 45 minutes. I may be less, depending upon

7 how quickly it goes.

8 MR JUSTICE HILDYARD: How is your list growing?

9 MR ARKHANGELSKY: Not really much, so I need about

10 altogether 20 minutes on videos and pictures, and maybe

11 10, 15 minutes on, let’s say, the list, just to mention

12 these points and up to you to decide.

13 MR JUSTICE HILDYARD: What I propose we will do, then, is we

14 will come back at 2.00, we will go on until about 2.45.

15 We will then have a break for 15 or 20 minutes for

16 Dr Arkhangelsky just to read through his notes. We will

17 then see the video.

18 If there are questions arising on the video which

19 you feel that you need, to cross-examine, we must do

20 that. It makes for a long afternoon also, but we always

21 feared that, and we will then conclude his

22 cross-examination; does that suit you?

23 MR LORD: Yes, it does my Lord, thank you.

24 MR JUSTICE HILDYARD: 2.00 pm.

25 (1.01 pm)

147

1 (The Luncheon Adjournment)

2 (2.00 pm)

3 MR LORD: May it please your Lordship. I have another

4 question about the seal, I am afraid. I wonder if these

5 copies could be distributed and handed to the witness.

6 (Handed)

7 Dr Arkhangelsky, you repeated several times today

8 that you didn’t keep the OMG Ports seal when you left

9 Russia in 2009; do you remember?

10 A. Sure, yes.

11 Q. What you have here is a copy of an e-mail from you on

12 21 September 2015 [sic] —

13 A. Yes.

14 Q. — attaching a resolution of OMG Ports, authorising you

15 to act on their behalf in these proceedings; can you see

16 that?

17 A. Yes, yes.

18 Q. What you sent through is the document that we see with

19 the blue seal.

20 A. Yes.

21 Q. Are you sure that this wasn’t a document to which you

22 actually affixed an OMG Ports seal?

23 A. No, what I say, that this document, dated 2013, at that

24 time, just for avoidance of doubt, that all the

25 corporate documents of OMG Ports and all accounts of all

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1 these companies are held in hands of Olga Lukina and

2 Yaroslav Vasiliev. So I assume that they are filing, if

3 any, tax declarations and annual reports and so on. So

4 I assume they have had to do this.

5 So this OMG Ports resolution been done at that time

6 with the support of Mr Yaroslav Vasiliev, the lawyer

7 that time, and he stamped it, so I just signed that.

8 Q. This is September 2013, Dr Arkhangelsky?

9 A. Yes. Yes. I lost the contact with him, as I told,

10 around the first days or middle of February 2014.

11 Q. So is it your evidence, on oath —

12 A. Yes.

13 Q. — that when you left Russia in the middle of 2009, that

14 you haven’t had access to the OMG Ports seal since that

15 date?

16 A. Yes, that’s true. I have not had it in my possession.

17 Everything left in the office of Vyborg Port or the

18 company called Portovoe Oborudovanie, or Port Equipment;

19 so everything been in the hands of Olga Lukina and

20 Yaroslav Vasiliev. And so — and I assume for OMG Ports

21 it’s the same accountant filing annual reports and

22 reports, the same as for Vyborg Port and Port Equipment.

23 Q. Why didn’t you tell this court at any stage when you

24 were being asked to produce resolutions in this case on

25 behalf of OMG Ports, why didn’t you explain that you

1 A. You mean that some properties been mortgaged to them,

2 yes, that’s true, and still like this.

3 Q. It’s still like that?

4 A. Yes.

5 Q. So V-Bank still have mortgages over Vyborg Port assets?

6 A. I assume so, as far as I know.

7 Q. And Port Equipment assets?

8 A. I think so, yes.

9 Q. So, presumably, you would expect V-Bank would be very

10 concerned at the fate of Vyborg Port and Port Equipment?

11 A. «Fate», what do you mean?

12 Q. At the status of those companies?

13 A. I assume so, but during — since beginning of 2012 or

14 end of 2011, I lost any personal connection to V-Bank,

15 and I know that they’ve been in discussions and

16 cooperation with Olga Lukina, general director of

17 the port, and the situation even worsened something like

18 a year after, or half a year after, then Mr Orlov, the

19 major shareholder and owner of the Bank, died, so he was

20 one of my key contact persons at the top level.

21 And Mr Novikov, by the way, he also lost his

22 position in V-Bank also, I think in or around the

23 beginning of 2012, or something like that.

24 Q. But V-Bank, as a lender with security interests

25 concerning Vyborg Port LLC and Port Equipment LLC, they

149 151

1 couldn’t get access to the seal because it was somewhere

2 else?

3 A. I never been asked. So in 2014, I had access to this

4 seal through Yaroslav Vasiliev who is holding all the

5 corporate documents, and who I assume is still holding

6 all the documents.

7 MR LORD: My Lord, I want to ask one or two further

8 questions about Akort. I don’t think we need to go into

9 private for it, unless your Lordship wishes to do that.

10 Your Lordship will see why I ask the questions I do.

11 I don’t think we need to go into private for that

12 purpose.

13 MR JUSTICE HILDYARD: If that is your assessment.

14 MR LORD: And I suggest that we wait before Dr Arkhangelsky

15 answers, and if there is any concern before he answers,

16 your Lordship can consider whether …

17 A. No, I don’t have any limitations on that, so …

18 MR JUSTICE HILDYARD: All right.

19 MR LORD: I don’t think it will arise.

20 Dr Arkhangelsky, it is right, isn’t it, that V-Bank

21 were a significant creditor of Vyborg Port?

22 A. It was the major, and I think the only one creditor of

23 Vyborg Port and Port Equipment, yes.

24 Q. And V-Bank, therefore, had security interests in

25 Vyborg Port and Port Equipment, didn’t they?

1 might be expected to have some information that could

2 help this court as to the status of those particular

3 companies and their assets, mightn’t they?

4 A. I don’t know. I am not sure.

5 Q. I understand.

6 A. Considering the circumstances around this transaction,

7 and that even you supplied us only with very limited

8 information, so I don’t think that that might be. And

9 actually, what you disclosed in these proceedings, it’s

10 the report done by Levitskaya, and I assume she

11 collected everything available.

12 Q. And, presumably, given that you seem to be uncertain as

13 to what has happened to these companies, presumably you

14 would welcome the chance to gain some further

15 information about —

16 A. Of course. Of course, and we made a number of enquiries

17 to your clients about that and hadn’t got any proper

18 explanations or replies on that.

19 Q. And presumably it follows that you would have no

20 objection, and you would positively support, an attempt

21 to approach V-Bank to see if they can explain or cast

22 any further light upon the status of Vyborg Port and

23 Port Equipment and/or any of their assets?

24 A. Yes, of course.

25 Q. So you would be happy for —

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1 A. For you to contact them and ask whatever information you 1 if necessary.
2 need, yes. 2 Dr Arkhangelsky, did you understand that? That if
3 Q. And for them to come back with the information? 3 there are any questions —
4 A. Yes, absolutely, yes. 4 A. Yes, sure, sure, sure, let’s go forward.
5 Q. Thank you. 5 Q. It’s right, isn’t it, Dr Arkhangelsky, that in these
6 A. I don’t have any rejections, but I should tell to 6 proceedings with the Bank of St Petersburg, you have
7 the court — 7 presented yourself as some sort of anti-corruption
8 Q. Thank you. 8 campaigner?
9 A. — that me, personally, I cannot do this. 9 A. Yes, of course.
10 Q. But we can take it that you would consent — 10 Q. Can we see {C1/1/6}, please. This is your 16th witness
11 A. Absolutely. 11 statement. At paragraph 16 you say:
12 Q. You would consent to the Bank of St Petersburg asking — 12 «I was of course aware of the difficulties of doing
13 A. Ask them about information, yes. 13 business in Russia and in particular the problems of
14 Q. I see. 14 corruption and the lack of an independent justice
15 That’s the end of that area. Can you please go 15 system. However, like many people at that time I was
16 to — and your consent would extend to any matters in 16 optimistic that with time things would change for the
17 relation to Akort, wouldn’t it? 17 better.»
18 A. Of course. Yes, yes. 18 Can you see that?
19 Q. And any potential liquidation of Akort? 19 A. Yes, sure.
20 A. Of course, yes. If it’s in liquidation, or? I haven’t 20 Q. Now, Dr Arkhangelsky, you were implicitly representing
21 heard anything — at least so far. 21 in that statement, weren’t you, that you had not been
22 Q. Any potential liquidation? 22 involved in that sort of corruption?
23 A. Anything. Anything. 23 A. No.
24 Q. That’s very helpful, Dr Arkhangelsky, thank you for 24 Q. Could you be shown, please {G2/34/2}. This is your
25 that. 25 third affidavit in these proceedings, and if you go,
153 155

1 Could you go, please, in your witness statement to

2 {C1/1/63}.

3 A. Which paragraph?

4 Q. Paragraph 240(1). You entered into a marriage contract,

5 didn’t you, concerning property rights with your wife on

6 5 May 2009?

7 A. Yes, and I think I’ve been asked a lot about this issue

8 on my cross-examination under the freezing order.

9 Q. All I want to put to you is that when you say in

10 paragraph 240(1) that the marriage contract — sorry,

11 when you say that it is not true that that contract was

12 a sham and «only entered into to protect assets from my

13 creditors», can I put to you that you are not telling

14 the truth, then, and actually the purpose of that

15 marriage contract was to protect assets from creditors?

16 A. Absolutely not.

17 Q. Can I please ask you now about some references you have

18 made in these proceedings to the question of corruption.

19 A. Yes, please.

20 Q. And, again, my Lord, I don’t think there is a need for

21 a warning. I’m going to go to statements by the witness

22 in relation to corruption in Russia and his awareness of

23 it, but if at any stage there is any concern about the

24 answer, I want it to be clearly understood, the witness

25 should think about it and he should approach the bench

1 please, to paragraph 8, you have said this:

2 «This case, therefore, has very significant

3 political overtones. My campaign of protesting against

4 the persecution by the Bank, who has unlawfully captured

5 my businesses in Russia with the backing of

6 the authorities, has been publicly supported by the

7 leading Russian opposition figures and anti-corruption

8 campaigners, such as Lev Ponomaryov, Vladimir Bukovsky,

9 and Gary Kasparov.»

10 A. Yes, that’s true.

11 Q. «I am a co-founder of respected NGOs ‘International

12 Anti-Corruption Committee’ and ‘International Defence’.»

13 Can you see that?

14 A. Yes, yes. That was an NGO registered in London. I think

15 it’s been closed down this year, or

16 around January, December, something like that.

17 Q. We know from your evidence that the payments that you

18 made to officials, which you have talked about in these

19 proceedings, that you say that you have told no one else

20 about them at all?

21 A. Yes, that’s true.

22 Q. So it would follow that you —

23 A. Not officials, but we are speaking about one single

24 person.

25 Q. Yes, the payment of up to US $160 million that you claim

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1 to have paid?

2 A. Yes.

3 Q. And it must follow, must it not, from that, that you

4 have not told — you didn’t tell any of these people you

5 referred to in paragraph 8?

6 A. I have not told about that to anybody except to this

7 court on last Wednesday.

8 Q. You see, Dr Arkhangelsky, I suggest that by presenting

9 yourself in the way you do in paragraph 8 of this third

10 affidavit, you are representing to the English court,

11 when matters of credibility are coming to be determined,

12 that you have not been involved in any corruption.

13 A. The only case which I been involved, I described in

14 particular details, last Wednesday in this court.

15 Q. You accept that that was corrupt? Making those payments

16 was corrupt?

17 MR JUSTICE HILDYARD: Is this necessary?

18 MR LORD: Well, I need to be able to go through the rest of

19 the entries because, my Lord — don’t answer the

20 question, Dr Arkhangelsky.

21 My Lord, this witness has presented himself in

22 a certain way to this court and there are credibility

23 issues and there are issues particularly going to

24 the matters he is here talking about. So establishing

25 the falsity of those may involve asking the witness that

1 So the people who established this NGO, first of

2 all, they were aware about how to do business in Russia,

3 and the target of this NGO was also disseminating

4 information available to us, which definitely could be

5 disseminated at any stage; and, for example,

6 Sergei Kalesnikov, who is co-founder, he became very

7 well known after his articles in Financial Times and

8 Washington Post and major international newspapers,

9 about corruption schemes he organised for Mr Putin

10 personally.

11 MR JUSTICE HILDYARD: My understanding of what you have told

12 me — and I think I have said this before, but correct

13 me if I am wrong or say you don’t want to answer if you

14 don’t. My understanding is that your evidence is that

15 corruption, especially in big business, is endemic in

16 Russia. There is a lot of it, in other words.

17 A. Of course. Of course.

18 MR JUSTICE HILDYARD: Yes. Secondly, that in order to get

19 ahead in business in Russia, it is well known that you

20 have to enter into consultancy agreements and the like.

21 A. Yes.

22 MR JUSTICE HILDYARD: Often, or sometimes, with public

23 officials.

24 A. Yes.

25 MR JUSTICE HILDYARD: It does not follow from that, as

157 159
1 question. But I am in your Lordship’s hands. 1 I understand it, that you approve of these ways of doing
2 MR JUSTICE HILDYARD: Well, the witness has disavowed any 2 things —
3 implication. You say it follows, and may, no doubt, 3 A. Absolutely.
4 elaborate that in submission. I should, I think, 4 MR JUSTICE HILDYARD: — even if you recognise the reality
5 acknowledge for myself that I did not read that 5 whilst in Russia.
6 implication. 6 A. Yes.
7 MR LORD: Very well. 7 MR JUSTICE HILDYARD: That is my understanding.
8 Would it be quicker if I put the various references, 8 A. Yes, and actually just maybe to finalise that, the major
9 one after the other, and then I ask just one or two 9 reason why I had to do this, because these projects,
10 questions to tidy up? 10 they had some history behind, and, you know, these
11 MR JUSTICE HILDYARD: All right, but tread carefully, 11 consultancy agreements was kind of additional conditions
12 please. 12 of the acquisitions and for future history of
13 MR LORD: Could you please be shown {M1/29.1/3}, please? 13 the project, so — for future of this project. So you
14 A. I’m sorry, may I just refer to that question, which 14 cannot just escape out of that, you know, if …
15 might be of some importance? 15 MR JUSTICE HILDYARD: Well, I don’t want you to say more
16 MR JUSTICE HILDYARD: Yes. 16 than you should or need, so I feel anxious about that,
17 A. Indeed, we established in London something like three or 17 but I understand what you have told me.
18 four years ago this NGO, and one of the co-founders of 18 MR LORD: Could you be shown, please, {M1/5/1}, which is
19 this NGO, together with me, was also 19 a witness statement filed by Mr Gorchakov on behalf of
20 Mr Sergei Kalesnikov. He is quite a famous person in 20 the defendants in the BVI.
21 London and the United States because he was a kind of 21 A. Sorry. Gorchakov on defendants? No, the claimants.
22 financial director of Putin’s financial holding, and it 22 Q. Yes, but in this case, I think they were the —
23 has been widely discussed how he organised corruption 23 A. So he was — I think it’s a lawyer of the Bank.
24 schemes for financing Putin — construction of Putin’s 24 MR JUSTICE HILDYARD: You were claimants in the BVI.
25 residences and so on. 25 A. Yes, yes, yes.
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1 MR LORD: Yes, it’s my fault, that’s what I was trying to

2 pick up. Sorry, Dr Arkhangelsky. On behalf of

3 the Bank, yes.

4 If you could go, please, to {M1/5/6}. Actually, go

5 back a page {M1/5/5}. Or two. {M1/5/4}. Another page,

6 sorry. {M1/5/3}. And back {M1/5/2}.

7 In paragraph 4, Mr Gorchakov gives some evidence

8 about what he describes as:

9 «Misleading publicity created by Mr Arkhangelsky

10 prior to the Return Date.»

11 Can you see that?

12 A. Yes.

13 Q. Can you see in paragraph 4 there is reference to

14 an interview, a radio interview, which apparently you

15 gave or took part in on 23 November 2011?

16 A. Yes.

17 Q. And there is a recording of the interview which

18 apparently can be found at that link; can you see that?

19 A. Yes.

20 Q. The recording is entitled «The British Court Studies

21 Russian Mafia»?

22 A. Yes, that’s true.

23 Q. Is it right that you gave, or took part in, a radio

24 interview?

25 A. Yes, I’ve taken a part of a radio interview. This radio

1 A. Yes, that’s true. Yes.

2 Q. You can see what you say in the last sentence:

3 «I deny absolutely allegations of corruption.»

4 A. Yes, absolutely, yes.

5 Q. Do you want to revise that piece of evidence in

6 the light of the payments last week —

7 A. No.

8 Q. — that you referred to?

9 A. No, that was one exception which we discussed and the

10 court knows about that.

11 Q. Could you be shown {M1/25/8}.

12 A. Which paragraph?

13 Q. {M1/25/7}, sorry, paragraph 19. It’s your second

14 affidavit in the BVI, and paragraph 19, you refer to

15 Mr Piotrovsky.

16 A. Yes.

17 Q. And you refer to the alleged suggestion that you should

18 pay some money for security.

19 A. Yes.

20 Q. And you end up by saying:

21 «I was not prepared to pay a corrupt bureaucrat.»

22 A. Absolutely.

23 Q. Again, that’s stated in very absolute terms,

24 Dr Arkhangelsky; do you want to revise that sentence in

25 the light of what you said last week?

161

1 interview been discussed in the court in the BVI and

2 they have not found anything against this.

3 Q. Can you go on, please, to {M1/5/6}. This affidavit sets

4 out various extracts from that interview.

5 A. Yes, which paragraph you want me to read?

6 Q. Paragraph 11. And the reference, apparently, the

7 comment by you apparently, where you say «They» — so

8 look at the context and remind yourself of the question

9 and answer with the interviewer; can you see that?

10 A. Yes, I’m not sure it’s a correct translation but …

11 Q. Are you happy that that is a record of what you said in

12 that interview?

13 A. It’s a kind of inaccurate translation, yes, that’s true.

14 Q. Why is it wrong? What’s wrong with it, do you think?

15 A. No, I think it’s simply an inaccurate translation and

16 that was discussed in BVI, so …

17 Q. I see. Could you please be shown {M1/29.1/3}, because

18 this is your affidavit in response. If you look at

19 paragraph 7 —

20 A. Yes.

21 Q. — you refer to paragraph 11 of Mr Gorchakov’s witness

22 statement, I think you mean affidavit.

23 A. Yes.

24 Q. If you just want to read it to yourself, please, and

25 then I will put a question to you. (Pause)

163

1 A. No.

2 Q. No. Thank you.

3 A. And here I think anyway you are referring to year 2006,

4 yes, events? Just in case?

5 Q. Dr Arkhangelsky, you have said repeatedly in these

6 proceedings that you are impecunious and can’t afford to

7 pay for lawyers, haven’t you?

8 A. Absolutely.

9 Q. I asked you last week about the various transactions

10 involving City Centre; do you remember those questions?

11 A. Of course, yes.

12 Q. And the amounts concerned were RUB 840 million in

13 relation to Scan Insurance; RUB~950 million for

14 LPK Scan, and RUB 225 million for PetroLes?

15 A. Yes, maybe, what we discussed last week, yes, or last

16 day.

17 Q. Yes, and that comes to just over RUB 2 billion?

18 A. Yes, in mathematics you are correct.

19 Q. Which would be approximately US $80 million at

20 2008 exchange rates of roughly RUB 25 to the dollar?

21 A. Yes, let’s assume that.

22 Q. I think I put it to you, and if I didn’t, I will put it

23 to you again, that the most likely explanation for those

24 entries is that those monies, totalling $80 million,

25 were transferred to or for your benefit or that of your

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1 wife.

2 A. You mean that I am the owner of this money?

3 Q. That money has gone to or for your benefit via those

4 City Centre transactions?

5 A. Absolutely not. I would be happy to have this money,

6 you know, I would not be not represented in this case.

7 Q. And I have asked you some questions today about

8 Vyborg Port and Port Equipment.

9 A. Yes.

10 Q. And you have given your evidence as to the value of

11 those companies and of the shareholdings in them; do you

12 remember those?

13 A. Yes.

14 Q. On your case those shareholdings are worth several

15 hundred million dollars?

16 A. I give a figure about €350 million, yes, something like

17 that, today.

18 Q. And I think I put to you that those are companies that

19 you still control and have an interest in.

20 A. Absolutely not.

21 Q. And I put to you, Dr Arkhangelsky, in those

22 circumstances, that you are not, as you have presented

23 to this court, impecunious, and you have had substantial

24 financial resources available to you throughout this

25 litigation?

1 protect the money that you still have.

2 A. Absolutely not.

3 Q. In other words, you are hanging onto the money you have,

4 and you have made this huge counterclaim to hang over

5 the Bank, to try to cause the Bank to go away; isn’t

6 that right?

7 A. Absolutely not, and I can give you argument; that it’s

8 me who started proceedings in Cyprus, and in Cyprus the

9 Bank even didn’t want to reply to the proceedings. So

10 in case we were not succeeding to obtain jurisdiction in

11 BVI, we would get ex parte decision in Cyprus. In

12 Cyprus, Bank didn’t even replied to our enquiry, and by

13 that time there were no any jurisdiction by the Bank to

14 go abroad, first of all, even let’s say, assuming if

15 I have billions, as you claim, Bank haven’t had a chance

16 to do anything.

17 So I didn’t need to defend anything. I just

18 understood that I lost everything, no chance to struggle

19 in the Russian courts, so I, with the advice of

20 Mr Ameli, he contacted me with Bristows, and after

21 hearing my story, Bristows suggested that we have to go

22 and get a freezing order — a freezing order and Norwich

23 pharmaceutical relief from BVI, which we got, and get

24 money out of the Bank.

25 Q. Can you explain to his Lordship: really, what the

165 167

1 A. Absolutely not, but could you be so kind as to show me

2 these resources, or maybe the Bank could borrow some

3 money backed by that resources. I would be very much

4 happy. Can your clients advance me that money in return

5 to the resources I do have.

6 Q. And you have presented yourself as impecunious?

7 A. Yes, that’s true.

8 Q. And you have presented yourself as impecunious in order

9 to avoid questions as to where your money has come from

10 to pay for lawyers?

11 A. Absolutely not.

12 Q. Because you were concerned that that would lead to

13 a train of enquiry that would show monies that had been

14 enjoyed by you or that were available to you, that you

15 did not want otherwise to reveal?

16 A. Absolutely not. And I can give you one explanation:

17 having had any money, I would be continuing my BVI

18 successful operations — I mean trial, BVI trial, where

19 I had a freezing order, and I think even considering

20 that BVI not probably the best jurisdiction, but I think

21 by this time I already could have all the money which

22 your client stolen from me.

23 Q. I don’t accept that, Dr Arkhangelsky, because in my

24 submission, your claims against the Bank have been

25 designed to keep the Bank on the defensive, so that you

1 business purpose is of CoFrance?

2 A. Yes, it’s what you call it in France, administrative

3 assistance. I give advice to people how to move to

4 France, I mean it’s generally people originating from

5 ex-Soviet Union, how to move in France, how to establish

6 themselves in France, and I also managed to confirm my

7 education in France, so I got a licence as an insurance

8 broker, as a banking broker, and as a tax and investment

9 consultant. So I got three major licences based on my

10 education — international education. So that’s the

11 business of CoFrance.

12 So I sell insurance policies, I help people to

13 obtain loans for purchasing of real estate, and give

14 advice based on licences like financial licence and tax

15 advice licence.

16 Q. Do you speak French, Dr Arkhangelsky?

17 A. I can understand some, yes.

18 Q. Sufficiently well to be able to carry out those

19 businesses that you just described in France?

20 A. I got the confirmation of my education because French

21 licence means that I got education in Europe, which are

22 allowed to get this licence, for sure.

23 Q. And amongst some of the services that CoFrance offers

24 appears to be help with representation in courts; isn’t

25 that right?

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February 24, 2016 Day 16 — Redacted

1 A. You know, it’s kind of a general promo. CoFrance itself

2 is not authorised to be represented to the court.

3 Q. Can you have {I19/19/17.39}, please, on the screen?

4 A. Yes.

5 Q. Dr Arkhangelsky, this is an extract, I think, from the

6 CoFrance website?

7 A. Yes.

8 Q. Are you familiar with this extract?

9 A. Yes.

10 Q. It’s entitled:

11 «How to save yourself from extradition from Europe.

12 «What awaits a Russian borrower who has gone

13 abroad.»

14 A. Yes.

15 Q. The article says:

16 «Have you borrowed money in Russia and gone abroad?

17 «I present you an article describing the defence

18 mechanism for a Russian borrower in Europe.»

19 Can you see that?

20 A. Yes.

21 Q. Can his Lordship take it that this is a service that

22 CoFrance provides: advising Russian borrowers who have

23 gone abroad as to these defence mechanisms; can you just

24 confirm that’s the case, please?

25 A. I’m sharing my experience and I’m happy to share my

1 Dr Arkhangelsky, can you see the document?

2 A. Yes.

3 Q. Can you tell his Lordship what that is in your own

4 words, please?

5 A. Just a moment, I’ll read that.

6 Q. You can scroll, if you like, you can see the Russian.

7 Can we scroll on down, please, and then we’ll come back

8 to the beginning of it.

9 Do we have a hard copy for his Lordship? No.

10 A. I think it’s a press release done by Natalya Khmelik,

11 our — what is written here, Natalya Khmelik, our press

12 officer.

13 Q. And she is Mr Stroilov’s mother, isn’t she?

14 A. I don’t know her relation so you had better ask him.

15 I assume so, but I know, your Lordship, that as long as

16 Mr Stroilov is also a political refugee, he wanted to

17 keep his privacy and confidentiality, so …

18 Q. Right, so it is a press release done on your behalf, is

19 it?

20 A. It’s done by her, yes.

21 Q. On your behalf?

22 A. It’s done by — so we agreed that she would be kind of

23 my non-paid assistance — assistant, who would be

24 producing releases, because she’s a quite famous Russian

25 and international journalist, so she knows how it works,

169 171

1 experience of all my legal and criminal cases with

2 people who might be interested, and I’m happy if people

3 are paying to me because I need money to survive.

4 Q. Can I ask you, please, the final few questions —

5 MR JUSTICE HILDYARD: May I just ask, do your customers or

6 clients usually speak French?

7 A. No, no, I’m speaking only to — I normally deal only

8 with Russian-speaking clients.

9 MR JUSTICE HILDYARD: Thank you.

10 MR LORD: Dr Arkhangelsky, it is right, isn’t it, that in

11 this dispute with the Bank of St Petersburg —

12 A. Sorry, can you repeat?

13 Q. It’s right that in this dispute with the

14 Bank of St Petersburg you have sought to portray

15 yourself as a political victim?

16 A. Of course I am a political victim, that’s the fact, well

17 known, in Russia at least. And France.

18 Q. And you have tried, haven’t you, to turn this dispute

19 with the Bank of St Petersburg into something of

20 a political show trial?

21 A. Absolutely no.

22 Q. Could you be shown, please, {Q/1/8/231}, please.

23 Sorry, it is my fault. {Q/1/1/8}, my fault.

24 Your Lordship will find in the Q part of Magnum a run of

25 similar material.

1 and it’s her who produced this document.

2 Q. And it’s done with your authority, then, is it,

3 Dr Arkhangelsky? You approve of this?

4 A. We agreed that I don’t intervene in what she’s writing,

5 not to be claimed that it’s me or anybody else.

6 Q. And what’s the purpose behind this sort of material?

7 A. We — she does on a regular basis press releases just to

8 give to the public information about what is going on

9 from her point of view as a professional journalist in

10 these proceedings, as long as your clients avoid any

11 publicity, or any normal publicity.

12 Q. And what’s the — what is the point of having that sort

13 of cartoon?

14 A. But what’s the problem with the cartoon?

15 Q. Can you see what’s said, the translation:

16 «Will Mama Valya duck the questions in court?»

17 Can you see that?

18 A. Yes.

19 Q. Mrs Matvienko was never going to be a witness in these

20 proceedings, was she?

21 A. I don’t know, but I think it was discussed, at least in

22 2014, by your Lordship that you may bring her as a —

23 you may ask her to be a witness. And what is the most

24 important thing from my point of view, in case — in

25 case of anybody claim about such type of corruption

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February 24, 2016 Day 16 — Redacted

1 issue between bank and Matvienko, first of all in

2 the normal world, Matvienko would step down from her

3 position and she would be a witness in such type of

4 a proceedings.

5 Q. Can you go, please, to —

6 A. So, that’s the normal practice, that in case she

7 disagree with such type of acquisition, so she would

8 become a witness in such type of proceedings,

9 considering her personal interest in the Bank.

10 Q. And could you scroll down to the next page, please

11 {Q/1/9}. It looks like there has been a posting by you,

12 Dr Arkhangelsky. Is that your posting which you made on

13 29 January 2016?

14 A. Yes.

15 Q. And that’s what you said, is it?

16 A. Yes, I’m absolutely believing that, because she spoiled

17 my family, she spoiled my life, and I believe that I’m

18 absolutely right.

19 Q. And could we have, please {Q/1.1/3}, please.

20 A. Yes.

21 Q. If we go back, please, two pages, {Q/1.1/1}, please, and

22 pick up the post. It’s 21 February 2016.

23 A. Yes.

24 Q. Is this a post by you on Facebook, Dr Arkhangelsky?

25 A. I just shared some other posts, yes.

1 escaped from Russia and lives in New York now. I keep

2 close contact with him. We are personal friends, so we

3 meet from time to time, and he published this article.

4 So I think he is responsible for what he is saying, and

5 he is authority for quite a number of Russian people

6 and, let’s say, most advanced people they are following

7 this. So I cannot see any negative things.

8 MR JUSTICE HILDYARD: Mr Lord, obviously, there always has

9 to be light relief in a case, but beyond repeating that

10 it is important for all concerned that they should not

11 comment on this case in the media, it being sub judice,

12 are these cartoons or anything going to help me decide

13 the issues?

14 MR LORD: Your Lordship is going to have to consider the

15 credibility of various, quite serious allegations made

16 as to political influence in this case, and it will be

17 relevant to test those allegations by reference to how

18 they may potentially be being put and deployed in and

19 about this dispute.

20 MR JUSTICE HILDYARD: So I must simply await your closing

21 submissions to draw in the threads of these various,

22 slightly unsatisfactory, web reports.

23 MR LORD: I haven’t finished my question. I wonder if

24 I could finish my question, Dr Arkhangelsky, and then —

25 A. I’m sorry, your Lordship, could I just also comment on

173

1 Q. Could you scroll on, please, to the second page.

2 {Q/1.1/2}. That’s the Russian.

3 Could you scroll on again, please {Q/1.1/3}.

4 A. Yes.

5 Q. Could you just confirm that those are posts which have

6 appeared on this Facebook site on 21 February 2016?

7 A. This is a post from kremlin-pu.livejournal.com, which

8 been shared on Facebook by Mr Pasko, and I just shared

9 his post. And I think they are referring to another —

10 inside there is another article published by one of

11 the major Russian newspaper.

12 Q. Can I show you, please, a letter you wrote to

13 Mrs Matvienko back in 2008 — it might be 2009,

14 actually. {D116/1717.2/1}

15 A. By the way, your Lordship, just about this — can you

16 please return back {Q/1.1/3}.

17 Yes. So this article which been posted or shared,

18 this article came from Gary Kasparov’s personal website.

19 It’s Gary Kasparov, famous world champion chess player.

20 MR JUSTICE HILDYARD: Yes.

21 A. So he published this article. It was widely

22 re-published so I put the post on here.

23 MR JUSTICE HILDYARD: Saying you liked it?

24 A. Of course, you know, for me he is the most famous

25 Russian politician, he is one of the politicians who

175

1 the previous ones. Referring to what you said, I think

2 it was in the middle of February, since that time

3 I don’t comment anything.

4 MR JUSTICE HILDYARD: Right.

5 A. And I’m just following your advice.

6 MR JUSTICE HILDYARD: Yes.

7 A. But, you know, if any articles appears in the press,

8 especially —

9 MR JUSTICE HILDYARD: You don’t have control over those.

10 We had better go to D116 —

11 A. No, no, what is important — no, what I mean, I don’t

12 have a control of that, but if article is published,

13 I think it’s good, and I cannot see any danger in

14 sharing these articles, because people are following.

15 Your Lordship, I have 1.5 million followers on my

16 Facebook, so people are really interested in what is

17 going on and interested in my story, and I think — I am

18 very correctly following your advice, and I don’t think

19 anything I done wrongly in these proceedings.

20 MR JUSTICE HILDYARD: Okay. D116-something you were going

21 to take us to.

22 MR LORD: {D116/1717.2/1} in the English and {D116/1717.2/2}

23 in the Russian.

24 A. Is it a draft, or what is it?

25 Q. I think it has come from your disclosure,

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1 Dr Arkhangelsky. It is a letter, isn’t it — 1 in May 2014 about Matvienko and so on, so I know that
2 MR JUSTICE HILDYARD: 2009. 2 Mr Pasko written several letters to Matvienko to ask her
3 MR LORD: It’s actually 27 March 2009, I think? 3 opinion of what is going on and if she would be
4 A. Yes. 4 considering a party — to be a party in these
5 Q. And it is a letter from you to Mrs Matvienko, the 5 proceedings or just show any position. So she ignored
6 Governor of St Petersburg at that time. 6 him and never, ever replied to any official enquiries.
7 A. Yes, yes, yes. It was a well known fact by that time 7 Normally, if journalist sends something to the head
8 and now that Matvienko is the major, at least, 8 of the higher chamber of Parliament, who is she now,
9 beneficiary owner of the Bank of St Petersburg. By that 9 normally it should be somehow — she should reply at
10 time considering that something is going wrong with 10 least something, so that’s based on the law on
11 Mr Savelyev, and he is well known to be not a real owner 11 journalism in Russia, on the media law.
12 but just a nominal owner, so I decided to approach 12 Q. Can I please take you to {C1/1/14}, paragraph 55. You
13 Matvienko and to tell her that something is going wrong. 13 allege:
14 Q. It is right, isn’t it, that in March 2009, you were 14 «That the Bank [of St Petersburg] was able to use
15 approaching Mrs Matvienko to help; that’s right, isn’t 15 the security services to assist it …»
16 it? 16 Can you see that?
17 A. I was approaching Ms Matvienko to tell to Savelyev how 17 A. Sorry, which paragraph?
18 he should behave. 18 Q. Paragraph 55.
19 Q. And subsequently you have seen fit to accuse 19 A. Of course, yes.
20 Bank of St Petersburg, haven’t you, of very serious 20 Q. And I suggest that that’s not the case.
21 matters involving Mrs Matvienko? 21 A. It’s the case, yes.
22 A. Sorry, I didn’t understand the question. 22 Q. And in {C1/1/18}, paragraph 69, you allege that the
23 Q. Well, since March 2009, you have alleged a conspiracy by 23 Bank of St Petersburg has an:
24 the Bank of St Petersburg, haven’t you? 24 «… ability to manipulate the law enforcement
25 A. Of course, yes, and after signing — after sending her 25 authorities in St Petersburg…»
177 179

1 this letter, I’m absolutely sure that she’s well aware.

2 So it’s not just the initiative of Mr Savelyev, but she

3 is well aware of what’s happened and she benefited out

4 of this.

5 And for St Petersburg, OMG group was one of

6 the major corporations in the area, so it was very, very

7 big case, and very big raid attack.

8 Q. And Mrs Matvienko’s son only held a small shareholding

9 in Bank of St Petersburg, didn’t he?

10 A. As far as I understood; now it’s her husband who holds

11 a share in the Bank. What we got from the public

12 sources.

13 Q. Can I suggest that what you have done here,

14 Dr Arkhangelsky, is tried to politicise this banking

15 dispute for your own ends?

16 A. Absolutely not.

17 Q. And you have done that to try to cause embarrassment and

18 reputational damage to Bank of St Petersburg?

19 A. Absolutely not.

20 Q. And you have sought to do that by dragging them into

21 some sort of political campaign that you have waged?

22 A. Absolutely not, and what I should tell to your Lordship,

23 that the Bank and Matvienko, they don’t care at all

24 about any reputation or any damage or anything. I know

25 that Mr Pasko, after your words, I think it was

1 A. Yes, that’s absolutely true.

2 Q. I suggest that that is not true.

3 A. No, it’s a deceived statement by you.

4 Q. And I suggest, Dr Arkhangelsky, that there is no basis

5 at all for your allegations against

6 Bank of St Petersburg.

7 A. Absolutely not.

8 Q. Can I hand in, please, something that appeared earlier

9 this week. (Handed)

10 A. Yes.

11 Q. This article, for the transcript, says:

12 «The London court heard of a $160 million bribe paid

13 to the head of Rosmorekflot, Dmitrienko.»

14 Can you see this, Dr Arkhangelsky?

15 A. Yes.

16 Q. Do you recognise this article?

17 A. No, I seen that on internet, for sure, yes, but I have

18 not been a party to this. I’m doing cross-examination

19 and I’m not speaking to anybody about the proceedings.

20 Q. And in the first paragraph, where it says:

21 «At the London High Court, businessman

22 Vitaly Arkhangelsky spoke about bribing the former Head

23 of the Federal Agency for Marine and River Transport,

24 Dmitry Dmitrienko.»

25 A. Yes.

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February 24, 2016 Day 16 — Redacted

1 Q. «The business news agency received this information on 1 MR LORD: Or in the opening, I think it is fair to say.
2 Monday at the businessman’s office.» 2 MR JUSTICE HILDYARD: Well, the openings were quite
3 A. Yes, it might be. 3 truncated.
4 Q. That seems to be a reference to your office, doesn’t it, 4 MR LORD: I suppose so. Yes, well.
5 Dr — 5 MR JUSTICE HILDYARD: I’m not sure we had one, in fact,
6 A. I assume it’s a reference to the press office which is 6 from …
7 run by Natalya Khmelik, which I just told you a few 7 Yes, well, I will allow it in because otherwise we
8 minutes ago. 8 will forever be wondering, but we will watch that, and
9 Q. And if you look over the page to the second page, you 9 then we will have another break for you to gather
10 can see in the top paragraph, the last sentence, it says 10 yourself and make sure that you have got —
11 this: 11 MR ARKHANGELSKY: Not really I need that, so I just want to
12 «Arkhangelsky took this in stride as this was the 12 put some few points.
13 usual way of doing business in Russia —» 13 MR JUSTICE HILDYARD: Yes, well I will probably need a break
14 A. I just read the Russian version first. (Pause) 14 for ten minutes or so.
15 Q. » … explained the businessman’s representatives to 15 Shall we have five or ten minutes now to enable
16 B&A.» 16 everyone to get the …
17 A. Sorry, I just need to read the Russian version. 17 MR ARKHANGELSKY: Yes, and I will check that everything is
18 So it’s just — you are referring to which …? 18 prepared.
19 Q. It’s the last sentence of the third-to-last paragraph. 19 MR JUSTICE HILDYARD: Mr Lord, although you have concluded
20 A. It’s somebody insinuating on what’s been told by press 20 your cross-examination on other parts, if you have
21 office, I’d assume. I don’t know what’s going on here. 21 questions as to this, then you must be as free as ever
22 Q. But can you explain how the person you just identified, 22 you were to ask, since you have not, I think, been
23 how she got this information? 23 educated in the way that I understand we are to be
24 A. I don’t know. 24 educated shortly. Thank you.
25 Q. Was it from you? 25 (2.55 pm)
181 183
1 A. Not from me. I haven’t been speaking to anybody during 1 (A short break)
2 this cross-examination. 2 (3.06 pm)
3 MR LORD: My Lord, I’m sorry to have gone over, but that 3 Presentation by DR ARKHANGELSKY
4 concludes my cross-examination. 4 MR LORD: My Lord, the only point I would make, just to
5 MR JUSTICE HILDYARD: Well, not at all, you have covered 5 establish whether this has been disclosed: there are
6 a very, very considerable amount of material very 6 a number of videos that have been uploaded. We are
7 efficiently, Mr Lord. 7 trying to sort of keep track of them. I think one was
8 Various things have been handed up. In due course 8 disclosed fairly recently by Withers, or came from
9 you had better — 9 Withers, so I am just checking that anything your
10 MR LORD: We will give them Magnum references and make sure 10 Lordship sees, we identify the provenance of it very
11 your Lordship has the reference. 11 precisely in terms of what it is and when it was
12 MR JUSTICE HILDYARD: Yes. Good. 12 disclosed, by which party, please.
13 Well, now the prescribed sequence was that we should 13 MR ARKHANGELSKY: Can I start?
14 have a little bit of a break and then we are going to 14 MR JUSTICE HILDYARD: Yes, you understand that, that —
15 watch the video; is that right? Do you know how we are 15 MR ARKHANGELSKY: Yes, I just want to explain this. So
16 going to watch the video; will it be on our screens? 16 unfortunately I’m not allowed to discuss this with
17 MR ARKHANGELSKY: We organised everything, yes. 17 anybody while I have a cross-examination. But
18 MR JUSTICE HILDYARD: And these videos were disclosed to 18 definitely all these videos been disclosed by me to
19 the other side, were they? 19 Withers, and I believe that they given it proper
20 MR ARKHANGELSKY: Yes. Absolutely, yes. 20 disclosure. I think the numbers, whatever, could be
21 MR JUSTICE HILDYARD: Right. You didn’t think of exhibiting 21 obtained, let’s say, tomorrow, whatever, never. I think
22 them or especially alerting us to them in your witness 22 Mr Stroilov may find it.
23 statement; why was that? 23 So I’m not really sure if Mr Stroilov himself seen
24 MR ARKHANGELSKY: I don’t know. 24 these movies because he is extremely busy, and so on,
25 MR JUSTICE HILDYARD: Anyway, you didn’t. 25 but for sure I shown this movie to Withers, to Mr Milner
182 184
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February 24, 2016 Day 16 — Redacted

1 and to the counsel.

2 So the first video — so I’m absolutely sure that

3 everything been disclosed. What we found out a few days

4 ago, that they were not uploaded on Magnum, but it’s not

5 our fault. So there was something on Magnum, but

6 I think not in full.

7 This video, the first one, has been created by

8 a good company from Birmingham, I think the name was

9 something like M Consulting, so they made a study and

10 they made a movie. So it’s done roughly December 2007,

11 so if you are ready, I would ask to start playing. It’s

12 rather short, so we just need your full attention to

13 that. Yes please, start.

14 (Video played)

15 It’s a bit naive and too optimistic, but that’s how

16 it was. So that was the general presentation of

17 the group, and now it would be —

18 MR JUSTICE HILDYARD: Was that commissioned by — did you

19 commission that? Did you organise to have that film

20 made?

21 MR ARKHANGELSKY: Yes, of course, yes. We employed

22 a company in Birmingham, who —

23 MR JUSTICE HILDYARD: So it was a PR company, in fact?

24 MR ARKHANGELSKY: Kind of a presentation, because we had

25 a lot of international clients who never, ever been to

1 smart enough, they would see this movie first and remind

2 her.

3 So the business centre been constructed, finally

4 constructed I think in 2010 or the beginning of 2011,

5 because we generally constructed it by end of 2008, or

6 the beginning of 2009, and then because of all events,

7 it’s been laid down for one year, but then with the help

8 of V-Bank, we constructed that.

9 The picture where you have huge buildings, it’s the

10 Sestroretsk area, which we discussed belonged to Scan,

11 which — where we had a project of development then, so

12 the land been acquired by the Bank in September 2009.

13 And it was not actually — at that stage it was not

14 planned that it finished by 2009 or 2010, so it was

15 a longer lasting project.

16 So terminals, what you’ve seen, they’ve been

17 finished.

18 So what is good with the terminals, so you could see

19 how it was developed, so what been before, what work’s

20 been done, so we made the pictures at each and every

21 step, and then it was put on the video.

22 MR JUSTICE HILDYARD: Which were the Kalmars? Were they the

23 cranes, or …

24 MR ARKHANGELSKY: It’s a forklifter, but a huge size.

25 MR JUSTICE HILDYARD: I see.

185 187
1 Russia, never been to St Petersburg, so just to give 1 MR ARKHANGELSKY: I think you would see —
2 some very short time presentation. So … 2 MR JUSTICE HILDYARD: We didn’t see them?
3 MR JUSTICE HILDYARD: Yes, I couldn’t tell towards the end 3 MR ARKHANGELSKY: I am not sure if on presentation but
4 which of the buildings had actually been made and which 4 I think on some photos, which I will also show you, you
5 were computer mock-ups. 5 will see that.
6 MR ARKHANGELSKY: No, it was one mistake that the business 6 So that was the general presentation of the group as
7 centre on Rusiv, they told that it should be finished by 7 a whole group, by the end of 2007.
8 2007, but it had to be finished by 2008. 8 So now I want to show more precisely port projects,
9 MR JUSTICE HILDYARD: Right. 9 so it’s the — it’s done roughly middle of 2008, so
10 MR ARKHANGELSKY: But everything relating to the terminals, 10 let’s say half a year later, the second movie in respect
11 it’s real. 11 to the port projects.
12 MR JUSTICE HILDYARD: The other two buildings, which weren’t 12 MR JUSTICE HILDYARD: Same people?
13 actually at the terminals, they were projects but they 13 MR ARKHANGELSKY: Yes. Yes. You don’t have voice there,
14 were never made? 14 but you have English signs there.
15 MR ARKHANGELSKY: Rusiv business centre was finally 15 MR JUSTICE HILDYARD: I see.
16 constructed. The business centre, I think it was in the 16 MR ARKHANGELSKY: Can we please see the second movie.
17 beginning — 17 MR LORD: Sorry, my Lord, is there a Magnum reference for
18 MR JUSTICE HILDYARD: Yes, when you were walking around? 18 this, so that we can check and look at them later?
19 MR ARKHANGELSKY: No … 19 MR JUSTICE HILDYARD: How are we going to know where this
20 MR JUSTICE HILDYARD: Where were you having meetings and 20 is?
21 walking around? 21 MR ARKHANGELSKY: I need to speak to Mr Stroilov after this
22 MR ARKHANGELSKY: Sorry, sorry, meetings; it’s our 22 hearing, so …
23 headquarters on Mezhevoy Kanal, so there you could 23 MR JUSTICE HILDYARD: I’m sorry, I put a bad question.
24 notice all our green colours and all the questions asked 24 There are two issues: one is did you disclose these —
25 for Ms Patrakova, she couldn’t reply. So if they are 25 MR ARKHANGELSKY: Yes.
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1 MR JUSTICE HILDYARD: — and you are going to discuss with

2 Mr Stroilov and you are going to let us know and where

3 they are.

4 The other is, now that we have them on the Magnum

5 system, we need to be able to know where they are, so

6 I think that Mr Lord is simply saying that some

7 identifying mark must be attributed to these and

8 everyone must know where it is.

9 MR ARKHANGELSKY: It is not a question to me, I think.

10 MR JUSTICE HILDYARD: No, it is a general pronouncement.

11 MR ARKHANGELSKY: So this movie is OMG Ports, done roughly

12 in end of spring 2008.

13 MR JUSTICE HILDYARD: Right.

14 MR ARKHANGELSKY: Please switch it on.

15 (Video played)

16 This is done for specialist in shipping ports, just

17 to get the feeling how it works.

18 That’s how it was before. That’s how it looks now.

19 That’s our cars, corporate cars.

20 Mann Lines, shipping line from Sunderland to

21 St Petersburg.

22 MR JUSTICE HILDYARD: This is the ro-ro, is it?

23 MR ARKHANGELSKY: Ro-ro, yes. So we got first cars from

24 Nissan factory in Sunderland in United Kingdom.

25 The value of these cars at the terminal in each

1 mid-summer?

2 MR ARKHANGELSKY: Yes, I think so.

3 It’s Mann Lines from Sunderland, so they were

4 operating to both terminals, to Vyborg and to Onega.

5 MR JUSTICE HILDYARD: Were those cranes always there?

6 MR ARKHANGELSKY: No, these pictures here, it’s Vyborg Port,

7 so on this movie.

8 MR JUSTICE HILDYARD: I see.

9 MR ARKHANGELSKY: You will see probably later, but these

10 are — I think it’s Vyborg Port.

11 So that was the presentation of OMG Ports.

12 (Video stopped)

13 So probably in the next very short, I suggest — in

14 these proceedings we disclosed several hours’ of video,

15 which is connected to the raid on Western Terminal. So

16 I don’t know if you would like to see it later, because

17 it is rather bad quality, and, you know, it’s like made

18 from the pocket because police around and so on.

19 MR JUSTICE HILDYARD: Several hours sounds a little

20 daunting.

21 MR ARKHANGELSKY: Yes. What I suggest, I got today from my

22 friends who helped me, I got today by e-mail,

23 three minutes, just cuts of few things.

24 MR JUSTICE HILDYARD: Was this shortened version also

25 disclosed?

189 191

1 moment is €50 million.

2 MR JUSTICE HILDYARD: 50 or 15?

3 MR ARKHANGELSKY: 50. Here is a production process, what

4 we’ve been really doing. So this atomic radiation

5 controlled, because we — to cross the Russian border

6 you have to pass atomic control. That’s one of the most

7 important parts in there.

8 It’s very complicated production process because

9 there have to be safety and security on each and every

10 moment.

11 Expensive cars had to be stored inside the

12 buildings, like sports cars and luxury cars.

13 MR JUSTICE HILDYARD: Who do those trailers belong to; are

14 they yours or are they the people’s who are going to

15 sell the cars?

16 MR ARKHANGELSKY: These trailers, they are not ours, they

17 are the car distributors.

18 MR JUSTICE HILDYARD: The care distributors, yes.

19 MR ARKHANGELSKY: We were taking care only about terminal

20 and own terminal.

21 MR JUSTICE HILDYARD: Right.

22 MR ARKHANGELSKY: So this territory on the left-hand side,

23 it’s what belonged to LPK. It was part of Onega

24 Terminal but belonged to LPK.

25 MR JUSTICE HILDYARD: What time of year is this; is this

1 MR ARKHANGELSKY: I got it today. I mean, from these

2 several hours, we just taken small pieces, just for

3 today’s short presentation. Otherwise, let’s say full

4 version has been disclosed, and we just — just for you

5 to get a feeling what’s happened.

6 Can we have this from the new ones, just the first

7 slide, let’s put it this way.

8 So I just want to tell your Lordship that

9 I emigrated from St Petersburg the first days of June —

10 just a bit more. Yes.

11 So on Saturday, 8.00 in the morning, it happened,

12 police raid on Western Terminal. You remember that

13 we discussed yesterday that on three days after, I won

14 the court hearing in Russia to return the property

15 rights.

16 So, 8.00, on the weekend, in Russia for police it’s

17 not allowed to do anything unless its emergency actions.

18 So this is short cuts just for you that we understood

19 that at 8.00 in the morning, two representatives of

20 the Bank of St Petersburg, with support of riot police

21 and two security companies, taking over control. So you

22 would see the discussions and so that we realise at 8.00

23 new people taking over, so we were not allowed to come

24 there any more. So Saturday, 20 June, 8.00.

25 Can you please start? It’s very short, just to get

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February 24, 2016 Day 16 — Redacted

1 a feeling, and I think participants were not aware that

2 it’s somebody making a movie on mobile phone.

3 (Video played)

4 It’s very good voice recording behind, so

5 theoretically it could be possible to discuss. This is

6 the representatives of the Bank’s security company.

7 After noticing them moving, policeman disappeared.

8 So this is the police cars.

9 So on big movie, it’s a long-lasting discussion of

10 the rights and who is there and what for. So you see

11 the policeman, colonel, is very actively participating

12 in this.

13 We are outside and we are not allowed to come in.

14 So this is the …

15 MR JUSTICE HILDYARD: Who is that?

16 MR ARKHANGELSKY: It’s a representative of the Bank. Bank

17 brought two security companies with guns and they

18 blocked and brought the policeman just to pull us away.

19 Strong Russian faces. Strong Russian men.

20 This is a private car you see of the major

21 policeman, colonel, so you see he is really wealthy. So

22 that’s it.

23 (Video stopped)

24 Okay, so just if you can please make a slide show

25 of — it’s in WT January 2007. So we have photos of —

1 Terminal, and on the left-hand side you see that the

2 territory is not in use and you see the shape of that.

3 So it’s absolute swamp and garbage and so on. So that’s

4 what I wanted to really show you, how it was looking.

5 So you finished showing all of them; yes?

6 Okay. You can just look at one or two more and …

7 no, I think it’s good enough. So you got the feeling

8 that it’s a swamp and garbage.

9 MR JUSTICE HILDYARD: Yes.

10 MR ARKHANGELSKY: So now we go to the file called Lair

11 report, dated August 2008, and pages 32 to 35. So it’s

12 Lair report which been discussed here. It’s definitely

13 in the system.

14 MR JUSTICE HILDYARD: Is this a video?

15 MR ARKHANGELSKY: No, no, no, it’s just a report of Lair,

16 I just want to show you the pictures. By the way, these

17 pictures been used by the Bank valuation specialist, so

18 just —

19 MR JUSTICE HILDYARD: I see.

20 MR ARKHANGELSKY: So it’s Lair who made it.

21 MR JUSTICE HILDYARD: Are they in the report?

22 MR ARKHANGELSKY: Yes, of course, yes. They are in

23 the report, and the Bank’s valuation specialists on both

24 occasions, on GVA Sawyer report 2012, and at these

25 proceedings, they used — but you would see they used

193 195

1 we acquired the terminal something like in May 2007, and

2 in January 2007 it was a cargo loading on Western

3 Terminal, and it was — the photos was made by customs

4 authorities, because normally in Russia, to prevent

5 corruption — if it’s possible to make big pictures?

6 Yes.

7 So to prevent corruption, on each and every loading,

8 it’s a must to make a photo before the vessel is leaving

9 the port, just to see for the volume of cargo and so on.

10 So it’s a few pictures here, and what you would

11 notice, what is the bad shape of Western Terminal, and

12 you would see that it’s comparative — that it’s like

13 a swamp and not all the territory is used.

14 Could you please make a slide show?

15 MR JUSTICE HILDYARD: Are there many slides?

16 MR ARKHANGELSKY: No, just six, seven pictures, it’s very,

17 very fast. If you briefly go through, so what I want to

18 show, it’s a swamp, and you see the land there, the

19 cover of the land.

20 MR JUSTICE HILDYARD: Mm hmm.

21 MR ARKHANGELSKY: Yes, please go forward. It’s the vessel,

22 it shows the berths, and the blue building behind is the

23 office building which been just shown on the video.

24 Stop.

25 So you see all this is the territory of Western

1 the pictures, but not all of them.

2 Yes, pages from 32 to 35. The next one, yes

3 (page 33). So you see the pictures of Western Terminal,

4 I think it’s about August 2008. You can just scroll

5 down, I just want to —

6 MR JUSTICE HILDYARD: This is August 2008, is it?

7 MR ARKHANGELSKY: Report dated August, so I think it’s the

8 pictures done two months ago, before.

9 Can you scroll down a bit (page 34).

10 So these are the offices. You see the shape on the

11 territory, so on page number 34, the right lower corner,

12 you see the shape of the territory, so it is covered

13 with stable plates and so on, and you see that the

14 berths are also renovated and the offices. On the top

15 of the page you see how the offices were looking.

16 If you can scroll down to the next one (page 35), so

17 it’s also you see the shape of the territory.

18 MR JUSTICE HILDYARD: This is all before, is it?

19 MR ARKHANGELSKY: Sorry? No, no, it’s after, I think it’s

20 after the rain, and this is the bark. On top of

21 the cover it’s the bark.

22 MR JUSTICE HILDYARD: I see.

23 MR ARKHANGELSKY: Can we also see in the same folder, it’s

24 in Russian words, the document. In fact, it is one

25 picture, but on several pages. No, not this one.

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February 24, 2016 Day 16 — Redacted

1 But, okay, you can see this is the document received

2 30 April 2008 of creation of the customs control zone,

3 but it is just to … that’s an important improvement

4 there.

5 No, but it’s another one. Yes, this one. Can you

6 scroll down a bit.

7 MR JUSTICE HILDYARD: We are still in the Lair report, are

8 we?

9 MR ARKHANGELSKY: It’s Lair report — this document is the

10 business plan done by Lair on which basis actually

11 investment memorandum on Western Terminal been done.

12 If you can — in the name on top, it’s written the

13 number of the pages to be shown. In the name of

14 the file. I cannot see that. You see that now?

15 In this report it’s also the set of the pictures

16 done by Lair.

17 MR JUSTICE HILDYARD: Mm hmm.

18 MR ARKHANGELSKY: I assume in the middle of 2008. You

19 cannot find the pages?

20 MR JUSTICE HILDYARD: Is this in the Magnum system so that

21 I could look at it?

22 MR ARKHANGELSKY: There were just a few pictures that I —

23 yes, this one and a bit below. So you see, yes, this is

24 the most important, if you just scroll it. Yes.

25 So you see it is Lair who made a picture of

1 MR JUSTICE HILDYARD: Mm hmm.

2 MR ARKHANGELSKY: So that’s how this terminal was looking in

3 the middle, and you see it’s a nice and modern done

4 terminal.

5 Now if you can please show us OMG Ports

6 English April 2008. I think it’s probably the last one

7 I want to show you.

8 MR JUSTICE HILDYARD: You are really showing me those

9 pictures to show the hard standing?

10 MR ARKHANGELSKY: Sorry?

11 MR JUSTICE HILDYARD: To show the hard standing?

12 MR ARKHANGELSKY: Yes, yes, and you understand that to

13 transport these huge devices —

14 MR JUSTICE HILDYARD: — you have to have resilient ground.

15 MR ARKHANGELSKY: Yes, yes, yes. I think I have one more

16 final picture to show. No, not this one. OMG Ports

17 English April 2008.

18 Now, yes, if you can scroll to the second page, yes.

19 You see on the top of this —

20 So you see, this is the Western Terminal

21 presentation, and on the top you have this car which is

22 now red car with this huge —

23 MR JUSTICE HILDYARD: With this enormous great thing, yes.

24 MR ARKHANGELSKY: So all these figures — all these pictures

25 are from Western Terminal so you can see the quality

197 199

1 a railroad.

2 MR JUSTICE HILDYARD: The one at the bottom right?

3 MR ARKHANGELSKY: Yes, and based on our technology, you

4 would see it on the next document …

5 You know, what we done on Western Terminal, actually

6 at that time it was not in use, so we made like you

7 probably see in the cities, then it’s a tram line. So

8 we put in between baton plates, and so cars could go

9 around that.

10 So what I just want to say, that all these pictures

11 have been done by Lair and they’ve been used by the Bank

12 valuation specialist, even in 2015 and 2012. They have

13 not done their any own pictures.

14 MR JUSTICE HILDYARD: Mm hmm.

15 MR ARKHANGELSKY: So if you can please open OMG Ports

16 English April 2008.

17 If you can scroll a bit. Can you make it bigger?

18 So on the top of the page, it’s a collection of

19 the pictures of Western Terminal. They are not, let’s

20 say, that good — I mean not that big, but you can see

21 the quality of the cover of the territory, and that

22 these huge cisterns, what you normally call high and

23 heavy cargo, how it is transported; you see? On the

24 left-hand side it is a big car transporting this huge

25 device.

1 compared to the swamp I showed you in the very

2 beginning.

3 Then the last one, please. I think it is more or

4 less the same, but just to get the final feeling.

5 MR JUSTICE HILDYARD: This is May 2009?

6 MR ARKHANGELSKY: It is dated, I am not sure if it is done

7 by that time. Can you … yes. So it’s, again — can

8 you scroll a bit to see?

9 It’s, again, a bit different, but it is more or less

10 the same transportation of this high and heavy and big

11 pipelines. So that’s what I wanted to show to you.

12 MR JUSTICE HILDYARD: Yes, thank you.

13 MR ARKHANGELSKY: I think you got the feeling that it was

14 a quite well established industrial project, and well

15 operating terminals.

16 MR JUSTICE HILDYARD: Thank you.

17 Yes, well, Mr Lord, do you want to ask any

18 questions?

19 MR LORD: No, my Lord, I think I must reserve my position in

20 relation to this. I don’t know whether this has all

21 been disclosed, we are not sure if it has all been

22 disclosed, and therefore I think I must just reserve my

23 position at this stage in this regard. I don’t at this

24 stage want to ask any questions without knowing a little

25 bit more about some of these documents.

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1 We will also, my Lord, need to be told where we find 1 I was expecting you to show the full version, or at
2 them in the disclosure, and if they haven’t been 2 least some of that.
3 disclosed, what the explanation for that is, and also if 3 MR JUSTICE HILDYARD: All right.
4 there is further undisclosed material from these sorts 4 MR ARKHANGELSKY: So just to save court time, I just made
5 of archives, videos and footage and so on, then that 5 short cuts for you to understand that we have a full
6 should also be disclosed. 6 video of the raid, how it’s happened, who participated,
7 MR ARKHANGELSKY: No, nothing new to be disclosed, 7 when, and what people have been telling. So that’s for
8 everything been disclosed within the proper time, so the 8 the record.
9 only thing, probably, that have not been done, that 9 MR JUSTICE HILDYARD: Okay.
10 Mr Stroilov have not seen that himself, but he’s too 10 Yes.
11 busy. 11 MR LORD: My Lord, I would ask a direction that we do get
12 MR JUSTICE HILDYARD: All I’m worried about is we have 12 a statement about the disclosure; that we do have
13 Dr Arkhangelsky here now. Obviously I quite understand 13 a written statement that identifies where in
14 you need to check whether they’ve been disclosed. I do 14 the disclosure we find all that material so we can
15 not know what your position will be likely to be and you 15 identify it and we can establish that we have —
16 may not wish to tell me if they, or anyone one of them, 16 MR JUSTICE HILDYARD: Well, I’m not going to direct
17 has not been disclosed but … 17 a witness statement.
18 MR LORD: I’m slightly surprised they haven’t been — if 18 MR LORD: I didn’t ask for a witness statement; I asked for
19 there is undisclosed — I’m not saying there is, but if 19 something just in writing.
20 there was undisclosed material and it was going to be 20 MR JUSTICE HILDYARD: Something in writing, if that is what
21 played in court in this way, I do reserve my position 21 you mean —
22 fully in that regard. 22 MR LORD: That is what I asked.
23 This has obviously been prepared, this presentation. 23 MR JUSTICE HILDYARD: — I think that that should be done as
24 MR JUSTICE HILDYARD: Yes. 24 soon as possible. Who can do that for you?
25 MR LORD: And if there is material that I have seen for the 25 MR ARKHANGELSKY: Sorry?
201 203
1 first time in this presentation, then I fully reserve my 1 MR JUSTICE HILDYARD: When you have finished your
2 clients’ position. 2 cross-examination and you are, therefore, free to talk
3 MR JUSTICE HILDYARD: Right. 3 to Mr Stroilov and others, how long do you need to
4 MR ARKHANGELSKY: Your Lordship, for the avoidance of doubt, 4 identify in writing for the claimants where these things
5 in any respect, all these videos have been shown to all 5 are disclosed?
6 the banks, including Bank of St Petersburg, and to 6 MR ARKHANGELSKY: The only real person I can speak to is
7 Mr Savelyev and Guz and Volodina and everybody, so 7 Mr Stroilov, and I know that he is terribly ill, so
8 that’s for sure. 8 I think we need two or three days. But let’s say by
9 MR JUSTICE HILDYARD: That’s a rather different thing. 9 Monday, by your returning back to London, by Monday we
10 MR ARKHANGELSKY: No, no, just for your understanding also, 10 will do that.
11 so they’ve seen that for sure. 11 MR JUSTICE HILDYARD: I am sorry to hear he is ill.
12 MR JUSTICE HILDYARD: I understand that, but — 12 MR ARKHANGELSKY: He has a terrible cold, is what I heard.
13 MR ARKHANGELSKY: That been — for sure that’s been 13 MR JUSTICE HILDYARD: Right. Yes. Okay. But it is
14 disclosed. 14 important, because the court process can’t really
15 MR JUSTICE HILDYARD: The slide show, which was the extract 15 function properly unless there is an identified and
16 from many hours, and which you have caused to be put 16 finite body of evidence.
17 into a 3-minute synopsis, which arrived this morning or 17 MR ARKHANGELSKY: Absolutely. I understand that. What I am
18 yesterday, I can’t remember which. 18 telling is I simply don’t have it, hence all these
19 MR ARKHANGELSKY: Yes, yes. 19 statements —
20 MR JUSTICE HILDYARD: When did you ask for that to be done? 20 MR JUSTICE HILDYARD: I quite understand that.
21 MR ARKHANGELSKY: Oh, I asked for quite a while, because 21 MR ARKHANGELSKY: — and I have not been doing it myself.
22 I don’t pay for that, so a friend of mine he just 22 MR JUSTICE HILDYARD: I am just impressing on you that it is
23 created that. I’ve been happy enough to — not even to 23 necessary to be done.
24 show you, but the colleague from Magnum would confirm 24 Well, I am going to rise for 10 minutes, quarter of
25 that on Monday I brought, let’s say, a full version, so 25 an hour, and I may come in to collect various bits and
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February 24, 2016 Day 16 — Redacted

1 bobs.

2 MR ARKHANGELSKY: But would you allow me just for — maybe

3 afterwards to speak for 10 or 15 minutes?

4 MR JUSTICE HILDYARD: Yes, that is in lieu of

5 re-examination, and I may also have some questions.

6 MR ARKHANGELSKY: Yes, sure.

7 MR JUSTICE HILDYARD: Thank you.

8 (3.55 pm)

9 (A short break)

10 (4.12 pm)

11 Submissions by DR ARKHANGELSKY

12 MR JUSTICE HILDYARD: Yes. Dr Arkhangelsky, in these rather

13 unusual circumstances where you appear without

14 representation and without the benefit of Mr Stroilov,

15 I want you to feel that you have been afforded the

16 opportunity to put the points that you wanted to put

17 additionally, and which arise out of the

18 cross-examination which has taken place.

19 I assume that you have had access to

20 the transcripts; is that correct?

21 MR ARKHANGELSKY: Not really, it’s — internet in hotels are

22 terrible, so you cannot really … but no problem.

23 I just have a few points, just I simply don’t know if

24 it’s been clearly understood by everybody, just wanted

25 to give some, let’s say, maybe small, minor explanation,

1 MR ARKHANGELSKY: Yes, I think it’s at least need

2 corrections, let’s put it this way, I agree with you.

3 Can I start, please, {D1/5/3}, and I would like to

4 have the Russian and the English versions on both sides

5 {D1/5/1}. And can you please scroll also to the second

6 page, just in the very beginning {D1/5/4}. {D1/5/2}.

7 Now can we come back to the first page. {D1/5/3},

8 {D1/5/1}.

9 Please correct me if I am wrong. When this document

10 been shown to me on Friday, I’ve been told that this is

11 the document — this is exactly the document which been

12 filed by Mr Vasiliev in the court of St Petersburg on my

13 behalf. Is it true or not? Just to avoid doubts,

14 I just want to understand which documents you were

15 claiming. In the questions, I have been told that this

16 is the document which Mr Vasiliev filed in the court of

17 St Petersburg on my behalf.

18 MR JUSTICE HILDYARD: Well, we can’t have a sort question

19 and answer session. It’s not a quiz. It’s for you

20 to —

21 MR ARKHANGELSKY: No, no, I assume. I assume that I’ve been

22 told that it’s like this. So I want to tell to

23 the court that it’s not correct information, and there

24 are at least six reasons why this particular document

25 have not been filed in the court of St Petersburg.

205

1 and just want to show that Mr Lord was lying in

2 the court and misleading the court.

3 So I got the feeling that he was misleading the

4 court and that’s why I just want to return to a few

5 points and a maybe tell the moments which have not

6 been — which I was not in a position to tell at that

7 particular moment. I’ll try to be as brief as possible.

8 MR JUSTICE HILDYARD: It may be a language problem,

9 Dr Arkhangelsky, but I quite understand that there may

10 be points on which you disagree or where you feel that

11 Mr Lord has stated matters which you think require

12 correction. But lying is a wholly different matter,

13 which connotes someone knows that they are not telling

14 the truth, and that would be the most serious allegation

15 to make.

16 Counsel are there simply to put the points which

17 ultimately they will assemble in their claim against

18 you. They don’t have a personal interest in this beyond

19 their briefing, and it is, I think — I’m sorry to

20 labour this point in one sense, but I want to emphasise

21 it in another — I do not appreciate suggestions of

22 lying being made about the representatives of the other

23 side, and I very much hope that you will retract that

24 and confine yourself to matters in which you think

25 Mr Lord’s questions or assertions need correction.

207

1 First of all, maybe I will just give it for the

2 transcript and for your understanding, but I want it to

3 be in the transcript. First of all, if any document

4 filed in the court of St Petersburg, it has to be

5 a stamp of the court of St Petersburg with the number,

6 date, and who represents which party. We don’t have it

7 on this document. So what I claim, that this document

8 never been filed in the Bank of St Petersburg.

9 The second one, on the second page, if you can

10 scroll now to the second page, and in the English

11 version, yes {D1/5/4} {D1/5/2}, even in the translation,

12 you see that there are no any number and reference

13 number to the power of attorney; what I claim, that in

14 case the document filed with the court of St Petersburg,

15 it does not allow to have any writings by hand, so it

16 have to be clearly stated in printed version the number

17 of power of attorney, date of power of attorney, and in

18 whom — in which interest Mr Vasiliev is working. So

19 what I claim, that this is not the document which ever

20 been filed in the court of St Petersburg.

21 Mr Lord told that Mr Vasiliev on purpose — if now

22 we can return to the first page — on purpose made

23 a mistake in my address, and he said that it’s

24 Mr Vasiliev who has done that. I am absolutely sure

25 that this draft — so this is, anyway, this is the draft

206 208
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February 24, 2016 Day 16 — Redacted

1 document; it has been drafted by the lawyers of the Bank 1 MR JUSTICE HILDYARD: I think you told me — and the
2 of St Petersburg. That’s why you have my not correct 2 reference to the transcript, I think, is {Day12/101:1}
3 address. I assume that it could be easily also checked 3 and {Day12/122:1} to {Day12/124:25} that you had not
4 by the size of the letters and all other things, so it’s 4 seen this document, or certainly had not read this
5 not even copy-paste. This is the draft document made by 5 document until you were shown it during the course of
6 the Bank of St Petersburg, and I think they proved, or 6 your re-examination; is that correct?
7 pressed, Mr Vasiliev at some stage to sign this 7 MR ARKHANGELSKY: No, I’m not sure exactly.
8 document. Unfortunately, we don’t know in which 8 You see, as far as I remember, these documents been
9 capacity, if and when this document will have been filed 9 discussed in the Bulgarian proceedings, in French
10 in the court. We don’t have it — we have not been 10 proceedings.
11 shown this document. We don’t know in which capacity 11 MR JUSTICE HILDYARD: I see. So you had seen it before, but
12 and for which company Mr Vasiliev was operating. 12 you …
13 So suggestion done by Mr Lord that Mr Vasiliev was 13 MR ARKHANGELSKY: Let’s put it this way: most probably I’ve
14 representing me while showing this document is 14 seen, but at least I’ve been discussed with my lawyers
15 absolutely not true, and Mr Lord should be aware that in 15 the major points which been put to me by Mr Lord.
16 the proceedings in Bulgaria and France, it’s always been 16 So, once again, what I want to say, that this
17 claimed that Mr Vasiliev was not representing me in any 17 particular document, number {D1/5/3}, in this particular
18 of such proceedings. 18 form, never, ever been filed with the court of
19 I can just explain to your Lordship that in Russia 19 St Petersburg. So if Mr Lord wanted to discuss the
20 normally a lawyer obtains a written power of attorney 20 final version of that document — so I assume he had to
21 from, let’s say, he may represent formally — and as far 21 show me the final document which been filed in
22 as I understood Mr Vasiliev was an independent 22 the court.
23 advocate — he may have a power of attorney from, let’s 23 MR JUSTICE HILDYARD: Just so I know exactly what the
24 say, 50 or 100 companies or people involved. But it 24 position is with respect to this document, although this
25 doesn’t mean that he is not following guidelines and 25 won’t be as important as the points you have made, can
209 211

1 rules, and he — assumption of Mr Lord that Mr Vasiliev

2 can have a conflict of interest and represent in the

3 same proceedings parties which have a conflict of

4 interest.

5 So what I assume, and what I suggest here, that even

6 any other version of this document been filed — of this

7 draft ever been filed with the court, I suggest that

8 I never, ever been represented in these proceedings.

9 I’m not sure if it’s a language — my language made

10 it clear, so I just wanted to tell first that it’s not

11 the document been filed in the court. I assume it might

12 be some document similar.

13 The second thing, Mr Vasiliev was not representing

14 me. I assume in that proceedings he been representing

15 Vyborg Shipping Company, which by that time was already

16 belonging to the Bank of St Petersburg, and I assume

17 that this application to the court was drafted by the

18 same person who drafted initial application to the court

19 by the Bank; that’s why we have a mistake in my address,

20 and that’s why there are no any printed numbers of power

21 of attorney, because I assume at the moment they were

22 producing this draft, they were simply not knowing whom

23 from one, two, three, four parties Mr Vasiliev would be

24 representing and based on which power of attorney. So

25 that’s my first comment in respect to that document.

1 we go to {Day12/101:15-18} and you say there:

2 «He made it himself without any real knowledge on my

3 side. I think he had a power of attorney, so that’s why

4 he’s been representing myself.»

5 You have explained your position with respect to

6 those. But then you said:

7 «I have not been reading this document.»

8 I had misunderstood that to signify that you hadn’t

9 seen or read the document before you were asked

10 questions about it, but you had seen it before, had you?

11 MR ARKHANGELSKY: I’ve been seen — I think I — I’m not

12 sure if I seen this particular document. I may assume

13 I seen the final version of this document, which indeed

14 been filed in the court, because one of the most

15 important points here, that specially at the end of the

16 page, it is written whom particularly he is

17 representing.

18 MR JUSTICE HILDYARD: Right.

19 MR ARKHANGELSKY: And the fact — you know, I can give

20 a power of attorney to Mr Lord right now to represent me

21 in these proceedings, but it doesn’t mean that he would

22 be representing me in these proceedings because he has

23 at least a conflict of interest, yes.

24 So his argument was that as long as Mr Vasiliev

25 generally could have power of attorney from me or my

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1 wife, he said that it means that he was representing me 1 the respondent VD Arkhangelsky, Ya Yu Vasiliev, acting
2 there. 2 on the basis of power of attorney …»
3 MR JUSTICE HILDYARD: I understand that you say he would 3 You can see what this judgment records as being the
4 have been unable to represent all those parties? 4 points that were taken by Mr Vasiliev in this respect.
5 MR ARKHANGELSKY: Absolutely, because formal ethics, 5 Then if you look in the next paragraph you can see
6 professional ethics, and conflict of interest, at least, 6 it says:
7 and the fact that he was under the pressure by 7 «The representative of Vyborg Shipping Company did
8 Levitskaya and so on. So he was not informing me, first 8 not appear at a single court hearing although he had
9 of all; secondly, I have not paid him for any 9 been duly informed of the date …»
10 representation, I have not ordered him to represent me 10 So it rather looks as if — from this, anyway —
11 there. So I assume he, in that particular proceedings, 11 Mr Vasiliev was not appearing on behalf of
12 he was representing Vyborg Shipping Company and, as long 12 Vyborg Shipping Company, as had been suggested, but on
13 as Vyborg Shipping Company at that time was belonging to 13 behalf of Mr Arkhangelsky.
14 the Bank of St Petersburg, he was operating in 14 So we think this is the record of the court judgment
15 the interests of the Bank of St Petersburg. So any 15 in this case, and the document I took the witness to was
16 statements given to him in that proceedings means that 16 taken off the relevant court file.
17 he was giving all these statements in the interests of 17 MR ARKHANGELSKY: Sorry, you claim that this judgment comes
18 the Bank of St Petersburg. 18 from the application we discussed in the beginning?
19 MR JUSTICE HILDYARD: Yes. 19 Sure? Can we see the numbers, please?
20 MR LORD: Shall I clarify matters, my Lord? I’m very happy 20 Your Lordship, it’s hard to believe that in
21 to clarify matters. In the ordinary way I would stand 21 the court records you don’t have at least number of
22 up and ensure the court didn’t proceed for too long. 22 the power of attorney of Mr Vasiliev and any note on
23 I don’t know if your Lordship meant for me to interrupt, 23 whom he is representing {D138/2312/0.1}. I cannot
24 and, if not, I will sit down and wait until the end. 24 believe in that.
25 But I am sure you will want to know. 25 MR LORD: You can see the date and the numbers of the loan,
213 215

1 MR JUSTICE HILDYARD: No, no, I want to see what the — yes.

2 MR LORD: The position is that this document I took

3 Dr Arkhangelsky to was taken off the court file. So

4 that was the basis for submitting what I submitted.

5 There is a document, there is a judgment of the court on

6 the fourth Vyborg loan, which the court should note

7 down, at {D138/2312/0.1}, I am checking which disclosure

8 it came from. I am just double-checking, but this is

9 the judgment of the court —

10 MR ARKHANGELSKY: Can I see the Russian version?

11 MR LORD: If I just explain, Dr Arkhangelsky, to you and for

12 the benefit of his Lordship, and then you can take up

13 any points, because this judgment records the — yes, it

14 records what’s happened by way of the relevant

15 proceedings, and you can see what it says on the first

16 page, and then you can see …

17 MR ARKHANGELSKY: I’m sorry, this judgment doesn’t relate to

18 the document we’ve just been discussing.

19 MR LORD: If you go to {D138/2312/0.3}, the judgment seems

20 to pick up the point that Dr Arkhangelsky is now making

21 about conflict of interest, it seems to say on its face:

22 «During the court hearing the representatives of the

23 plaintiff … power of attorney …»

24 The next paragraph:

25 «During the court hearing the representative of

1 I think it is the fourth Vyborg loan.

2 MR ARKHANGELSKY: Wait a moment, I will just make a note.

3 Not close it down. {D138/2312/1}. {D138/2312/3}.

4 Can we please get back this — Mr Vasiliev’s

5 application to the court? {D1/5/1}

6 No, it is very strange, I cannot believe that this

7 is the final version of the document filed with the

8 court, then you don’t have any reference to power of

9 attorney, and what is also important in that document,

10 can we see the second page? Your Lordship, I have one

11 more reason why it’s not a real document, because when

12 any application is done to the court, it have to be

13 enclosed a list of attachments. So I assume that

14 Mr Vasiliev at least had to attach the power of attorney

15 and some documents {D1/5/2}, {D1/5/4}. So I think this

16 is a pre-initial draft of the first letter to the court

17 and it has been drafted by the Bank of St Petersburg

18 lawyers. So that’s the point I wanted to make, and it

19 is up to you to decide how to proceed on that particular

20 point.

21 MR JUSTICE HILDYARD: But you are not suggesting that the

22 judgment of the court is other than the judgment of

23 the court, are you?

24 MR ARKHANGELSKY: You see, it has been so many proceedings,

25 so I am not really able to understand, and, you know,

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February 24, 2016 Day 16 — Redacted

1 it’s not in a short while I can make any judgments on

2 that.

3 MR JUSTICE HILDYARD: Right.

4 MR ARKHANGELSKY: But what I may assume, that initially

5 Mr Vasiliev could appear on one power of attorney

6 representing one company, and then he could be

7 representing anybody else under the pressure of

8 Levitskaya. But, you see, in any respect he was not

9 getting my advice and he was not informing me of any

10 proceedings, and, as far as I remember, it has been in

11 French and Bulgarian proceedings widely discussed that

12 he was not, in fact, representing me. So that’s what

13 I wanted to say about that document.

14 MR JUSTICE HILDYARD: Yes.

15 MR ARKHANGELSKY: The second point, just, again, I think

16 it’s more important for the transcript. I think, again,

17 on Friday we had — I don’t want to spend much time on

18 it, just very briefly.

19 MR JUSTICE HILDYARD: No, no, don’t you worry, I want you to

20 have the proper time to make your points.

21 MR ARKHANGELSKY: I think it is more factually important for

22 the transcript, because we actually understood most of

23 the things on Friday. So Mr Lord was referring to

24 the investment memorandum of Western Terminal and the

25 draft correspondence, let’s say correspondence in

1 figures. I know I did.

2 MR JUSTICE HILDYARD: Well, which is the document that you

3 say shows that the profitability on turnover was

4 33 per cent?

5 MR ARKHANGELSKY: It’s the final version of the investment

6 memorandum. And 1 per cent and 2 per cent was the

7 figures which Mr Lord taken from the internal

8 correspondence in the process of preparation. So

9 I think it was some mathematical mistakes. I just want

10 to make clear that in investment memorandum

11 profitability is shown 33 per cent from the turnover.

12 MR JUSTICE HILDYARD: Okay. Well, if someone can find me

13 that document, my recollection is that Mr Lord wanted to

14 revise his figures, because I think there was some

15 problem as to euro and dollar exchange rates.

16 MR ARKHANGELSKY: It was rather big mistake, yes, but what

17 I want to tell you, that it’s important that the court

18 gets information from the final documents and the final

19 document shows the profitability of 33 per cent and not

20 1 per cent or 2 per cent, as been initially suggested,

21 as long as it might be calculation mistakes either on

22 the side of Mr Lord or in the internal correspondence he

23 was referring to.

24 MR JUSTICE HILDYARD: Well, Mr Lord thinks that he did refer

25 me to the 33 per cent figure. I have to admit that

217 219
1 the process of preparation of investment memorandum. 1 I cannot recall, but at some point —
2 So I think Mr Lord already on Friday understood that 2 MR ARKHANGELSKY: No, I just wanted to make it clear.
3 he made quite a number of mistakes in his suggestions, 3 MR JUSTICE HILDYARD: — the final information memorandum
4 but I just want to be clear that, let’s say, his initial 4 showing the 33 per cent will be located.
5 suggestion in discussion of investment memorandum of 5 MR ARKHANGELSKY: Yes. So I just wanted to make it clear
6 Western Terminal was that the profitability of Western 6 because I haven’t had a chance to access —
7 Terminal was only 1 per cent of its turnover, and 7 MR JUSTICE HILDYARD: No, don’t you worry, I accept that.
8 he claimed that it’s so small amount. 8 MR ARKHANGELSKY: For your Lordship, I just find it
9 Then Mr Lord accepted that it was an initial and 9 yesterday on the internet, that corporation Yahoo in the
10 a draft thing. Then he given a second draft 10 best years, let’s say in 1999 — that was the top
11 correspondence, where he’s shown that the profitability 11 growth — the profitability of Yahoo was 10 per cent
12 of the business of Western Terminal was 2 per cent from 12 from their turnover, and profitability of Western
13 turnover, which was, again, taken from the draft and was 13 Terminal is 33 per cent.
14 not correct. 14 MR JUSTICE HILDYARD: 33 per cent. Yes.
15 Then Mr Lord made some suggestions in respect to 15 MR ARKHANGELSKY: 3so that’s the point I wanted to …
16 exchange rates, and I think he accepted that it was his 16 MR LORD: I took your Lordship and I took the witness to
17 mistake. 17 the final version of {D52/889/1}.
18 Then, finally, we came to the final version of 18 MR JUSTICE HILDYARD: Okay, let’s have a look at it.
19 the memorandum, in which it is shown that the 19 MR LORD: And it is behind tab 10 in the Western Terminal
20 profitability of Western Terminal is roughly 33 per cent 20 bundle, there should be a special bundle for Western
21 from the turnover, and I assume Mr Lord just decided not 21 Terminal. I will check, I will check now, but I am
22 to show this to the court, but I just want to tell that 22 reasonably sure that I took the witness to {D52/889/6},
23 initial assumptions based on the drafts, they were not 23 which has the figures of 33 million and 88 million.
24 correct — 24 MR JUSTICE HILDYARD: Which page?
25 MR LORD: Sorry, my Lord, I did take the court to those 25 MR LORD: {D52/889/6}. It’s the first big paragraph.
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1 MR JUSTICE HILDYARD: My note is transcript {Day13/182:1},

2 but it may be slightly inaccurate because the page

3 number slightly changes.

4 MR ARKHANGELSKY: Your Lordship, it really does matter,

5 I just wanted to bring your attention that there were

6 rather long discussions about 1 per cent or 2 per cent,

7 but I wanted that you remember, let’s say, the final and

8 correct figure taken from the final document. That’s

9 the only point I just wanted to discuss.

10 MR JUSTICE HILDYARD: I can’t remember whether Mr Lord

11 expressed it in percentage terms, but certainly I was

12 taken to that passage.

13 MR ARKHANGELSKY: Can I go to the next point?

14 MR JUSTICE HILDYARD: Yes.

15 MR ARKHANGELSKY: Mr Lord told that Insurance Company

16 Scandinavia was financially weak and could not survive

17 without Oslo Marine Group as a group. So just few

18 comments, just, again, for your understanding.

19 The financial strength rating given by AM Best to

20 Insurance Company Scandinavia was just only one position

21 below the national rating of Russian Federation. So

22 this is extremely unusual and tells that it has been

23 very stable and financially strength company.

24 MR JUSTICE HILDYARD: It moved between B- and B, did it?

25 MR ARKHANGELSKY: There are two types of rating at the same

1 dated March or April 2009, signed by Madame Volodina,

2 where she withdraw this rating, so which is quite

3 obvious, because when they started the conflict, so they

4 withdrawn accreditation in the Bank.

5 So just to confirm that Insurance Company

6 Scandinavia been insuring businesses and assets of quite

7 a number of other banks. So it been in the list of

8 accredited insurance companies. For example, it has

9 been in the list of, City Invest Bank, Moscow and

10 PrivatBank, V-Bank, of course — Vozrozhdenie Bank —

11 and, as far as I remember, it was something like 20

12 banks from Moscow who accepted accredited Insurance

13 Company Scandinavia to be an insurer of their projects

14 and assets and mortgages generally.

15 So referring to the question if Insurance Company

16 Scandinavia could survive without the group, what

17 I should say, that Insurance Company Scandinavia had one

18 of the major, in Russia, by that time, marine insurance

19 portfolios. So we were sitting in St Petersburg, we

20 were insuring shipping — ports and shipping business

21 from Germany, Norway, UK, Turkey and so on, so

22 worldwide, we had clients from Indonesia, Malaysia,

23 India, Singapore and so on.

24 So Insurance Company Scandinavia’s business itself,

25 it was — in most of cases it was either international

221 223

1 time. So initially what you seen in the movie it was

2 initial rating, and then I think it came to BB-,

3 something like that, and the rating of the Russian

4 Federation was BBB- or BB-. So it was just one position

5 above Insurance Company Scandinavia rating.

6 I’m not sure if Bank of St Petersburg ever, that

7 time, had any rating, and —

8 MR JUSTICE HILDYARD: And when was the last time that

9 AM Best gave it a rating?

10 MR ARKHANGELSKY: I think it was end of 2008 or something

11 like that, and, just for your understanding, when I left

12 the country in June 2009, I written a letter to AM Best

13 to withdraw the rating because I am no longer in control

14 of Insurance Company Scandinavia.

15 MR JUSTICE HILDYARD: Right.

16 MR ARKHANGELSKY: So the financial strength and

17 profitability of Insurance Company Scandinavia has been

18 well accepted by the major market players. So we’ve

19 been reinsuring biggest companies, like Gazprom, for

20 example, and so on, and their insurance companies.

21 And, for example, Bank of St Petersburg included

22 Insurance Company Scandinavia in the list of companies

23 who can insure bank projects and mortgages of

24 the Bank of St Petersburg.

25 In the disclosure we have a letter, I think

1 marine business or reinsurance business related to

2 Russian insurance companies, so we were placing

3 reinsurance abroad.

4 Marine insurance portfolio of Insurance Company

5 Scandinavia was well reinsured abroad and generally in

6 the London market. So all the portfolio was reinsured

7 on excess of loss basis through one of the leading

8 Lloyd’s brokers in London called Newman, Martin & Buchan

9 and the rating of our reinsurance portfolio was not

10 below A. So it was something like, whatever, 10, 15

11 companies reinsuring the whole portfolio, most of them

12 were AAA rating, AA rated, or the lowest was A rated;

13 which is extremely high, because normally Russian

14 companies would be expecting to reinsurance their

15 business on the level of the country rating, so not more

16 than the BBB.

17 MR JUSTICE HILDYARD: So was all your reinsurance the

18 subject of retrocession agreements in the London market.

19 MR ARKHANGELSKY: Not exactly. Retrocession it means?

20 MR JUSTICE HILDYARD: Reinsurance of reinsurance.

21 MR ARKHANGELSKY: No, no. I mean insurance of Scandinavia

22 Insurance Company portfolio was done on an excess of

23 loss basis, with cut-through clause. So it means that

24 we were taking rather serious level of own retention.

25 MR JUSTICE HILDYARD: Right. So you had a large retention.

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1 MR ARKHANGELSKY: We had a large retention.

2 MR JUSTICE HILDYARD: So the question then would be what

3 assets and investments you had to back up claims up to

4 the level of your retention.

5 MR ARKHANGELSKY: You see, as long as we employed Newman,

6 Martin & Buchan, who considered at that time to be one

7 of the leading Lloyd’s brokers, so it’s them who created

8 the model and calculated everything. So I assumed that

9 we had a very good financial model which was operated

10 and, you know —

11 MR JUSTICE HILDYARD: All I am suggesting is that that

12 doesn’t quite answer the point as to whether, without

13 the support of other assets in companies associated with

14 it, the market would have thought that, up to the level

15 of retention, Scandinavia Insurance was a good or a bad

16 bet, that’s the issue.

17 MR ARKHANGELSKY: Yes, absolutely.

18 MR JUSTICE HILDYARD: And it doesn’t really tell me anything

19 about that.

20 MR ARKHANGELSKY: Absolutely, but the only reliable source

21 which can make this estimation and the valuation is the

22 rating agency who makes this; and actually that’s why

23 we’ve been using rating agency, and everybody in

24 the market, they were orienting themselves in judging

25 this to the rating, which is —

1 logic, again, you can come to different conclusions.

2 So my suggestion to the court to be very careful in

3 any suggestions done by Mr Lord in respect to IFRS

4 accounts, considering the fact that he’s absolutely not

5 a specialist in this area, he doesn’t know how it

6 operates, and that any conclusions in respect to IFRS

7 are not possible to do from the point of view of formal

8 logic but only from the guidelines of Russian accounting

9 and IFRS accounting. And in case any decisions to be

10 made on this point, I think it’s subject to proper

11 analysis by experts and not by the lawyers on this

12 aspect.

13 MR JUSTICE HILDYARD: Well, you made your point, and you now

14 re-emphasise it, that IFRS accounting is a complex issue

15 and subject. The particular point, from recollection,

16 but I may be wrong about this, that I think Mr Lord was

17 putting to you and putting before me was whether the

18 profitability depended on future acquisitions of

19 a company which never, in fact, resulted, and also on

20 revaluations of properties, which yielded something like

21 55 million — I can’t remember what it was. That may

22 not take into account other entries in IFRS accounting,

23 including the costs of acquiring and running those

24 companies, and I will be careful not to leap to

25 conclusions.

225 227

1 MR JUSTICE HILDYARD: Was the rating on a standalone basis?

2 MR ARKHANGELSKY: Of course, yes, of course. Of course.

3 Of course. Of course. Of course.

4 MR JUSTICE HILDYARD: Only Scan Insurance and no other

5 agreements?

6 MR ARKHANGELSKY: No, and just for your understanding that

7 AM Best is the rating agency, at least that time,

8 oriented only on insurance and pension funds, as far as

9 I remember. So it was on a standalone basis for sure.

10 MR JUSTICE HILDYARD: Okay.

11 MR ARKHANGELSKY: Small point number 5 is that —

12 MR JUSTICE HILDYARD: I’ve only got three so far. Maybe

13 I’ve missed one.

14 MR ARKHANGELSKY: Okay, I combined marine insurance

15 portfolio and financial strength insurance — that

16 doesn’t matter.

17 MR JUSTICE HILDYARD: Next one.

18 MR ARKHANGELSKY: Yes. I am very much concerned on all the

19 discussions we had here in respect to IFRS accounts. So

20 it’s really a very complex matter and you cannot judge

21 it, you know, from the point of view of standard logic.

22 So the presentation done here by Mr Lord reminded me

23 like a small boy in the church, then the priest tried to

24 prove that God exists from the formal logic. But if you

25 know some other sciences, you may, from the formal

1 MR ARKHANGELSKY: What is even more important that I want to

2 add, that IFRS accounts, it’s more long term financial

3 status, and what was Mr Lord trying to lead to the issue

4 of cash flow and short term financial stability, that is

5 absolutely different. So I think it comes from the

6 different documentation or from different types of IFRS

7 documents.

8 MR JUSTICE HILDYARD: They are all means of trying to show

9 people who understand these things the most accurate and

10 comprehensive depiction of the financial position and

11 prospects of the company. Of course, people who read

12 these have a great deal of expertise in that regard, and

13 they can probably read it, as it were, like a book;

14 whereas you are saying be careful of assuming the

15 sentences in the book if you do not have adequate

16 expertise, and I take that warning.

17 MR ARKHANGELSKY: People study five years, at least, to be

18 a specialist, and pass a lot of specialised exams on

19 different levels.

20 MR JUSTICE HILDYARD: Yes.

21 MR ARKHANGELSKY: Okay, but that’s the only point I wanted

22 to make.

23 MR JUSTICE HILDYARD: Yes.

24 MR ARKHANGELSKY: Referring to the videos and photos which

25 we have seen. So just my small comment; that I think it

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1 was on the first or second day that Mr Lord tried to

2 show low quality pictures of Western Terminal. I think

3 it was a try to mislead the court and try to get some

4 statements, which I was not able to do as long as I am

5 not —

6 MR JUSTICE HILDYARD: I am sure he thought, as you think,

7 that it was relevant for me to see the state of

8 the port, and the terminal. He had the pictures he had.

9 He did not have available to him, or at least to his

10 knowledge, these other photographs, and that has been

11 corrected to the extent that the videos and the

12 photographs you have provided me have corrected it.

13 MR ARKHANGELSKY: Your Lordship, I may not accept this point

14 because as long as they are in the control of the

15 Western Terminal, and the people there are the same

16 working there, I assume most of them are the same which

17 been working five and ten years ago, so I know and

18 I remember, they had archives with all this development

19 and strategies and pictures and so on.

20 So they were in the possession of the claimants.

21 They have not disclosed any of them, and what I — just

22 to reiterate, we and our valuation specialists, they

23 were extremely disappointed that the Bank, in their

24 valuation report, have not done any picturing of the

25 assets, which is very unusual, and I think they are

1 proceedings, that I don’t know exactly, was it 2014 or

2 2015, but some construction or additional construction

3 of railroads been done, but they were — not any of

4 the document been disclosed in these proceedings,

5 because normally when you do the construction of

6 railroads, you do have, let’s say, evaluation of

7 the status of existing construction, and what been done

8 and which stage and how it’s been done.

9 So what I claim, that the claimants have all

10 necessary documentation, technical documentation in

11 respect to the construction of — additional

12 construction or renovation or whatever, I don’t know

13 what’s happened — of railroad lines on the terminal

14 back in 2014/2015, but what I seen from the pictures on

15 the Google, that this construction or additional

16 construction was done exactly on the old lines.

17 But, you know, having this disclosed, it would not

18 be any questions in these proceedings.

19 MR JUSTICE HILDYARD: I have worried that I haven’t fully

20 got the point you are making.

21 MR ARKHANGELSKY: Yes, once again, in 2014 and 2015,

22 Bank of St Petersburg, through Western Terminal,

23 undertaken some repairing construction, or

24 reconstruction, I don’t know what, of railroads on the

25 terminal.

229 231

1 right in while making valuation reports, they were not

2 entering to these territories. They were not making the

3 proper analysis, which is really surprising me,

4 considering that they employed, I think, international

5 companies, that they used the pictures of Lair dated

6 2008, which is absolutely unacceptable for the modern

7 quality —

8 MR JUSTICE HILDYARD: You have made your point.

9 MR ARKHANGELSKY: Yes.

10 MR JUSTICE HILDYARD: It is a point which I have in mind,

11 not least because Mrs Malysheva, in her interview with

12 the Russian journalist, depicted the railway line as

13 ending up in a pile of rubbish and was quite dismissive

14 as to the state of the port. So it is obviously of

15 relevance, but I am sure that Mr Lord put forward the

16 photographs which he had available to him, and my mind

17 has been directed to other photographs, including

18 videos.

19 MR ARKHANGELSKY: Yes. Next point, but just to continue the

20 previous one, what I came to know from our valuation

21 expert, Mrs Simonova, she indeed told me — I mean back

22 in — half a year ago, or something like that — that

23 she seen that some new works definitely been done during

24 the last year on Western Terminal in respect to

25 railroads, and what is extremely important for these

1 MR JUSTICE HILDYARD: Yes.

2 MR ARKHANGELSKY: So railroads in Russia — I don’t know how

3 it works in the UK, but in Russia it’s considered to be

4 a dangerous, you know, territory, and dangerous project,

5 so each and every step have to be properly documented.

6 So before construction, the current state of

7 the existing roads have to be evaluated. You’ve seen

8 the quality of the soil or ground there is not that

9 good, because St Petersburg is built on a swamp.

10 So I mean that in the process of construction and

11 reconstruction during recent years, they had to make

12 expert reports on the status of what was going on, and

13 what was the shape and what was existing and what was

14 not existing.

15 MR JUSTICE HILDYARD: I see. So your point is that there

16 has been work on the railroads some time in 2014,

17 perhaps.

18 MR ARKHANGELSKY: Recently, yes.

19 MR JUSTICE HILDYARD: That, under Russian legislation — and

20 one can quite understand this might be the case — there

21 should be documents revealing exactly what was done and

22 how it was done, and possibly photographs —

23 MR ARKHANGELSKY: Absolutely, absolutely, absolutely.

24 MR JUSTICE HILDYARD: — showing the progress, and you say

25 that none of that has been disclosed but ought to be

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1 available?

2 MR ARKHANGELSKY: Yes, absolutely.

3 MR JUSTICE HILDYARD: That’s your point, is it?

4 MR ARKHANGELSKY: Yes, yes, yes. So in Russia it’s heavily

5 documented and controlled by at least two big

6 organisations: first there’s the Russian railroads,

7 because they would not allow to enter the rail line

8 which is not under the standards, and we have

9 an organisation called Gosgortechnadzor, it’s a state

10 safety technical supervision authority, and, you know,

11 any construction or reconstruction of railroads under

12 very strong control, because any minor damage —

13 MR JUSTICE HILDYARD: I understand that.

14 MR ARKHANGELSKY: — would kill people and so on.

15 MR JUSTICE HILDYARD: Mr Lord, it is a bit unorthodox, but

16 have these been disclosed?

17 MR LORD: My Lord, your Lordship will recollect that it is

18 owned and operated by the Baltic Fuel Company, which

19 isn’t part of the Bank.

20 MR JUSTICE HILDYARD: Yes. I was rather worried that all

21 roads would lead to ownership or control.

22 Yes. It’s part of your complaint that the Bank has

23 disposed of these two people you say it controls and

24 owns; but, of course, on the Bank’s position the

25 documentation would be in the possession of other

1 friend Mr Eschwege.

2 MR JUSTICE HILDYARD: Thank you very much. And that didn’t

3 extend to Baltic Fuel; is that right?

4 MR ARKHANGELSKY: But it was including Sklyarevsky and

5 Smirnov, so I assume they should have this information.

6 MR LORD: My Lord, I’m sorry, I think the forensic trail we

7 were on, with all due respect, was the ownership point

8 and the control point. We were not on a separate point

9 of getting valuation type materials for railroad

10 development. We were not on that point at that time,

11 and I am told that the text of the letter was settled by

12 the court, the terms on which (inaudible) write to

13 the various companies. So it is not right to make any

14 criticism of Bank of St Petersburg in this regard.

15 MR JUSTICE HILDYARD: All I am trying to work out is what

16 exactly had to be done. Is the form of the letter

17 available?

18 MR ARKHANGELSKY: Your Lordship, may I just make one —

19 MR JUSTICE HILDYARD: No, hold on, Mr Arkhangelsky. All

20 I am doing is fact-finding.

21 MR LORD: My Lord, I think it is attached — can we scroll

22 down for his Lordship’s sake, please? {J1/20/11}.

23 {J1/20/14}. I am told {J1/20/15} and {J1/20/16}, yes,

24 I think the letters come afterwards. The application is

25 at {G3/102/1}, and there was a witness statement from

233 235

1 companies and, in this case, Baltic Fuel. I think I did

2 direct that efforts be made to obtain from companies

3 like Baltic Fuel any documents, so I don’t know what

4 became of them.

5 MR LORD: I don’t think —

6 MR ARKHANGELSKY: I don’t think any effort has been done,

7 my Lord, by the way, because I haven’t seen them.

8 MR LORD: I need to check on that.

9 MR JUSTICE HILDYARD: It may be that Baltic Fuel wasn’t one

10 of the companies, but we had that long list of about 12

11 or 13 companies which you were to try and get documents

12 out of them. I don’t know what happened.

13 MR ARKHANGELSKY: Your Lordship, I think, speaking about

14 Western Terminal, the documentation could be in at least

15 three or four, actually the same set of documents should

16 be at least in three or four different companies, like

17 Sevzapalians, like Western Terminal itself, Baltic

18 Petroleum, and I think three or four other names have

19 been mentioned there, I don’t remember, around this

20 project.

21 MR JUSTICE HILDYARD: The question is whether they have

22 power or control over those documents, and perhaps

23 someone on your side could remind me where it was, that

24 I think I did make an order.

25 MR LORD: {J1/20/7}, I am helpfully told by my learned

1 Mr McGregor that explained the responses that were

2 received {H2/35/1}.

3 MR JUSTICE HILDYARD: Thank you, I will read those.

4 MR ARKHANGELSKY: Yes, but anyway, can I just make a final

5 comment on that point and just forget about that? The

6 Bank claim that during, whatever, 2008 to 2013/2014,

7 bank, or afterwards Renord or Sevzapalians or whatever,

8 so they claim they been controlling or operating this

9 terminal, and they’ve been — if they are right, they’ve

10 been selling this to the third party. So in the process

11 of selling of any asset, I assume they made the

12 necessary due diligence and collected all these

13 documents. So it’s hard to believe that even if they

14 sold it on market and independent basis, they are not in

15 possession of any documents or any basic documents, for

16 example, in respect of railroad.

17 I assume that the quality of railroads and

18 documentation in respect to railroads constitutes quite

19 important part of the valuation of the project and so

20 on. So it’s hard to believe that the Bank doesn’t have

21 this documentation, at least some of them.

22 Next point. We’ve been discussing this favourite

23 issue of Mr Lord, City Centre. Just my few comments on

24 that in addition to what’s been told. In his witness

25 statement, Mr Sklyarevsky, he’s telling that he had

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1 a personal, friendly relations with Mr Kirill

2 Mikhailovsky, head of the insurance supervision

3 authorities of St Petersburg. So it means having these

4 friendly relations, he says that he was able to obtain

5 financial information and documentation from insurance

6 supervision authorities.

7 So it’s hard to believe to me that, having changed

8 three directors at Insurance Company Scandinavia, the

9 banks changed in March, July, August, and in November,

10 so they changed three directors. They were controlling

11 a bankruptcy process, and they were in position due to

12 specially friendly relations on one side, but on another

13 side on any official occasion, because if the insurance

14 company director would ask insurance supervision

15 authority, they would give all the documents.

16 So it’s not true that they were not able to get any

17 information about this City Centre, about their money

18 came to, and the fact that they were not claiming this

19 point before I assumed that they simply got these

20 investments themselves.

21 So, your Lordship, doesn’t it look logic that if the

22 Bank started criminal investigations against me in

23 respect to RUB 60 million, they would not start criminal

24 investigations in respect how much RUB 800 million? So

25 it’s really funny.

1 before, but I think it’s extremely important. I’m

2 sorry. It’s extremely important that the Bank, who is

3 in possession of the documents, and in possession of

4 money, so they can, for the most important documents,

5 which especially they put to the witnesses, the quality

6 of the documents could be much better because otherwise

7 I think it’s really misleading the court.

8 Can I just give a few points, which I assume is

9 a must to be in the documents which they show to you?

10 First of all, in any documents disclosed for

11 cross-examination or to the court, it should be clearly

12 stated if it’s a draft or it’s a final document. And if

13 it’s a final document, where and how it has been filed.

14 Because you may normally see that in the Russian

15 version, but in the translations shown here, you cannot

16 see that, and I think you may be misled by this.

17 I assume that in translations it should be clearly

18 stated which part of the document is the printed

19 document and which part is the handwritten, and by whom,

20 which was not absolutely the case. So you should

21 understand clearly who and when made any additions to

22 these documents, and that’s actually very important to

23 the point we discussed today, this morning, in respect

24 to signatures of the Bank employees, for example, and

25 their comments.

237

1 So I assume that this money been obtained by the

2 Bank of St Petersburg and they’ve been used by

3 themselves. So unless — so I don’t see any other

4 option, and this question been just brought at final

5 stage, I think, half a year ago, not earlier.

6 MR JUSTICE HILDYARD: Anyway, your evidence is that neither

7 you nor your wife, directly or indirectly, have any

8 interest?

9 MR ARKHANGELSKY: Absolutely. Yes. No, I just wanted to

10 confirm what I see from the facts myself as a specialist

11 in the insurance business; that this money could not

12 disappear. I absolutely cannot understand how they

13 could not trace this company, because City Centre, it’s

14 a not standard name. So it’s, I think, not that much

15 companies in the market with this name. Having bank

16 doing all these transactions, so these transactions were

17 going through the Bank of St Petersburg accounts and, as

18 I said, all this had to be in their books. So, you

19 know, it looks extremely strange for myself.

20 So that was just a comment, if …

21 MR JUSTICE HILDYARD: Yes.

22 MR ARKHANGELSKY: Can I go forward, yes, to the next point?

23 MR JUSTICE HILDYARD: Yes.

24 MR ARKHANGELSKY: Just very, very short point on

25 translations. Just — I’ve been giving this point

239

1 So I think all the important moments which influence

2 on your understanding should be included in the

3 translation as additional comments. Of course, it

4 should be clearly stated if there were any attachments,

5 what kind of attachments, if they were signed or not and

6 so on, and the same what we discussed before about the

7 signatures and stamps. And especially I’m referring to

8 the fact that on some documents been shown to me during

9 cross-examination, not on all required places there were

10 signatures, but that was not covered in the

11 translations. For example, if you have a place of

12 the signature, it’s written that it’s a signature, but

13 it’s not stated if it exists or not.

14 So, I skip a few small points which we generally

15 covered.

16 MR JUSTICE HILDYARD: On the issue of drafts, I shall take

17 it that unless it was described as a draft, it is said

18 to be final, and if it emerges at any point in

19 the proceedings that it was a draft and was not final

20 and I might have thought otherwise, then that must be

21 pointed out.

22 MR ARKHANGELSKY: And the handwriting. You should

23 understand who has written and what, because there are

24 quite a number of documents. Actually, we have seen it

25 in the cross-examination, I think, in London.

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1 MR JUSTICE HILDYARD: At the moment I am hoping for greater

2 elucidation of the position with respect to the O bundle

3 documents. I’m not sure how much further I can take it

4 than that.

5 MR ARKHANGELSKY: This was just my comments. I think that’s

6 quite important, because it’s Russian language documents

7 and what I noticed, that quite a number of documents

8 been misleading, and I think Mr Lord was not sure

9 himself on some documents and made some mistakes during

10 these proceedings.

11 Okay, three final points and I’ll finish. Quite

12 important point for your understanding why the OMG

13 projects been financed by the Russian banks; that OMG

14 projects were long term infrastructure projects.

15 Normally, all the Russian banks are heavily involved in

16 the very risky regular construction projects, so most

17 portfolio, at least by that time of

18 the Bank of St Petersburg, was in the construction

19 business, and you may easily read it in the rating of

20 the Bank.

21 So for V-Bank and for Bank of St Petersburg, it was

22 very much important that they do invest their portfolio

23 in long term quality infrastructure business, and it’s

24 quite important, especially from the point of view of

25 international rating and Central Bank regulation,

1 operation and lose licence.

2 So what I say that it was critical and crucial for

3 the Bank of St Petersburg to find a solution, and

4 I claimed that their financial situation at that time

5 was much more difficult and much more dangerous than the

6 situation with the Bank of St Petersburg.

7 So Bank of St Petersburg’s financial position was

8 very weak at that time because of the crisis, that

9 I considered that up to 80 per cent of their portfolio

10 were in default, but they haven’t had cash to pay it to

11 the Central Bank, and this would lead to the withdrawal

12 of the licence of the Bank. So that’s my point, just

13 for your understanding how it worked.

14 MR JUSTICE HILDYARD: Thank you.

15 MR ARKHANGELSKY: Referring to Mr Lord’s comment that in

16 Russian proceedings run by my wife and, let’s say, OMG

17 group in the Russian courts in respect to the returning

18 of the shares in the terminals and the Insurance Company

19 Scandinavia, so he was referring to the fact that we

20 were not referring there to repo transaction. So what

21 I want to confirm, once again, that the

22 Bank of St Petersburg in the same proceedings, or any

23 other proceedings, I mean in arbitration courts, never,

24 ever were referring to any repo transactions.

25 We widely discussed that in the cross-examination of

241

1 because Central Bank requires that some share in

2 portfolio is invested in infrastructure projects, but we

3 don’t have any similar projects in the market.

4 Coming back to the end of 2008, which we briefly

5 discussed, I think, yesterday, for your Lordship’s

6 understanding I want to make this comment; that in

7 case — we have not signed any memorandum or agreement

8 with the Bank of St Petersburg. I have said that

9 I could default at that time, definitely, but, as

10 I said, before the start of any enforcement proceedings

11 from the Bank of St Petersburg towards the assets of OMG

12 group, it could take easily two years’ time. So for me

13 it was just a question of technical default, and

14 a question of my defence in the courts, as well as

15 discussions with other banks.

16 But for the Bank of St Petersburg, in case of

17 default of Oslo Marine Group, or any other clients, it

18 meant that the full amount of loan, let’s say in our

19 case it was, whatever, RUB 4 billion, they had to

20 immediately transfer to the Central Bank of the Russian

21 Federation.

22 So what I mean, that in case I defaulted at the end

23 of 2008, it would lead the Bank of St Petersburg for

24 immediate payment to the Central Bank, and they have not

25 had any such cash money, and they would cease the

243

1 the crying witness, Stalevskaya, so she was referring

2 that she was lying and her colleagues were lying in

3 the police office, but none of the parties discussed any

4 repo transactions in the arbitration court of

5 St Petersburg. So that’s a just comment.

6 The final comment which I wanted to bring to

7 your Lordship’s attention, that Mr Lord, he was claiming

8 that around about October 2008, Oslo Marine Group was,

9 let’s say, a toxic asset and not any market value and so

10 on. So that was his suggestion.

11 Your Lordship, I just want to bring your attention

12 to the fact that in the middle, roughly the middle

13 of October 2008, Oslo Marine Group created so-called

14 advisory, or supervisory board. This supervisory board

15 was leaded by ex-Vice Prime Minister of the Russian

16 Federation, who at that time, and still is, the chairman

17 of the Russian Chamber of Commerce — oh, sorry, Russian

18 Entrepreneur Union, Mr Shokhin.

19 So, in the middle of October he considered the group

20 to be a solid one, he, who was one of the leading, let’s

21 say, lobbyists in the industrial area, as ex-Vice Prime

22 Minister, and well known, and he is still in a good

23 position, so he accepted to become a chairman of this

24 supervisory advisory board.

25 And among others in the board, we included — and

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1 the board actually been quite actively operating — we

2 included Mr Preksin, who was ex-Russian director for

3 EBRD and by that time he was Vice Chairman of the

4 Russian Banking Association; we included Mr Ruksha, who

5 at that time was President of Russian Atomic Fleet, the

6 biggest atomic fleet with atomic ice breakers, who was

7 before — who was ex-Vice Minister of Transport;

8 a couple of local politicians. But one of the most

9 important persons included in the supervisory or

10 advisory board, who had been actively working and

11 actively supporting me, was Mr Lars Kolte. At that time

12 he was a president of Council of Europe Development

13 Bank. This was the biggest European bank, with the

14 headquarters in Paris. So he has been the president of

15 this bank by that time.

16 Before, he was the head of export agencies, I think,

17 for several countries, and I think he, unfortunately —

18 I wanted him to be a witness in these proceedings and he

19 generally was agreeing to do this, but unfortunately he

20 died rather recently.

21 But he was one of the most famous and influential

22 persons in export finance and international finance.

23 I think — and he was at that time also the member of

24 the board of North and — something like Scandinavian

25 Investment Bank, or something like that.

1 a break?

2 MR ARKHANGELSKY: Yes, yes, I’m all right. I just want,

3 anyway, to finish today. So any questions …

4 MR JUSTICE HILDYARD: Some of these questions will be more

5 in the nature of enquiries, but while you are here, in

6 case you can help, I would be grateful.

7 MR ARKHANGELSKY: Yes, absolutely.

8 Questions by MR JUSTICE HILDYARD

9 MR JUSTICE HILDYARD: It is probably my fault for not

10 studying with sufficient care the expert reports, but

11 I must say that I am unclear what has happened to and

12 the present state of the companies, which you said had

13 such great potential and might have been supported by

14 EBRD and other European financial institutions.

15 Do you know whether Western Terminal, Vyborg Port

16 and Shaglino woodchip, whether accounts are publicly

17 available for these?

18 A. I think based on Russian legislation, everybody can,

19 for, whatever, €10, €15, €20, whatever, buy it on the

20 internet, and as far as I understood, some documents

21 have been disclosed there.

22 So it’s a public information. I don’t know which

23 delay could be, let’s say half a year or something like

24 that.

25 MR JUSTICE HILDYARD: Yes.

245

1 So he has been very actively involved in this, so he

2 organised quite a number of meetings with export

3 agencies, for example, Atradius in Holland, and Danish

4 export agencies, and German export agency, Hermes, and

5 Finnvera in Finland, so some meetings we have done

6 together and so on.

7 So I assume that any suggestions that quality

8 international financing was not possible, I suggest that

9 it was really possible and it was easy to do, subject to

10 by that time, by mid-spring 2009, summer 2009,

11 I employed quality international specialists in

12 international finance, especially infrastructure

13 finance.

14 So that’s an important comment, and so I just want

15 to thank you for your attention and the chance given me,

16 not only the possibility to speak now, but to defend

17 myself with the support of Mr Stroilov, because

18 otherwise I would not be able to struggle, considering

19 the fact that my opponents made everything to squeeze

20 me, and their target, I assume, was never, ever bring my

21 case to this court. Thank you for your attention.

22 MR JUSTICE HILDYARD: Thank you.

23 Can I ask you one or two questions?

24 MR ARKHANGELSKY: Of course.

25 MR JUSTICE HILDYARD: Are you all right or do you want

247

1 A. But all this information is absolutely available, yes.

2 MR JUSTICE HILDYARD: And that would be so, even if they

3 were controlled, as OMG was, to some extent, by

4 a single, or just very, very few shareholders; what we

5 in England might call a private company?

6 A. No, limited, all the limited, I think — I’m not sure

7 how it is in reality, but I assume that all the accounts

8 are public.

9 MR JUSTICE HILDYARD: Right. But you haven’t sought to

10 obtain those yourself?

11 A. No, first of all, you know, it consumes a lot of time

12 and, you know, it’s expenses and we tried, as much as

13 possible, to reduce expenses because I cannot actually

14 see what for I may need these.

15 And you know, your Lordship, that, for example,

16 speaking about company Western Terminal, as far as

17 I understood, there are a number of operational

18 companies there, or what you call profit centres.

19 MR JUSTICE HILDYARD: Yes.

20 A. So seeing account for example, for whatever,

21 Sevzapalians, or Western Terminal, you would not get

22 a picture of how it works.

23 MR JUSTICE HILDYARD: Unless IFRS combined accounts.

24 A. Absolutely. Absolutely.

25 MR JUSTICE HILDYARD: Right, okay.

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1 A. That, for sure, they don’t do.

2 MR JUSTICE HILDYARD: Right.

3 I may have got this wrong, but my recollection is

4 that as regards the Shaglino development, the timber

5 development, you envisaged being able to supervise that

6 from Nice; is that right?

7 A. Not exactly. You see, the status is that that land

8 belongs to a company called Svir. In the process of

9 the bankruptcy of Vyborg Shipping Company, Vyborg

10 Shipping Company administrator made a number of

11 enquiries in the court, so there were a lot of

12 litigations going on.

13 But what I tried to do with the help of V-Bank, as

14 long as companies in OMG group signed contracts with the

15 producers of equipment, companies called Jartek and

16 Dieffenbacher, and made some substantial prepayments

17 and, by the way, as far as I understood, all these

18 German and Finnish companies started to produce this

19 equipment, and you know that all these chipboard and saw

20 mill factories, they are produced just for a particular

21 place and for a particular volume and so on.

22 MR JUSTICE HILDYARD: Yes.

23 A. So based on an enquiry of V-Bank, I was continuing

24 discussions with these producers and projecting

25 companies, you know, just to keep the project somehow

1 A. Yes, what I should say that, while living in Nice, I was

2 still able to continue several construction projects

3 which were financed by V-Bank, like a project called

4 Solnechnoye, which is Novy Gorod project called Rusiv,

5 the construction of the business centre. So it was,

6 indeed, the final stages in respect to the paperwork and

7 so on. And for Shaglino, my target was just to secure,

8 let’s say, the funds been paid and the project created

9 would be, you know — would survive and maybe could be

10 used at some further stage. So definitely you couldn’t

11 construct so big — and that was a rather big investment

12 project, and not definitely to be realised by the person

13 who is under Interpol search and so on.

14 MR JUSTICE HILDYARD: Right.

15 It was put to you by Mr Lord this morning that the

16 true reason why you left Russia, I think via Bulgaria,

17 and eventually landed up in France, in September,

18 I think it was?

19 A. Yes, absolutely.

20 MR JUSTICE HILDYARD: Was that you were, as he put it,

21 seeking to flee your creditors. Under Russian law, so

22 far as you are aware, is there a criminal process for

23 failing to pay your debts?

24 A. No, absolutely not. Not.

25 MR JUSTICE HILDYARD: So what additional rights would

249 251

1 afloat, because they thought that at some stage problems

2 could be solved.

3 But as far as I understood, Shaglino project has not

4 been further realised because all these trials going on

5 in Russia, which been brought by Vyborg Shipping

6 Company.

7 As you may see on Google, Western Terminal extremely

8 well developing, so it’s a huge volume of operations,

9 they done some realisation of the plans which I had, so

10 I think it’s a really successful and profitable venture.

11 Vyborg Port, as I said, I don’t have connections

12 with them for two years, so they do operate, so

13 that’s — so the biggest company there in respect for

14 employment and so on, but I don’t — so our family is

15 extremely happy that we get some, even small amounts of

16 money, but for us it’s extremely important.

17 MR JUSTICE HILDYARD: Yes, I tell you what was on my mind,

18 and I do apologise for not being able to give chapter

19 and verse, and I apologise even more if I’m inaccurate,

20 but the impression I formed was that, as regards

21 Shaglino, you at one moment suggested that you might

22 have been able to run it from abroad, whereas in

23 the case of Vyborg and the other companies, you were

24 very dismissive of a suggestion that you could, and

25 I just wondered what the explanation for that was?

1 creditors have against you by fleeing?

2 A. Nothing. No, nothing. Is it a criminal in UK?

3 MR JUSTICE HILDYARD: It used to be. It isn’t any longer.

4 A. Okay, no, no, it’s absolutely not. You see, the

5 problem, it’s the manipulation by the police, by the

6 Bank. So that’s the key issue there.

7 MR JUSTICE HILDYARD: Yes, so your evidence is that so far

8 as you were concerned, you were obliged to leave Russia

9 because you felt under threat there?

10 A. As I given it in the witness statement, but I can just

11 repeat that, that I had a meeting with the friend of

12 mine, who was ex-policeman, rather a high position

13 policeman, and he told me that — he brought, actually,

14 his friend, who been, I think, a policeman that time,

15 and he told that he been on the meeting with Piotrovsky,

16 like kind of weekly meetings where he collect key

17 persons — I mean Piotrovsky — and Piotrovsky given

18 order just to the policeman to find a way how to arrest

19 me to keep me silent. If they put me in the prison,

20 definitely I would be signing any documents, because

21 Russian prisons are not human ones.

22 MR JUSTICE HILDYARD: I mean, in those circumstances it was

23 very risky for you to return, as you did, to Moscow.

24 A. Absolutely, very risky, but I returned — I returned

25 because I got this advice from Mr Traber, and I thought

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1 that coming there just for one meeting in case

2 everything would work like Mr Traber told, I think it

3 would — it could change all the situation.

4 And my wife, really heroically, came for one day

5 in September to give an evidence in the Russian court,

6 and that was even, you know, more dangerous by that

7 time, and it was really heroic by her. And, you know,

8 she was able by that time to make her own decision, what

9 and how to do, because her telephone was under the

10 supervision of Levitskaya, so she told me that she’s

11 going to the airport, and Levitskaya was coming to

12 airport to arrest her. But my wife taken a taxi to

13 Finland, and escaped there.

14 And Levitskaya, we had a funny story that

15 Levitskaya, from airport, she was calling to my wife’s

16 lawyer at that time, Mr Erokhin, and telling that the

17 flight to Bulgaria is leaving, let’s say, in 20 minutes,

18 and I cannot wait any more, so your client should come

19 immediately to be arrested, so …

20 MR JUSTICE HILDYARD: Don’t answer if you don’t want, but

21 I’m struggling to understand how the risks were

22 assessed: were you hoping that Moscow would not know

23 what St Petersburg wanted —

24 A. Absolutely, yes. By that time —

25 MR JUSTICE HILDYARD: — or were you relying on the

1 MR JUSTICE HILDYARD: Again, with apologies for the

2 inaccuracy, but there was a discussion, I think

3 yesterday, between you and Mr Lord where you were at

4 slight cross purposes. He had asked you about meetings

5 with Mr Belykh, you answered as if he had asked about

6 Mr Savelyev, but I think you knew it was Mr Belykh, and

7 that was a slip of the tongue. That is only a matter of

8 context.

9 But between February and April 2009, did you have

10 meetings with Mr Belykh?

11 A. You see, I don’t remember exactly. We’ve been

12 definitely on telephone from time to time, that’s for

13 sure. I’d been travelling quite a lot. I spent most of

14 time in Europe — in February and March I spent most of

15 time in Europe and Moscow, because all the major Russian

16 banks are located in Moscow.

17 Definitely I’ve been visiting frequently Investrbank

18 office, with whom we had daily things, and my target was

19 to meet Mr Savelyev, because I’d been addressed by the

20 people in Investrbank that they would — especially

21 Mrs Borisova and Mrs Prokhor, they were telling me in

22 the beginning of March that something is going on, they

23 are not — as long as they were not that high

24 positioned, they were not able to understand themselves

25 what is going on.

253 255

1 protection of the people you were meeting?

2 A. No, I think that by that time, you know, I still had

3 some people employed in my office, for example,

4 Mr Kapustin, who was ex-policeman, so they were somehow

5 monitoring what is going on, and so … you know, that

6 time I was, I should say, rather stupid. I was not

7 understanding the total level or whole level of

8 the troubles I came in.

9 MR JUSTICE HILDYARD: But you had understood it enough to

10 flee, which must have been a very difficult decision for

11 you.

12 A. Yes. No, but you see, again, at that time I was not

13 really understanding how dangerous and how long it would

14 last. So I was — you know, the fact that I had not

15 taken even any minimum personal belongings with me, so

16 I thought that I may be coming just for one week, for

17 ten days, and then the problem would be solved and we

18 will return back, so …

19 You know, whole summer, we were staying in Bulgaria

20 and not understanding what is going on, and we were

21 thinking that, okay, initially we thought ten days and

22 then maybe one month, then two months, three months,

23 then we understood that kids should go to the school,

24 life is going on, and we have to make some more

25 important strategic decisions.

1 So they told me that I should, in any respect, meet

2 Mr Savelyev to understand where we are.

3 MR JUSTICE HILDYARD: But you were unable to do so, is your

4 evidence?

5 A. I sent quite a number of letters. As I said, I had

6 a number of appointments with him, but they cancelled

7 all these appointments without any reasoning of that,

8 and, you know, they were cancelling like, let’s say,

9 I should have a meeting, let’s say in half an hour, and

10 they call and say: sorry, it’s been cancelled.

11 So I thought: okay, he could be busy, but maybe …

12 we were trying to reschedule that and so on, so, but no

13 meetings with Savelyev since end of December 2008.

14 MR JUSTICE HILDYARD: Can I ask you on a point of detail in

15 {D105/1454/0.1}. You were taken to this and there was

16 extended cross-examination on it on Day 15.

17 A. I think yesterday, yes.

18 MR JUSTICE HILDYARD: Yes, but I am not sure we focused on

19 the top one, the top e-mail I just wanted to ask you

20 about. This is an e-mail from, it appears, Ms Mironova,

21 of 22 December {D105/1454/1} and it is copied to you.

22 A. Yes, yes, yes.

23 MR JUSTICE HILDYARD: And she says:

24 «The sale-purchase agreement can also provide that

25 we pay for the shares with third-party promissory notes,

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1 rather than money.»

2 Who did you take the «we» to be that would be

3 purchasing the shares?

4 A. The Bank of St Petersburg, I presume, because for me,

5 she was representing the Bank, she was deputy head of

6 the office of the Bank, and, as discussed yesterday, all

7 these e-mails, so it was kind of her guesses, what could

8 be, I assume, and they have not been realised in

9 reality.

10 So the final version was completely different to

11 the initial her suggestions.

12 MR JUSTICE HILDYARD: But I have understood your evidence

13 correctly that from that and your expectation, you

14 understood the purchaser of the shares, subject to

15 the repo, to be the Bank?

16 A. Absolutely.

17 MR JUSTICE HILDYARD: And the other companies eventually

18 introduced, you say, only 30 December to be nominees, or

19 otherwise to be holding subject to the directions of

20 the Bank?

21 A. Absolutely.

22 MR JUSTICE HILDYARD: Yes.

23 You gave some evidence as to the difficulties of

24 getting to see Mr Savelyev in the best of times, because

25 he was on another floor, I think you said the fourth,

1 two parts, and on — he signs on both parts, let’s say,

2 family name, where to go, to whom to go, yes? Which

3 floor, which room and to which person, and the same on

4 my piece of paper.

5 Then I was coming to the office of, for example,

6 Mr Belykh. I think he had to sign my paper that

7 I returned back, so without this signature you would not

8 be allowed to leave the Bank, as far as I remember.

9 But then — so this is the first level of entrance,

10 and then you take an elevator, for example, coming,

11 I don’t remember, sixth floor, for example, where

12 Mr Savelyev is — it was Mr Savelyev, Guz … at least

13 two of them. I don’t remember.

14 MR JUSTICE HILDYARD: So the top folk in the Bank were on

15 the same floor?

16 A. No, no, Belykh was sitting on a different floor and

17 Savelyev and two or three of his deputies were sitting

18 on a separate floor.

19 MR JUSTICE HILDYARD: I see, yes.

20 A. And when you come there, again you show your passport,

21 and the person is, I think, writing in his own book. So

22 you don’t need to sign there, but it’s the policeman or

23 the security guard is — and then you were coming to

24 the waiting room of Mr Savelyev, and if Mr Savelyev

25 there, so it was always at least three bodyguards with

257 259

1 and even Mr Belykh, who was quite senior, couldn’t get

2 there without a special appointment, and any other

3 visitors were carefully vetted and there was a great

4 deal of security around him.

5 A. Absolutely, yes.

6 MR JUSTICE HILDYARD: Can you just remind me exactly, to

7 the best of your recollection; was there a book you had

8 to sign in?

9 A. Yes, yes, yes. You see, it was a lift on which you

10 enter the floor — so initially you come to the — when

11 you come to the entrance of the building, you have on

12 the right-hand side you have the cash machines, and then

13 you have a special entrance to the, let’s say, back

14 office of the Bank.

15 On this entrance you have a police officer who is

16 sitting there and who — you show him a passport and he

17 signs a permission on which floor, so he signs the

18 name — he signs in his book also. He signs the name

19 and which floor you are allowed to come, and I think on

20 that paper, when you leave the Bank, the person to whom

21 you were coming had to also sign. That’s the first

22 level.

23 MR JUSTICE HILDYARD: So sign it where? In a book or on

24 another piece of paper?

25 A. No, I think it’s kind of a piece of paper, contains from

1 big guns, like in American gangster movies, sitting

2 there while he was working, so he was really taking care

3 about this security.

4 MR JUSTICE HILDYARD: Were there video cameras?

5 A. Definitely it should be, I don’t remember exactly, but,

6 you know, it’s quite normal in the banks that all this

7 is recorded, absolutely. Especially for, you know, for

8 general security reasons of the Bank.

9 MR JUSTICE HILDYARD: You may not know this, and I can ask

10 others, but do you happen to know whether you were ever

11 warned that any of your conversations were to be taped?

12 Do you know whether, routinely, financial institutions

13 such as the Bank taped their conversations?

14 A. I don’t know. I don’t know.

15 MR JUSTICE HILDYARD: Mr Lord provided this article in

16 relation to Mr Dmitrienko.

17 A. I don’t have anything in common with this article.

18 MR JUSTICE HILDYARD: Sorry?

19 A. I haven’t been anyhow participating in the preparation

20 of this article, or I have not been supplying any

21 information, and I haven’t even been reading through

22 that. I have seen that article, I’ve seen, but

23 I haven’t even been reading through that.

24 MR JUSTICE HILDYARD: I was just concerned to know what your

25 position is as regards two aspects of the matter.

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1 I don’t know whether you have it there; do you have

2 a copy?

3 A. Yes, I have, yes.

4 MR JUSTICE HILDYARD: In the second to last paragraph on the

5 first page, which begins:

6 «According to the Arkhangelsky …»

7 Then in the second sentence, in the same paragraph

8 it says:

9 «The businessman added, as they reported in his

10 office, that different amounts had to be transferred

11 every time, also indicated in the e-mails.»

12 I didn’t understand the reference to «As they

13 reported in his office»; can you help me on that?

14 A. Sorry … sorry, I think it’s anyway not exactly correct

15 information.

16 So you are asking me about this page, second to

17 last?

18 MR JUSTICE HILDYARD: I’ll give you both and I’ll let you

19 know.

20 A. You see, I have not been giving any interviews to

21 anybody, let’s put it this way.

22 MR JUSTICE HILDYARD: Right. On the second page, it is the

23 same point, really, the end of the first paragraph on

24 that page. It ends:

25 «… explained the businessman’s representatives to

1 I was surprised to see it.

2 A. Your Lordship, I just want to confirm that I have not

3 been speaking to anybody. I have not been doing any

4 interviews, and referring to what you said a couple of

5 weeks, or three weeks ago, I’m trying to be rather

6 correct, still keep in mind that it’s really my personal

7 story and my personal catastrophe.

8 MR JUSTICE HILDYARD: Yes.

9 A. But I assume it’s extremely important to disseminate

10 most of the things done by the Bank during last six,

11 seven years, and public community, as well as

12 international banks and concerned — and partners of

13 the Bank; I think we have to bring that to their

14 attention at some stage, and I think they can make their

15 own judgements from the transcripts and the documents.

16 MR JUSTICE HILDYARD: Well, it’s a public trial, subject to

17 any directions given exceptionally, and that, I think,

18 should suffice.

19 I think my last question relates, and it is, again,

20 a point of detail — if you could go to the transcript

21 of Day 11, and I know it may be inaccurate, but what

22 I wanted to make sure that I had understood was the

23 difference you drew in your own mind — the reference

24 I have is 129, but it may not be absolutely accurate,

25 between the third party agreements, and that’s to say

261 263

1 B&A.»

2 I wondered whether you knew who they might be?

3 A. Just a moment, I should see it in he Russian.

4 Yes, B&A, I think it is the source which published

5 it.

6 MR JUSTICE HILDYARD: Some explanation was given by people

7 described as «the businessman’s representatives». Now,

8 you say it is not you; have you any idea who your

9 representatives might be?

10 A. The only — I assume, I don’t know. The only

11 representative who could be here is Madame Natalya

12 Khmelik, who is my press officer.

13 MR JUSTICE HILDYARD: I see, so she was relying, as it were,

14 on what she told herself?

15 A. Of course, I think so, yes. I have not been speaking

16 to —

17 MR JUSTICE HILDYARD: You are unclear as to the genesis of

18 this?

19 A. You see, I don’t know the story behind that.

20 I definitely seen it on the internet, I think yesterday,

21 or whatever, even today. I think it came today,

22 I think, yes?

23 MR JUSTICE HILDYARD: You see, I am bound to be interested

24 because we have, over the past few days, been quite

25 careful in the way that we go back to this episode, so

1 involving a direct debit arrangement. {Day11/129:1}

2 A. Yes.

3 MR JUSTICE HILDYARD: And the personal guarantees, which

4 have been the subject of much discussion.

5 My understanding is this, and you must correct me if

6 I am wrong, that you accept that you did enter into the

7 direct debit arrangements?

8 A. Yes, I assume. At least, not maybe in all of them, but

9 I think at least in most of them, yes.

10 MR JUSTICE HILDYARD: Yes, but you weren’t, as it were, set

11 against direct debit arrangements in the way that you

12 say you were set against personal guarantees? Maybe

13 «set against» — I’m sorry to confuse you with language.

14 You were adamant at all times in your language that

15 you did not and would never have signed personal

16 guarantees?

17 A. Absolutely.

18 MR JUSTICE HILDYARD: Of any kind?

19 A. Yes.

20 MR JUSTICE HILDYARD: You were agreeable to the possibility

21 that, at least on certain occasions and, indeed, as

22 a matter of fact you did on certain occasions sign what

23 were called three-party arrangements, which involved, to

24 my understanding, a direct debit arrangement?

25 A. Might be, but as far as I understood — sorry, as far as

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1 I was understanding, signing this direct debit agreement

2 would not bring any harm to me and if it helps to

3 the Bank for their reserving purposes, I couldn’t see

4 any difficulty in signing this. Because it doesn’t mean

5 it’s automatic, so it has to be, let’s say, initial

6 guarantee, and only then, and after the court hearing,

7 all these things, I think, could work.

8 MR JUSTICE HILDYARD: Yes.

9 A. So I think that these three-party agreements themselves

10 were not bringing me any harm at all.

11 MR JUSTICE HILDYARD: Did you focus at all, or did it simply

12 not enter your head, whether personal guarantees would

13 affect any reserving by the Bank?

14 A. I don’t think so, because reserve — I don’t

15 really know how it works. I don’t know, actually —

16 I’ve been thinking about that many times, because on

17 some loans they were producing, whatever, five to ten

18 different securities, like mortgages, guarantees and so

19 on, and in some there were just very few, so …

20 In fact, the regulation was changing also, so

21 I don’t know how they were doing that. I am not

22 a banker myself, and I don’t know, let’s say, what type

23 of the games they are playing with the Central Bank

24 regulation authorities.

25 MR JUSTICE HILDYARD: There was one further, completely

1 MR LORD: No, my Lord.

2 A. My Lordship, may I just make a very small final comment

3 point, just a technical one, if possible?

4 They are referring to what been told, I think,

5 yesterday or day before, about Mr Smirnov.

6 MR JUSTICE HILDYARD: Well, this is not on the public

7 record, so can we finish your cross-examination —

8 A. Yes, and I just want to raise this question if possible.

9 MR JUSTICE HILDYARD: Yes, you want to raise it, but this is

10 a very different matter.

11 A. I have some evidences to show you —

12 MR JUSTICE HILDYARD: I don’t want you to speak at all about

13 this. I want to ask Mr Lord when we have concluded your

14 examination.

15 Any questions? No?

16 MR LORD: Sorry, my Lord. No.

17 MR JUSTICE HILDYARD: Dr Arkhangelsky, it has been a very

18 long haul and you have maintained your focus and

19 concentration, and I am grateful for it, and thank

20 you —

21 A. Thank you once again for the opportunity to do this.

22 MR JUSTICE HILDYARD: Thank you very much for your

23 assistance, and it has certainly been very helpful to

24 meet you in person, because even the wonders of

25 technology don’t really enable one to meet someone over

265 267
1 different question, and you may not be able to answer 1 the lines.
2 this, but I think you gave evidence earlier this 2 A. Absolutely, thank you.
3 afternoon that whereas in the past, documents which 3 MR JUSTICE HILDYARD: Good. Thank you.
4 committed a corporation governed by Russian law had to 4 That, I think, concludes the public hearing. If we
5 have a seal on them, you thought that some six months 5 are to deal with any other matter, then it must be in
6 ago, that that had changed? 6 private.
7 A. Yes, I think so, yes. 7 MR LORD: My Lord, just one point in public before we do
8 MR JUSTICE HILDYARD: That’s your understanding of 8 that.
9 the position? 9 MR JUSTICE HILDYARD: Yes.
10 A. Yes, yes, I think so. 10 MR LORD: I’m sure this is possible, but could Magnum
11 MR JUSTICE HILDYARD: It is a matter of Russian law 11 arrange that this afternoon’s, the sort of video and
12 ultimately. 12 photographic demonstrations, as it were, that there be
13 A. At least I read about this on the internet, and it was 13 a record of that on Magnum somewhere? I don’t know if
14 changed something like 1 June or July, or something like 14 that’s possible, that there could be a record of that,
15 that, rather recently, that you don’t need any stamp any 15 so we have a separate file or an archive of what
16 more. 16 happened this afternoon, so we can see what’s shown and
17 MR JUSTICE HILDYARD: But your knowledge is derived from the 17 what was said. I don’t know if that could be produced,
18 internet? 18 because that would certainly help, I think, for us,
19 A. Yes, I’m not really that much following Russian 19 subsequently.
20 legislation, or whatever. Not any more. 20 MR JUSTICE HILDYARD: I don’t know; are they nodding?
21 MR JUSTICE HILDYARD: Right. 21 MR LORD: They are not nodding vigorously; they are
22 Well, I hope that you feel that you have had 22 half-heartedly nodding.
23 an opportunity to correct or to add to your evidence, 23 MR JUSTICE HILDYARD: Well, to the extent it is possible,
24 Dr Arkhangelsky. I will ask Mr Lord whether he has any 24 I understand the request.
25 questions arising from anything that’s emerged? 25 MR LORD: Thank you, my Lord.
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1 MR JUSTICE HILDYARD: By the way, on the Russian stream, 1 [REDACTED]
2 I had a look at the letter. I think this is Mr Birt’s 2
3 bag, as it were. I haven’t got the letter with me. 3
4 I was a little bit concerned. I didn’t know whether 4
5 witnesses did have access to the Magnum feed. I quite 5
6 understand that they would get transcripts, but I didn’t 6
7 realise they could key in, including to the private 7
8 stuff. I don’t think it would be appropriate if they 8
9 did, but I think the letter needs amending. I think 9
10 only persons who have rights to access the Magnum, and 10
11 I would like to know who those are, should be within 11
12 that aspect of the matter, unless any private aspects 12
13 could be cauterised; do you see what I mean? 13
14 MR BIRT: My Lord, yes — 14
15 MR JUSTICE HILDYARD: I think it is just a little bit broad. 15
16 The broader these things are, the more danger there is 16
17 of two things: one is private matters get disseminated 17
18 wrongly, but secondly, it is that this, ultimately, 18
19 private transcript might be disseminated, but more 19
20 broadly than would be appropriate, because the club is 20
21 too broadly defined. 21
22 MR BIRT: Yes, I think this letter was dealing, obviously, 22
23 only with the availability of the audio recording. 23
24 MR JUSTICE HILDYARD: Of the audio. 24
25 MR BIRT: And I don’t know, because — I will have to speak 25
269 271
1 to them later; I don’t know whether the idea was that 1 [REDACTED]
2 witnesses — much as Mrs Arkhangelskaya wishes to listen 2
3 to it in the Russian — 3
4 MR JUSTICE HILDYARD: I think parties are in a different 4
5 position than witnesses. Dr Arkhangelsky and his wife 5
6 have asked for this and must have it. 6
7 MR BIRT: Yes. 7
8 MR JUSTICE HILDYARD: If your people who have conduct of 8
9 the proceedings, and who have visiting rights to 9
10 the transcripts, and who are, I think, identified and 10
11 who fully understand their obligations in this regard, 11
12 that is fine, but I don’t presently think that it should 12
13 be made more broadly available. Not insinuating any 13
14 anticipated misconduct, but just, I think, in the way of 14
15 things, the tighter it is drawn, the better. 15
16 MR BIRT: I fully understand. I don’t know why that was 16
17 inserted, there may have been a separate reason. If 17
18 that’s not a problem, we will deal with it. If there is 18
19 a point, I will come back to my Lord. 19
20 MR JUSTICE HILDYARD: Thank you very much. Does that 20
21 conclude the public? 21
22 MR LORD: I think so, my Lord, yes. 22
23 MR JUSTICE HILDYARD: Are we then to have a private session? 23
24 (Hearing in private) 24
25 [REDACTED] 25
270 272
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February 24, 2016 Day 16 — Redacted

1 [REDACTED] 1 [REDACTED]
2 2
3 3
4 4
5 5
6 6
7 7
8 8
9 9
10 10
11 11 (Hearing in open court)
12 12 Housekeeping
13 13 MR JUSTICE HILDYARD: Now, tomorrow, we, as far as I know,
14 14 unless a miracle has happened, are still unable, through
15 15 our own devices, to contact base camp, or for that
16 16 matter, Magnum.
17 17 I will at least effect to be doing some work
18 18 tomorrow, and I’m not quite sure how to do it. You may
19 19 all be working at home, in your hotel, I don’t know.
20 20 I don’t know whether I could access at least the Magnum
21 21 system in some way.
22 22 MR LORD: I know, your Lordship, you may not wish to, but
23 23 I think the building will obviously be open. It is open
24 24 from 8.00 until 8.00 I think, every day.
25 25 MR JUSTICE HILDYARD: Yes.
273 275
1 [REDACTED] 1 MR LORD: I know that may not be what your Lordship had in
2 2 mind. I won’t be working here, I will be working —
3 3 MR JUSTICE HILDYARD: No, it is simply if I could come in,
4 4 if my machine could be made to work so that I —
5 5 MR LORD: We might have to have a person from Magnum here to
6 6 get you going tomorrow.
7 7 MR JUSTICE HILDYARD: I do apologise for that. Would you be
8 8 here? Yes.
9 9 Then I will sit here, if no one else is going to be,
10 10 and I shall, with your permission, have a look at the
11 11 files around the place. I won’t be here all day.
12 12 I won’t pretend otherwise, but I do want to get some
13 13 work under my belt.
14 14 MR LORD: I understand.
15 15 MR JUSTICE HILDYARD: Otherwise, presumably you have
16 16 a difficult preparatory day. Can we decide when we are
17 17 going to start and when we are going to finish with
18 18 Mrs Arkhangelskaya?
19 19 MR LORD: My Lord, could we maybe start at 9.45, if that is
20 20 not too inconvenient to Mrs Arkhangelskaya?
21 21 MR ARKHANGELSKY: I think you already suggested that and
22 22 I told her 9.45 on Friday.
23 23 MR JUSTICE HILDYARD: 9.45, and then I will disappear in
24 24 a clap of thunder no later than 3.45.
25 25 MR LORD: I understand.
274 276
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February 24, 2016 Day 16 — Redacted

1 MR JUSTICE HILDYARD: But 9.45 is early enough, is it, for

2 those purposes?

3 MR LORD: I think so, my Lord, I think so. Yes.

4 MR JUSTICE HILDYARD: You must be very tired, both of you.

5 I am very grateful to you both. It has been a very long

6 slog and I think very efficiently done.

7 Thank you.

8 (6.03 pm)

9 (The court adjourned until 9.45 am on

10 Friday, 26 February 2016)

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

277

1 INDEX
2 PAGE
3 Housekeeping ………………………………….. 1
4 MR VITALY DMITRIEVICH ARKHANGELSKY ………………22
5 (continued) …..
Cross-examination by MR LORD (continued) 22
6 (Hearing in private) …………………………. 121
7 (Hearing in open court) ………………………. 146
8 Presentation by DR ARKHANGELSKY …………. 184
9 Submissions by DR ARKHANGELSKY ………….. 205
10 Questions by MR JUSTICE HILDYARD ………… 247
11 (Hearing in private) …………………………. 270
12 (Hearing in open court) ………………………. 275
13 Housekeeping ………………………………… 275
14
15
16
17
18
19
20
21
22
23
24
25

278
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279

February 24, 2016 Day 16 — Redacted

A

A1/2/53 (2) 30:2,4 A1/2/54 (1) 31:7 A1/2/73 (2) 23:12,24 A1/2/74 (1) 24:1 A1/2/75 (1) 24:1 A1/2/8 (1) 23:13 A14 (1) 19:4

AA (1) 224:12

AAA (1) 224:12 ability (5) 31:12,17

32:21 33:1 179:24 able (24) 3:25 21:3

26:5 38:18 60:6 92:17 106:14,18 157:18 168:18 179:14 189:5 216:25 229:4 237:4 237:16 246:18 249:5 250:18,22 251:2 253:8 255:24 266:1

Ablyazov (1) 41:6 ABP (1) 108:3 abroad (8) 64:13

167:14 169:13,16 169:23 224:3,5 250:22

absence (1) 12:21 absolute (2) 163:23

195:3 absolutely (109) 6:3

11:4 22:5 24:4,7,12 30:14,23 31:1,3,14 31:16,19,19 32:10 34:2 36:16 41:25 45:12,19 50:14 51:6 57:9 60:15 62:16 63:5,18 66:4 66:19 68:12 71:25 72:5,14,19 73:3,12 73:21 77:24 78:7 78:12,23 81:6,6 88:5,14 98:22 103:5 117:13,20 120:3 121:8 153:4 153:11 154:16 160:3 163:3,4,22 164:8 165:5,20 166:1,11,16 167:2 167:7 170:21 173:16,18 178:1,16 178:19,22 180:1,7 182:20 185:2 204:17 208:24 209:15 213:5 225:17,20 227:4 228:5 230:6 232:23 232:23,23 233:2 238:9,12 239:20 247:7 248:1,24,24 251:19,24 252:4,24 253:24 257:16,21 258:5 260:7 263:24 264:17 268:2

accelerate (1) 57:13 accept (12) 15:20
36:25 73:8 74:8 75:15 105:20 107:12 157:15 166:23 220:7 229:13 264:6

accepted (10) 28:9 69:11 73:3,5 75:12 218:9,16 222:18 223:12 244:23

access (11) 7:5 9:14 16:1 149:14 150:1

150:3 205:19 220:6 75:17 180:5 85:18 250:18,19 17:6,10,13,17 18:5 243:15 246:24
269:5,10 275:20 advantage (1) 75:11 allege (9) 30:24 47:4 276:7 18:9 19:9,15 20:1,5 247:2,7 261:6
accidentally (1) 59:1 advantages (1) 25:15 49:24 50:3 63:11 apparent (2) 104:1,17 20:10,18,23 21:4 266:24 267:17
accidents (1) 113:25 advice (9) 116:5 64:21 83:21 179:13 apparently (4) 161:14 21:15,18,20 22:13 270:5 276:21 278:4
accompany (1) 55:9 167:19 168:3,14,15 179:22 161:18 162:6,7 22:21,24 23:1 24:2 278:8,9
accompanying (1) 176:5,18 217:9 alleged (8) 13:8 23:15 Appeal (2) 39:19 40:7 24:19 27:8 28:1,13 Arkhangelsky’s (3)
56:21 252:25 41:22 48:25 84:20 appear (7) 14:16 29:9 35:6 39:1 20:21 36:12 74:17
account (2) 227:22 advising (1) 169:22 84:22 163:17 57:20 90:4 91:20 40:10 41:13,22 army (1) 11:7
248:20 advisory (3) 244:14,24 177:23 205:13 215:8 217:5 42:6,20 45:25 arrange (1) 268:11
accountant (1) 149:21 245:10 alleging (3) 35:7 46:9 appeared (5) 5:7 39:9 46:19 47:2,12 48:7 arrangement (2)
accounting (4) 227:8,9 advocate (4) 39:14,15 82:6 95:4 174:6 180:8 48:22 49:23,24 264:1,24
227:14,22 40:4 209:23 allocated (1) 88:11 appearing (1) 215:11 50:12 51:4 52:10 arrangements (4)
accounts (9) 120:20 advocates (1) 39:24 allow (5) 52:2 183:7 appears (11) 2:23 54:2,7 56:8 57:16 100:19 264:7,11,23
148:25 226:19 aeroplane (1) 55:8 205:2 208:15 233:7 21:21 47:3 52:12 59:3 60:5,12 61:5 arrangers (2) 78:6,8
227:4 228:2 238:17 affect (1) 265:13 allowed (15) 19:9 52:15 87:20,22 62:5,8 63:1,9 67:8 arrest (5) 24:15 34:15
247:16 248:7,23 affidavit (20) 32:11 39:14,25 41:4,6,9 102:4 168:24 176:7 68:8 71:12 73:8,25 106:22 252:18
accreditation (1) 48:2 91:11 92:22 58:10 83:17 168:22 256:20 74:7 77:20 80:2 253:12
223:4 95:17 99:14,16 184:16 192:17,23 appendix (2) 1:19 81:21 82:3,19 83:2 arrested (3) 106:1
accredited (2) 223:8 101:7,8,10,17 193:13 258:19 23:19 84:2,18 85:17,20 107:2 253:19
223:12 119:10 120:22 259:8 application (7) 38:10 88:21 89:2,16 arrived (1) 202:17
accurate (2) 228:9 121:9 155:25 altogether (4) 3:10 210:17,18 215:18 91:12 93:17 94:10 article (14) 169:15,17
263:24 157:10 162:3,18,22 103:16,17 147:10 216:5,12 235:24 94:16 95:18 96:23 174:10,17,18,21
accusation (1) 35:24 163:14 Ameli (3) 39:1 40:15 applied (2) 5:14 34:22 96:25 97:19,25 175:3 176:12
accuse (1) 177:19 affidavits (1) 94:15 167:20 applies (1) 2:7 99:2 101:2,10 180:11,16 260:15
acknowledge (1) affixed (1) 148:22 Ameli’s (4) 32:3 38:24 apply (1) 36:2 102:5 103:25 260:17,20,22
158:5 afford (1) 164:6 40:13 94:15 applying (1) 43:18 104:14 105:14 articles (4) 49:7 159:7
acquire (2) 80:9 100:5 afforded (1) 205:15 amending (1) 269:9 appointment (2) 45:3 107:23 108:7 176:7,14
acquired (4) 99:9,23 afloat (1) 250:1 American (1) 260:1 258:2 111:18 115:5,10 asked (25) 17:12 18:7
187:12 194:1 afraid (4) 42:8 53:13 amount (7) 97:15,16 appointments (2) 116:13,16,17,23 22:10 26:22 42:15
acquiring (1) 227:23 109:21 148:4 117:20 147:4 182:6 256:6,7 117:3,22 118:17 70:15,19,24 90:8
acquisition (6) 67:13 afternoon (4) 51:17 218:8 242:18 appreciate (1) 206:21 119:16 147:9,16 100:17 104:4
97:18 98:8,10 147:20 266:3 amounts (4) 96:24 appreciated (1) 12:23 148:7 149:8 150:14 109:15 149:24
112:8 173:7 268:16 164:12 250:15 appreciation (1) 57:15 150:20 153:24 150:3 154:7 164:9
acquisitions (3) 96:18 afternoon’s (1) 261:10 approach (4) 113:2 155:2,5,20 157:8 165:7 186:24
160:12 227:18 268:11 analysed (1) 73:4 152:21 154:25 157:20 161:2,9 202:21 203:18,22
act (1) 148:15 agencies (4) 56:22 analysis (2) 227:11 177:12 163:24 164:5 212:9 255:4,5
acting (1) 215:1 245:16 246:3,4 230:3 approaching (3) 78:15 165:21 166:23 270:6
actions (3) 30:25 31:4 agency (6) 180:23 and/or (2) 116:20 177:15,17 168:16 169:5 asking (12) 17:13
192:17 181:1 225:22,23 152:23 appropriate (6) 8:18 170:10 171:1 172:3 28:25 36:22 53:5
active (2) 54:25 90:14 226:7 246:4 Andrei (3) 64:24 66:6 52:8 73:2 74:14 173:12,24 175:24 56:14 57:16 114:16
actively (6) 116:23 aggressive (1) 50:9 68:3 269:8,20 177:1 178:14 180:4 114:23 115:1
193:11 245:1,10,11 ago (11) 92:8 116:3 animosity (1) 66:13 approve (2) 160:1 180:14,22 181:12 153:12 157:25
246:1 158:18 181:8 185:4 annotation (2) 12:1 172:3 182:17,20,24 261:16
actual (3) 45:5,7,9 196:8 229:17 13:4 approved (1) 25:17 183:11,17 184:3,13 asks (1) 89:16
adamant (1) 264:14 230:22 238:5 263:5 annual (2) 149:3,21 approximately (2) 184:15 185:21,24 aspect (2) 227:12
add (4) 16:3 43:1 266:6 annum (1) 79:17 117:23 164:19 186:6,10,15,19,22 269:12
228:2 266:23 agree (12) 29:23 answer (17) 15:7 42:8 April (14) 28:13 29:10 187:24 188:1,3,13 aspects (2) 260:25
added (1) 261:9 71:14 78:5 82:3 42:18,20 43:2 71:4 29:22 54:22,23 188:16,21,25 189:9 269:12
addition (1) 236:24 88:9 99:11 102:17 71:5 96:15 121:10 58:5 59:21 60:7 189:11,14,23 190:3 assemble (1) 206:17
additional (10) 9:23 102:23 103:1,7 154:24 157:19 197:2 198:16 199:6 190:16,19,22 191:2 assembled (1) 22:23
72:10 73:23 80:9 112:10 207:2 159:13 162:9 199:17 223:1 255:9 191:6,9,21 192:1 assert (2) 56:25 57:2
160:11 231:2,11,15 agreeable (1) 264:20 207:19 225:12 arbitration (2) 243:23 193:16 194:16,21 assertions (1) 206:25
240:3 251:25 agreed (2) 171:22 253:20 266:1 244:4 195:10,15,20,22 assessed (1) 253:22
additionally (1) 172:4 answered (2) 89:15 archive (1) 268:15 196:7,19,23 197:9 assessment (1)
205:17 agreeing (1) 245:19 255:5 archives (2) 201:5 197:18,22 198:3,15 150:13
additions (1) 239:21 agreement (5) 34:12 answers (8) 42:25 229:18 199:2,10,12,15,24 asset (17) 68:19 69:20
address (4) 22:16 70:2 242:7 256:24 70:22 115:6,13,20 area (8) 27:21,22,22 200:6,13 201:7,13 71:19 72:2,2,6,6,23
208:23 209:3 265:1 116:8 150:15,15 153:15 178:6 202:4,10,13,19,21 72:24 75:13 96:9
210:19 agreements (10) 23:1 anti-corruption (3) 187:10 227:5 203:4,25 204:6,12 99:5,18,24 101:19
addressed (2) 59:4 23:6 24:3 100:14 155:7 156:7,12 244:21 204:17,21 205:2,6 236:11 244:9
255:19 159:20 160:11 anticipate (1) 53:15 argument (2) 167:7 205:11,12,21 206:9 assets (30) 24:16
adequate (1) 228:15 224:18 226:5 anticipated (1) 270:14 212:24 207:1,21 211:7,13 50:22 63:19 65:23
adjourned (1) 277:9 263:25 265:9 anxious (2) 42:24 arises (1) 12:6 212:11,19 213:5 67:1 68:1 69:23
adjournment (2) Ah (3) 6:19 19:18 98:2 160:16 arising (3) 8:24 147:18 214:3,10,11,17,20 70:1 73:10 74:16
146:25 148:1 ahead (1) 159:19 anybody (14) 15:23 266:25 215:1,13,17 216:2 82:1 88:22 95:23
administrative (1) airport (3) 253:11,12 18:22 34:25 39:17 Arkhangelskaya (5) 216:24 217:4,15,21 96:19 99:19 114:13
168:2 253:15 39:24 157:6 172:5 89:22 117:17 270:2 219:5,16 220:2,5,8 115:16,18 151:5,7
administrator (1) Aix-en-Provence (3) 172:25 180:19 276:18,20 220:15 221:4,13,15 152:3,23 154:12,15
249:10 32:23 39:13,19 182:1 184:17 217:7 Arkhangelsky (343) 221:25 222:10,16 223:6,14 225:3,13
admissions (1) 75:6 Akort (7) 101:3 261:21 263:3 1:5,8,13 2:11,16,17 224:19,21 225:1,5 229:25 242:11
admit (1) 219:25 102:21 112:3,9 anyway (12) 32:16 2:18 3:2,17,20,21 225:17,20 226:2,6 assigned (1) 37:13
adoption (3) 34:1,6 150:8 153:17,19 43:13 116:8 121:9 6:3,9,12,15,18,21 226:11,14,18 228:1 assignment (1) 37:1
41:21 alerted (1) 115:12 164:3 182:25 6:23 7:6,19,22 8:2 228:17,21,24 assist (1) 179:15
advance (6) 27:18 alerting (1) 182:22 208:25 215:10 8:19,21 9:5,8 10:1 229:13 230:9,19 assistance (3) 168:3
63:16 74:12,13 allegation (6) 29:25 236:4 238:6 247:3 10:3,6,18 11:24 231:21 232:2,18,23 171:23 267:23
75:5 166:4 63:6 81:21 82:3,4 261:14 12:9,19 13:21,23 233:2,4,14 234:6 assistant (1) 171:23
advanced (2) 104:18 206:14 apart (2) 45:6 84:12 14:1,4,6,12,18,25 234:13 235:4,18,19 associated (3) 82:21
175:6 allegations (5) 6:2 apologies (1) 255:1 15:11,14,19,22 236:4 238:9,22,24 92:9 225:13
advancing (2) 74:21 163:3 175:15,17 apologise (5) 13:18 16:5,16,17,21 17:4 240:22 241:5 Association (5) 106:3

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280

February 24, 2016 Day 16 — Redacted

106:12,19 107:16 245:4

assume (56) 3:3 9:4,5 18:15,21 61:18 67:3 72:23 96:17 97:12,14,24 100:13 100:19 111:22 149:2,4,20 150:5 151:6,13 152:10 164:21 171:15 181:6,21 197:18 205:19 207:21,21 209:3 210:5,11,14 210:16,21 211:20 212:12 213:11 216:13 217:4 218:21 229:16 235:5 236:11,17 238:1 239:8,17 246:7,20 248:7 257:8 262:10 263:9 264:8

assumed (3) 97:5 225:8 237:19

assuming (3) 12:3

167:14 228:14 assumption (2) 34:9

210:1 assumptions (1)
218:23

atomic (5) 190:4,6

245:5,6,6

Atradius (1) 246:3 attach (1) 216:14 attached (4) 23:19

54:8 60:4 235:21 attaching (1) 148:14 attachments (3)

216:13 240:4,5 attack (1) 178:7 attempt (2) 63:13

152:20 attention (10) 13:13

41:1 89:13 185:12 221:5 244:7,11 246:15,21 263:14

attorney (35) 105:2 105:10,15,18 107:4 107:5,6,12,16 108:1,2 110:13,23 111:1,8,14,19,23 113:1 208:13,17,17 209:20,23 210:21 210:24 212:3,20,25 214:23 215:2,22 216:9,14 217:5

attracted (1) 40:25 attributed (1) 189:7 auction (13) 64:18,21

65:2,15,22,24 66:6 67:14,20,24 68:9 68:11,18

auctions (2) 65:24

68:17

audio (4) 60:19,21

269:23,24

August (10) 34:20 38:9 61:18 70:16 102:20 195:11 196:4,6,7 237:9

authentic (5) 5:10 7:4 12:10,17 13:5 authenticity (5) 17:21 19:22 20:11 23:17

23:22 authorise (2) 23:3

112:8 authorised (3) 12:18

81:14 169:2

authorising (1) 148:14 authorities (11) 27:24 31:13 49:13 56:12

93:15 156:6 179:25 194:4 237:3,6 265:24

authority (4) 172:2 175:5 233:10 237:15

automatic (1) 265:5 autumn (1) 65:23 availability (1) 269:23 available (12) 114:14

152:11 159:4 165:24 166:14 229:9 230:16 233:1 235:17 247:17 248:1 270:13

avoid (4) 34:4 166:9 172:10 207:13 avoidance (2) 148:24

202:4

await (1) 175:20 awaits (1) 169:12 aware (14) 13:13

35:12 45:12 50:22 51:6 91:1 115:25 155:12 159:2 178:1 178:3 193:1 209:15 251:22

awareness (1) 154:22 awkward (1) 11:15

B

B (1) 221:24

B- (1) 221:24

B&A (3) 181:16 262:1 262:4

B2/12/10 (1) 37:3 B2/12/26 (1) 37:10 back (31) 3:25 35:10 44:13 85:16,17 86:7 92:17 93:4 113:7 116:14 146:25 147:14 153:3 161:5,6 171:7 173:21 174:13,16 204:9

207:7 216:4 225:3 230:21 231:14 242:4 254:18 258:13 259:7 262:25 270:19

backed (1) 166:3 background (1) 25:7 backing (1) 156:5 bad (5) 10:7 188:23

191:17 194:11 225:15

bag (2) 113:21 269:3

Baker (1) 10:24 balance (4) 72:8,15,23

87:18

Baltic (7) 79:6 233:18 234:1,3,9,17 235:3 bank (190) 2:7,12 3:5

3:6 4:5 6:24 8:22 11:20 14:20 15:23 18:24 21:9 23:10 24:6,13 26:13 30:1 31:11,18,21,24 32:6 33:5,11,12 34:18,18,20,21 35:7,9 36:13,14,20 37:20 38:5,10 40:5 41:23 42:5 43:8 46:11 47:13 50:1,5 50:8,15,15,22 56:8

60:8 62:10,16,17 BB- (2) 222:2,4 222:19 245:6,13 briefly (3) 194:17
62:18 63:10,13,17 BBB (1) 224:16 250:13 217:18 242:4
63:21 64:3,15 BBB- (1) 222:4 billion (6) 77:17,21 brigades (1) 49:13
65:10 69:5 70:3 bear (1) 2:25 78:1 94:23 164:17 bring (11) 70:2 73:22
73:5 75:8,13,15 bearing (1) 13:14 242:19 75:14 93:11 172:22
76:16 77:25 78:18 becoming (1) 11:15 billions (1) 167:15 221:5 244:6,11
82:1,9,16 84:13,14 beer (2) 57:10,11 Birmingham (2) 185:8 246:20 263:13
84:16,21,23 97:17 began (1) 62:24 185:22 265:2
99:5 118:17,19 beginning (15) 6:20 biro (1) 14:15 bringing (1) 265:10
120:20 151:19 26:2 43:7,19 49:5 BIRT (5) 269:14,22,25 Bristows (2) 167:20
153:12 155:6 156:4 151:13,23 171:8 270:7,16 167:21
160:23 161:3 166:2 186:17 187:4,6 Birt’s (1) 269:2 British (5) 106:3,12,20
166:24,25 167:5,5 200:2 207:6 215:18 bit (24) 19:24 41:9 107:17 161:20
167:9,12,13,15,24 255:22 42:13 53:2 75:7 broad (1) 269:15
170:11,14,19 173:1 begins (1) 261:5 80:3 93:24,25 broader (1) 269:16
173:9 177:9,20,24 behalf (20) 38:25 39:9 94:12 99:11 118:7 broadly (3) 269:20,21
178:9,11,18,23 40:4 60:8 81:9,10 182:14 185:15 270:13
179:14,23 180:6 94:15 102:20 192:10 196:9 197:6 broker (2) 168:8,8
187:12 192:20 108:12 111:19 197:23 198:17 brokers (2) 224:8
193:16,16 195:17 148:15 149:25 200:8,9,25 233:15 225:7
198:11 202:6 208:8 160:19 161:2 269:4,15 brought (8) 38:6
209:1,6 210:16,19 171:18,21 207:13 bits (1) 204:25 72:10 193:17,18
213:14,15,18 207:17 215:11,13 blank (1) 20:14 202:25 238:4 250:5
216:17 222:6,21,23 behave (1) 177:18 blind (1) 53:7 252:13
222:24 223:4,9,10 believe (11) 22:6 23:9 Blinova (5) 18:22 Buchan (2) 224:8
229:23 231:22 59:6 173:17 184:19 19:19 20:5,12 22:4 225:6
233:19,22 235:14 215:20,24 216:6 blizzard (1) 32:5 building (4) 194:22,23
236:6,7,20 237:22 236:13,20 237:7 blocked (1) 193:18 258:11 275:23
238:2,15,17 239:2 believes (1) 113:17 blown (1) 94:11 buildings (4) 186:4,12
239:24 241:18,20 believing (1) 173:16 blue (2) 148:19 187:9 190:12
241:21,25 242:1,8 belong (2) 21:24 194:22 built (3) 17:16 88:12
242:11,16,20,23,24 190:13 BNP (1) 78:16 232:9
243:3,6,7,11,12,22 belonged (3) 187:10 board (9) 12:24 27:4 Bukovsky (1) 156:8
245:13,13,15,25 190:23,24 244:14,14,24,25 Bulgaria (5) 9:9
252:6 257:4,5,6,15 belonging (3) 72:6 245:1,10,24 209:16 251:16
257:20 258:14,20 210:16 213:13 bobs (1) 205:1 253:17 254:19
259:8,14 260:8,13 belongings (1) 254:15 bodies (1) 55:3 Bulgarian (2) 211:9
263:10,13 265:3,13 belongs (1) 249:8 body (1) 204:16 217:11
265:23 belt (2) 38:22 276:13 bodyguards (1) bundle (10) 1:12 3:4
bank’s (19) 3:15,25 Belykh (6) 255:5,6,10 259:25 23:2 88:25 89:7,10
4:5,9,12 5:14,14,17 258:1 259:6,16 book (6) 228:13,15 104:11 220:20,20
5:22 32:9 39:9 bench (2) 1:13 154:25 258:7,18,23 259:21 241:2
50:16 68:1 74:6,20 beneficiary (1) 177:9 books (1) 238:18 bundles (2) 3:16
82:13 193:6 195:23 benefit (5) 87:6 border (1) 190:5 58:23
233:24 164:25 165:3 bore (3) 66:12,16,17 bureaucrat (2) 58:2
banker (1) 265:22 205:14 214:12 boring (1) 41:20 163:21
banking (4) 69:25 benefited (1) 178:3 Borisova (1) 255:21 bureaucrats (2) 28:10
168:8 178:14 245:4 Bernier (2) 39:12 40:3 borrow (4) 69:9,19 55:17
bankruptcy (3) 117:9 berth (4) 80:4,6,13,19 99:5 166:2 business (43) 47:19
237:11 249:9 berthing (1) 80:5 borrowed (1) 169:16 54:17,25 57:24
bankrupted (1) 92:7 berths (10) 80:9,10,22 borrower (3) 99:7 68:24 69:2,3 74:16
banks (21) 29:13 83:9,10,14,15,17 169:12,18 76:20,21 77:1 78:3
62:10 67:17 69:9 194:22 196:14 borrowers (1) 169:22 80:14 82:20 93:5
69:10,14 70:2 73:4 best (11) 3:5 52:3 borrowing (1) 69:22 96:8 99:17,19
75:12 78:6,8 202:6 107:23 166:20 borrowings (1) 103:13 100:7 106:8 155:13
223:7,12 237:9 220:10 221:19 bottom (12) 7:22 8:5 159:2,15,19 168:1
241:13,15 242:15 222:9,12 226:7 8:18 10:9,13 15:1 168:11 181:1,13
255:16 260:6 257:24 258:7 20:22 65:7 91:14 186:6,15,16 187:3
263:12 bet (1) 225:16 112:20 113:4 198:2 197:10 218:12
bark (2) 196:20,21 better (10) 10:3 13:14 bought (9) 61:11 70:8 223:20,24 224:1,1
base (1) 275:15 15:7 118:6 155:17 70:9 71:1,24 72:4 224:15 238:11
based (15) 34:9 39:21 171:14 176:10 72:10 97:15,20 241:19,23 251:5
44:18 58:14 69:24 182:9 239:6 270:15 bound (1) 262:23 businesses (10) 62:24
110:14 116:2 168:9 beyond (2) 175:9 box (6) 5:3,7 8:8 9:21 63:2,14,25 64:1
168:14 179:10 206:18 9:22 40:12 73:17 90:16 156:5
198:3 210:24 big (24) 27:21 41:8 boxes (1) 4:10 168:19 223:6
218:23 247:18 45:13 61:25 71:18 boy (1) 226:23 businessman (4) 41:3
249:23 71:20 75:11 77:24 break (17) 14:3 21:13 41:8 180:21 261:9
basic (1) 236:15 106:2 109:16 51:10 52:7 53:25 businessman’s (4)
basically (1) 83:13 159:15 178:7,7 93:19,23 94:8 181:2,15 261:25
basis (22) 31:20 32:20 193:9 194:5 198:20 146:24 147:2,15 262:7
33:3,24 35:7 46:9 198:24 200:10 182:14 183:9,13 businessmen (5) 55:8
68:16,17 71:18 219:16 220:25 184:1 205:9 247:1 55:12,12 56:21
82:20 117:19 233:5 251:11,11 breakers (1) 245:6 58:6
118:14 172:7 180:4 260:1 bribe (1) 180:12 busy (4) 38:3 184:24
197:10 214:4 215:2 bigger (4) 62:17 79:23 bribery (1) 73:18 201:11 256:11
224:7,23 226:1,9 79:25 198:17 bribing (1) 180:22 buy (5) 69:19 71:23
236:14 biggest (9) 28:8 55:6 brief (1) 206:7 106:6 112:3 247:19
baton (1) 198:8 61:11 69:18 75:9 briefing (1) 206:19 buying (3) 69:23

80:20 99:4 BVI (15) 32:11,14

47:24 84:7 93:10 160:20,24 162:1,16 163:14 166:17,18 166:20 167:11,23

C

C1/1/10 (4) 76:21 84:17,24 86:11
C1/1/14 (1) 179:12 C1/1/17 (2) 46:17

47:4

C1/1/18 (3) 31:10 46:17 179:22

C1/1/26 (2) 76:23 77:7

C1/1/4 (1) 38:14 C1/1/41 (1) 46:23 C1/1/53 (2) 64:16

87:12

C1/1/58 (1) 83:19 C1/1/6 (1) 155:10 C1/1/63 (1) 154:2 C1/1/7 (1) 63:8 C1/4/4 (1) 38:24 calculated (2) 30:17

225:8

calculation (1) 219:21 call (6) 109:20 168:2 198:22 248:5,18

256:10 called (15) 47:22

48:18 49:1 57:5 65:2 86:14 149:18 195:10 224:8 233:9 249:8,15 251:3,4 264:23

calling (1) 253:15 calls (1) 109:19 cameras (1) 260:4 camp (1) 275:15 campaign (3) 30:12 156:3 178:21 campaigner (1) 155:8 campaigners (1) 156:8 cancel (2) 110:14,15 cancelled (3) 110:13

256:6,10 cancelling (1) 256:8 Cannes (2) 61:10,11 capacity (6) 79:15,20

79:21,23 209:9,11 capture (1) 75:24 captured (1) 156:4 car (6) 79:3 190:17

193:20 198:24 199:21,22

care (6) 11:21 178:23 190:18,19 247:10 260:2

careful (4) 227:2,24 228:14 262:25 carefully (2) 158:11

258:3

cargo (4) 77:9 194:2,9 198:23

caring (1) 50:10 carried (1) 108:8 carry (2) 16:17 168:18 cars (10) 189:19,19,23

189:25 190:11,12 190:12,15 193:8 198:8

cartoon (2) 172:13,14 cartoons (1) 175:12 case (69) 3:11 5:12,23

6:1 8:11 15:9 16:19

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281
February 24, 2016 Day 16 — Redacted

22:4 23:14 24:5,9 changes (2) 72:12 closed (2) 11:6 156:15 60:10 62:9 64:5,10 226:18 252:8 50:16 64:22 68:10 4:20 5:7,21 8:7,8

34:6,23 38:8 43:11 221:3 closing (4) 58:14 64:12 69:13,15,19 260:24 263:12 82:4,22 83:21 8:13 9:2,24 10:7
44:6,15 50:16 changing (3) 5:20,24 59:14 76:7 175:20 74:8,17 83:6,13,16 269:4 84:20,22 177:23 13:14 148:5
51:23 56:25 57:14 265:20 clothes (1) 39:13 90:1,5,13,17,18,21 concerning (2) 151:25 conspired (1) 56:9 copy (12) 1:14,24 54:3
68:17 74:6,11,12 chapter (1) 250:18 club (1) 269:20 90:23,24,25 91:19 154:5 constitutes (1) 236:18 60:1 89:3,5 104:10
74:13,20,21 75:2,5 charity (1) 56:5 co-founder (2) 156:11 91:20 92:18 100:12 concerns (1) 13:4 constraints (1) 36:24 110:10,11 148:11
75:12,18,24 76:6,7 chatting (1) 10:8 159:6 103:4,8,10 104:17 conclude (2) 147:21 construct (2) 27:21 171:9 261:2
102:25 106:17 check (11) 2:14 19:8 co-founders (1) 108:9 109:12,23 270:21 251:11 copy-paste (1) 209:5
149:24 156:2 33:8 49:14 83:2 158:18 112:10 114:23 concluded (2) 183:19 constructed (5) copying (1) 22:8
157:13 160:22 183:17 188:18 CoFrance (6) 168:1,11 116:24 117:5,6 267:13 186:16 187:3,4,5,8 core (4) 88:24 89:7,9
164:4 165:6,14 201:14 220:21,21 168:23 169:1,6,22 118:22,22 149:1 concludes (2) 182:4 construction (20) 104:11
167:10 169:24 234:8 cold (3) 93:24 94:1 151:12 152:3,13 268:4 25:18 26:14 70:4 corner (4) 7:23 16:25
172:24,25 173:6 checked (3) 18:11,18 204:12 165:11,18 192:21 conclusions (3) 227:1 158:24 231:2,2,5,7 17:7 196:11
175:9,11,16 178:7 209:3 collapse (1) 62:24 193:17 209:24 227:6,25 231:11,12,15,16,23 corporate (6) 63:7,10
179:20,21 208:14 checking (3) 114:6 colleague (1) 202:24 222:19,20,22 223:8 condition (2) 99:6 232:6,10 233:11 63:12 148:25 150:5
215:15 227:9 184:9 214:7 colleagues (1) 244:2 224:2,11,14 225:13 100:6 241:16,18 251:2,5 189:19
232:20 234:1 chess (1) 174:19 collect (2) 204:25 227:24 230:5 234:1 conditions (2) 99:13 consultancy (4) corporation (2) 220:9
239:20 242:7,16,19 Chicago (2) 25:24 252:16 234:2,10,11,16 160:11 100:14,18 159:20 266:4
242:22 246:21 55:23 collected (2) 152:11 235:13 238:15 conduct (1) 270:8 160:11 corporations (2) 69:16
247:6 250:23 253:1 chipboard (4) 24:24 236:12 247:12 248:18 conferences (1) 79:9 consultant (1) 168:9 178:6
cases (5) 33:25 44:1 25:5 26:18 249:19 collection (1) 198:18 249:14,15,18,25 confident (1) 26:5 consultants (1) 70:14 correct (21) 31:19
45:22 170:1 223:25 choices (1) 75:10 colonel (5) 6:20 7:5 250:23 257:17 confidential (3) 16:8 Consulting (1) 185:9 36:16 54:11,12,24
cash (4) 228:4 242:25 church (4) 56:3,5,6 9:15 193:11,21 companies’ (1) 91:23 119:22,24 consumes (1) 248:11 75:17 159:12
243:10 258:12 226:23 colours (2) 2:20 company (68) 25:5 confidentiality (2) contact (6) 109:14 162:10 164:18
cast (1) 152:21 circular (1) 24:23 186:24 49:6 65:2 66:4 119:14 171:17 149:9 151:20 153:1 205:20 207:9,23
catastrophe (1) 263:7 circumstances (8) combined (2) 226:14 67:13 69:4,6,11,17 Confidentially (2) 175:2 275:15 209:2 211:6 218:14
cause (3) 25:2 167:5 62:14 68:9 114:23 248:23 72:15 75:7 82:15 15:15,17 contacted (1) 167:20 218:24 221:8
178:17 117:12 152:6 come (27) 32:2 85:16 90:5,20,22 91:2,3,7 confine (1) 206:24 contacts (2) 28:5 261:14 263:6 264:5
caused (4) 32:6 165:22 205:13 85:17 92:17 93:4 91:8 93:14 96:7,8 confirm (12) 79:19 109:18 266:23
107:13 115:11 252:22 97:1,9 118:22 97:5 99:4,16 100:5 85:10 111:14 contain (1) 3:6 corrected (2) 229:11
202:16 cisterns (1) 198:22 146:25 147:14 100:10 106:4 116:17 168:6 container (1) 77:9 229:12
cauterised (1) 269:13 cities (1) 198:7 153:3 166:9 171:7 149:18 185:8,22,23 169:24 174:5 contains (1) 258:25 correction (2) 206:12
cease (1) 242:25 city (9) 64:25 68:4 176:25 192:23 193:6 209:12 202:24 223:5 contempt (1) 36:3 206:25
cent (22) 45:22 88:17 164:10 165:4 193:13 204:25 210:15 213:12,13 238:10 243:21 contend (1) 74:9 corrections (1) 207:2
102:21,22 112:3 223:9 236:23 207:7 227:1 235:24 215:7,12 217:6 263:2 contention (1) 29:21 correctly (2) 176:18
218:7,12,20 219:4 237:17 238:13 253:18 258:10,11 221:15,20,23 222:5 confirmation (1) contents (1) 58:19 257:13
219:6,6,11,19,20 civil (1) 32:5 258:19 259:20 222:14,17,22 223:5 168:20 context (4) 76:5 correspondence (7)
219:20,25 220:4,11 claim (26) 9:1 20:23 270:19 276:3 223:13,15,17,24 confirmed (5) 64:2 101:11 162:8 255:8 109:10 110:7
220:13,14 221:6,6 33:11 34:1 37:18 comes (7) 6:16 16:1 224:4,22 227:19 81:24 82:24 83:6 continue (3) 26:22 217:25,25 218:11
243:9 37:20,21 38:12,13 94:23 118:2 164:17 228:11 233:18 115:15 230:19 251:2 219:8,22
Central (6) 241:25 38:16 78:10 83:20 215:17 228:5 237:8,14 238:13 conflict (8) 24:12 66:5 continued (7) 22:24 corrupt (6) 57:1,3,7
242:1,20,24 243:11 83:24,25 84:7 coming (17) 49:12 243:18 248:5,16 210:2,3 212:23 22:25 47:7 55:1 157:15,16 163:21
265:23 156:25 167:15 77:1 88:15 95:4 249:8,9,10 250:6 213:6 214:21 223:3 117:7 278:4,5 corrupted (2) 46:10
centre (10) 164:10 172:25 206:17 100:17,20 108:19 250:13 confuse (1) 264:13 continuing (3) 62:18 57:11
165:4 186:7,15,16 208:7,13,19 215:17 108:21 157:11 comparative (1) confusing (1) 32:8 166:17 249:23 corruption (14) 49:18
187:3 236:23 231:9 236:6,8 242:4 253:1,11 194:12 connected (5) 31:2 contract (11) 78:13 73:19 154:18,22
237:17 238:13 claimants (7) 30:19 254:16 258:21 compared (10) 6:1 71:23 96:17 100:13 83:18 97:24,25 155:14,22 157:12
251:5 31:2 160:21,24 259:5,10,23 17:22 19:21,22 191:15 98:2,21 112:3 158:23 159:9,15
centres (1) 248:18 204:4 229:20 231:9 comment (16) 12:25 21:5,7,22,23 connection (8) 29:20 154:4,10,11,15 163:3 172:25 194:5
ceremony (2) 61:12 claimed (4) 172:5 58:16 162:7 175:11 117:20 200:1 29:24 35:4 57:25 contracts (4) 58:8 194:7
61:25 209:17 218:8 243:4 175:25 176:3 comparison (2) 18:21 73:22 74:7 75:19 80:21 98:21 249:14 corruptions (1) 57:12
certain (5) 105:1 claiming (7) 9:10 210:25 228:25 18:25 151:14 contrary (1) 36:2 cost (1) 77:14
114:24 157:22 10:20 87:8 108:5 236:5 238:20 242:6 complaint (7) 33:5 connections (6) 29:10 control (14) 57:6 costs (1) 227:23
264:21,22 207:15 237:18 243:15 244:5,6 34:17,19,25 35:3 29:14 31:11 62:3 117:4 165:19 176:9 Council (2) 54:8
certainly (5) 27:9 244:7 246:14 267:2 87:24 233:22 66:7 250:11 176:12 190:6 245:12
211:4 221:11 claims (7) 24:9 30:18 comments (10) 11:25 completed (1) 5:4 connotes (1) 206:13 192:21 197:2 counsel (2) 185:1
267:23 268:18 31:18 35:5 63:16 19:12 22:13 115:4 completely (7) 32:17 consent (4) 116:7 222:13 229:14 206:16
certification (3) 113:9 166:24 225:3 121:5 221:18 46:2 50:14 88:11 153:10,12,16 233:12,21 234:22 counterclaim (1)
113:11,18 clap (1) 276:24 236:23 239:25 88:17 257:10 consequences (1) 235:8 167:4
certified (1) 112:20 clarify (3) 7:15 213:20 240:3 241:5 265:25 115:24 controlled (3) 190:5 countries (1) 245:17
certify (1) 113:2 213:21 commerce (5) 55:11 completion (1) 8:8 consider (8) 10:16 233:5 248:3 country (3) 41:5
cetera (3) 5:8 8:10,10 clause (1) 224:23 55:14,25 56:23 complex (4) 24:25 53:1 56:14 57:16 controlling (2) 236:8 222:12 224:15
chairman (5) 27:4 clear (10) 47:2 72:8 244:17 25:10 226:20 76:2 92:8 150:16 237:10 couple (2) 245:8
66:10 244:16,23 74:4 84:18 121:8 commercial (5) 15:11 227:14 175:14 controls (1) 233:23 263:4
245:3 210:10 218:4 15:13,17 16:7 64:7 complicated (1) 190:8 considerable (1) controversial (2) course (48) 12:16,16
challenge (1) 68:16 219:10 220:2,5 commercially (1) 64:8 comprehensive (1) 182:6 120:13,14 32:7 40:11,11,24
chamber (7) 34:11 clearly (7) 154:24 commission (1) 228:10 consideration (2) convention (1) 39:22 40:24,24 52:7
55:11,14,25 56:22 205:24 208:16 185:19 computer (2) 113:22 44:14 102:25 conversations (2) 58:25 64:23 81:16
179:8 244:17 239:11,17,21 240:4 commissioned (1) 186:5 considered (6) 44:3 260:11,13 82:5,8 92:4 105:6
champion (1) 174:19 client (4) 99:7 100:2 185:18 concentrate (1) 94:6 99:8 225:6 232:3 cooperates (1) 67:24 109:25 115:4
chance (9) 12:25 53:6 166:22 253:18 committed (1) 266:4 concentration (1) 243:9 244:19 cooperating (2) 152:16,16,24
60:24 62:6 152:14 clients (10) 117:10 Committee’ (1) 267:19 considering (11) 26:1 108:16,17 153:18,20 155:9,12
167:15,18 220:6 121:5 152:17 166:4 156:12 concern (7) 12:4 13:3 69:12,12 152:6 cooperation (8) 78:15 159:17,17 164:11
246:15 170:6,8 172:10 common (1) 260:17 22:3 76:15 119:13 166:19 173:9 79:1 80:7 83:1,7,18 170:16 174:24
change (3) 117:8 185:25 223:22 community (1) 263:11 150:15 154:23 177:10 179:4 227:4 90:14 151:16 177:25 179:19
155:16 253:3 242:17 companies (85) 26:12 concerned (12) 2:10 230:4 246:18 copied (4) 3:1,12 182:8 185:21
changed (6) 48:19 clients’ (1) 202:2 26:15 28:8 47:19 109:22 115:1 consistently (1) 52:5 110:5 256:21 195:22 211:5
237:7,9,10 266:6 close (3) 31:11 175:2 48:15 49:9,10 55:6 151:10 164:12 consisting (1) 25:10 copies (19) 1:9 2:23 223:10 226:2,2,2,3
266:14 216:3 55:17 56:10 59:24 166:12 175:10 conspiracy (10) 30:13 2:24 3:2,5,6,15,24 226:3,3 228:11

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

282

February 24, 2016 Day 16 — Redacted

233:24 240:3 246:24 262:15

court (103) 9:9,15 32:19,20,23 33:14 33:22 35:11,23 36:1,3 39:14,18,19 40:1,3,7,19,20 43:16,24,25 44:2,8 44:20,24 45:3,11 46:6,10 146:20 149:23 152:2 153:7 157:7,10,14,22 161:20 162:1 163:10 165:23 169:2 172:16 180:12,21 192:14 201:21 203:4 204:14 206:2,2,4 207:12,16,23,25 208:4,5,14,20 209:10 210:7,11,17 210:18 211:18,22 212:14 213:22 214:3,5,6,9,22,25 215:8,14,16,21 216:5,8,12,16,22 216:23 218:22,25 219:17 227:2 229:3 235:12 239:7,11 244:4 246:21 249:11 253:5 265:6 275:11 277:9 278:7 278:12

court’s (1) 89:13 courts (9) 41:24 42:3

43:13 46:5 167:19 168:24 242:14 243:17,23

cover (4) 53:13 194:19 196:21 198:21

covered (10) 19:4 41:2 76:24 77:2 116:13 147:4 182:5 196:12 240:10,15

covering (1) 19:3 covers (1) 54:25 cranes (2) 187:23

191:5

created (8) 90:7 108:3 161:9 185:7 202:23 225:7 244:13 251:8

creation (1) 197:2 credibility (3) 157:11

157:22 175:15

creditor (3) 84:14

150:21,22 creditors (6) 24:11

84:12 154:13,15 251:21 252:1
credits (1) 94:18 criminal (16) 32:5 33:25 34:6,23

37:19 38:8 40:12 43:10 115:23,23,24 170:1 237:22,23 251:22 252:2

crisis (1) 243:8 critical (1) 243:2 criticising (1) 28:1 criticism (2) 75:1

235:14

cross (3) 13:16 190:5 255:4

cross-examination (…

22:25 38:11 42:2 51:13 52:13 81:25 82:24 90:10 147:22 154:8 180:18 182:2

182:4 183:20 184:17 204:2 205:18 239:11 240:9,25 243:25 256:16 267:7 278:5
cross-examine (2)

52:10 147:19 crucial (1) 243:2 crying (1) 244:1 culture (1) 61:9 current (5) 72:1 79:15

98:21 100:2 232:6 customers (1) 170:5 customs (2) 194:3

197:2

cut (3) 42:13,15,24 cut-through (1)

224:23

cuts (3) 191:23 192:18 203:5

CV (3) 54:3,12,24

Cyprus (5) 93:10 167:8,8,11,12

D

D (2) 3:8,16

D1/5/1 (3) 207:5,8 216:5

D1/5/2 (3) 207:6

208:11 216:15

D1/5/3 (3) 207:3,7

211:17

D1/5/4 (3) 207:6

208:11 216:15

D10/217.87/1 (2) 65:4 67:23

D10/217.87/2 (1)

65:13

D104/1408/1 (1)

26:24

D104/1408/2 (2)

26:24 27:2

D105/1454/0.1 (1)

256:15

D105/1454/1 (1)

256:21

D110/1570/1 (1) 59:1

D116 (2) 22:22 176:10

D116-something (1)

176:20

D116/1717.2/1 (2)

174:14 176:22

D116/1717.2/2 (1)

176:22

D117/1746/1 (1)

59:15

D117/1746/2 (1)

59:18

D117/1767/1 (1)

28:11

D117/1767/2 (1) 29:4

D117/1767/4 (1)

28:12

D117/1767/5 (1) 29:4

D136/2252.3/1 (1)

24:17

D136/2252.3/2 (1)

25:8

D136/2252.3/3 (1)

25:14

D138/2312/0.1 (2)

214:7 215:23

D138/2312/0.3 (1)

214:19

D138/2312/1 (1)

216:3

D138/2312/3 (1)

216:3

D142/2385.2/7 (1) Day12/101:15-18 (1) delay (1) 247:23 19:20 22:5 55:13 193:5 211:19 221:9
60:16 212:1 delegation (5) 55:24 56:1,22 66:14 discussed (32) 25:24
D142/2393/1 (1) Day12/122:1 (1) 57:24,25 58:1 71:25 72:5 80:16 28:19 31:23 55:23
105:4 211:3 106:2 85:14,15 86:2 90:9 67:2 68:20 79:9
D142/2393/2 (1) Day12/124:25 (1) delegations (8) 54:15 91:3 93:9 117:20 83:6 87:16 90:10
110:21 211:3 54:19 55:7,19,20 118:7 200:9 202:9 96:10 103:11 119:4
D142/2393/3 (1) Day13/172:5 (1) 56:19 57:21 58:9 206:12 227:1 228:5 158:23 162:1,16
105:7 70:22 Deliya (3) 108:24 228:6,6,19 234:16 163:9 164:15
D143/2400/1 (1) Day13/173:6 (1) 71:8 109:7 110:6 257:10 259:16 172:21 187:10
37:11 Day13/182:1 (1) demise (4) 83:20,25 261:10 265:18 192:13 195:12
D151/2522/1 (1) 221:1 84:1,19 266:1 267:10 270:4 211:9,14 215:18
33:13 days (14) 32:18 33:21 demonstrations (1) difficult (5) 7:23 38:3 217:11 239:23
D151/2522/15 (1) 41:11,12 61:9 268:12 243:5 254:10 240:6 242:5 243:25
34:10 113:24 149:10 denied (1) 23:17 276:16 244:3 257:6
D151/2522/4 (1) 185:3 192:9,13 deny (5) 16:19,21,21 difficulties (3) 13:20 discussing (4) 87:4
34:14 204:8 254:17,21 16:22 163:3 155:12 257:23 88:10 214:18
D156/2630/1 (3) 262:24 depended (1) 227:18 difficulty (1) 265:4 236:22
110:4 111:4 112:17 days’ (1) 109:6 depending (1) 147:6 diligence (8) 71:5,25 discussion (8) 8:22
D156/2630/2 (3) deal (8) 12:8 115:18 depends (2) 52:24,24 72:5,15,21 106:21 77:24 102:9 106:8
111:6 112:23,24 120:7 170:7 228:12 depicted (1) 230:12 107:17 236:12 193:9 218:5 255:2
D166/2833/1 (1) 258:4 268:5 270:18 depiction (1) 228:10 direct (10) 35:4 66:7 264:4
82:10 dealing (4) 105:1 deployed (1) 175:18 115:6 203:16 234:2 discussions (13) 9:9
D166/2835/1 (2) 115:15 120:17 depressed (1) 27:22 264:1,7,11,24 55:16 80:6,19 93:7
101:23 102:1 269:22 deprived (2) 9:16,17 265:1 93:9 106:13 151:15
D166/2835/2 (2) dealings (1) 115:21 deputies (1) 259:17 directed (3) 116:7,8 192:22 221:6
101:24 102:1 debate (1) 2:4 deputy (1) 257:5 230:17 226:19 242:15
D168/2855/1 (1) debit (5) 264:1,7,11 derive (1) 114:17 directing (1) 51:7 249:24
111:17 264:24 265:1 derived (1) 266:17 direction (2) 116:5 dishonesty (1) 82:4
D168/2855/2 (1) debts (1) 251:23 des (1) 61:10 203:11 disinclined (1) 117:10
112:13 deceived (1) 180:3 describe (2) 48:10 directions (2) 257:19 dismissive (2) 230:13
D168/2855/3 (2) December (16) 26:25 76:20 263:17 250:24
111:17 113:8 27:9 28:6 38:6 described (7) 56:18 directly (2) 34:22 dispose (1) 107:6
D174/2906/1 (1) 85:3 50:17,20 56:10 57:17 90:1 157:13 238:7 disposed (1) 233:23
D174/2906/5.1 (1) 57:19 97:22 98:13 168:19 240:17 director (9) 34:22 dispute (6) 23:21
85:19 98:20 156:16 262:7 82:25 83:5 106:5,6 170:11,13,18
D21/415/2 (1) 70:16 185:10 256:13,21 describes (2) 34:15 151:16 158:22 175:19 178:15
D51/2522/1 (1) 33:7 257:18 161:8 237:14 245:2 disputed (2) 1:20
D52/889/1 (1) 220:17 decide (7) 58:12 describing (1) 169:17 directors (2) 237:8,10 23:18
D52/889/6 (2) 220:22 73:24 75:3 147:12 description (1) 1:21 disagree (2) 173:7 disseminate (1) 263:9
220:25 175:12 216:19 designed (1) 166:25 206:10 disseminated (3)
D6/141/1 (2) 51:9 276:16 desire (1) 26:9 disappear (2) 238:12 159:5 269:17,19
54:2 decided (8) 27:20 desperate (1) 117:12 276:23 disseminating (2)
D64/1002/1 (1) 70:18 34:3,5 51:2 60:3 detail (2) 256:14 disappeared (3) 62:2 50:10 159:3
D64/1003/1 (1) 70:18 99:25 177:12 263:20 109:17 193:7 distracting (1) 32:8
D64/1010/1 (1) 79:4 218:21 detailed (1) 147:3 disappointed (3) 40:6 distributed (1) 148:5
D64/1010/11 (1) decision (13) 33:17,20 details (3) 11:14,17 40:8 229:23 distributors (2)
79:11 33:22 34:11 44:2,6 157:14 disavowed (1) 158:2 190:17,18
daily (1) 255:18 44:8,10,16 45:20 determine (1) 75:20 discharge (1) 117:7 district (3) 27:12
damage (4) 73:10 167:11 253:8 determined (1) disclose (2) 16:12 85:13 87:3
178:18,24 233:12 254:10 157:11 188:24 divider (2) 89:1,10
damaged (1) 73:19 decisions (3) 45:16 develop (6) 26:6 77:8 disclosed (41) 2:13 Dmitrienko (4) 100:18
danger (2) 176:13 227:9 254:25 77:22 78:10,19 4:15,17 5:1 16:12 180:13,24 260:16
269:16 declarations (1) 149:3 80:8 16:13,16 18:6 DMITRIEVICH (2)
dangerous (5) 232:4,4 default (4) 242:9,13 developed (2) 93:13 22:12 51:8 58:18 22:24 278:4
243:5 253:6 254:13 242:17 243:10 187:19 60:18 79:5 118:18 Dmitry (1) 180:24
Danish (1) 246:3 defaulted (2) 63:2 developing (3) 54:16 152:9 182:18 184:5 Doctor (1) 23:5
date (13) 15:3 36:17 242:22 78:22 250:8 184:8,12,18 185:3 document (105) 1:21
37:12 98:1,2 defence (3) 169:17,23 development (18) 191:14,25 192:4 2:7,8 4:2,21 5:15
108:25 114:19 242:14 24:24 49:7 60:13 200:21,22 201:3,6 5:20,20,21,23
149:15 161:10 Defence’ (1) 156:12 70:4,6 72:24 73:7 201:7,8,14,17 14:12,22 17:6,14
208:6,17 215:9,25 defend (2) 167:17 77:15,25 78:9,17 202:14 204:5 17:18,23 18:16,24
dated (11) 24:21 246:16 80:18 187:11 229:21 231:4,17 19:2,15,18 20:10
26:25 33:16 98:18 defendants (7) 9:16 229:18 235:10 232:25 233:16 20:15,16,20 21:2
102:4 148:23 23:21 30:18 38:25 245:12 249:4,5 239:10 247:21 21:15,25 23:22
195:11 196:7 200:6 58:19 160:20,21 device (3) 35:21 36:1 disclosure (24) 3:7 24:18 25:3,4 79:5
223:1 230:5 defendants’ (3) 1:19 198:25 17:25 24:18 36:18 82:10 86:1 101:6
dates (2) 97:19 98:1 30:24 82:11 devices (2) 199:13 36:21 59:16 82:1 102:7,7,8,10,13,15
dating (1) 98:21 defending (1) 30:25 275:15 82:11,18 115:16,19 102:15,16 103:19
daunting (1) 191:20 defensive (1) 166:25 devoted (1) 11:7 115:21 116:1,2 105:20 111:24
day (13) 11:8 93:4 defined (1) 269:21 dictate (1) 53:3 117:25 118:16,19 112:1 113:16
100:16 113:23 definitely (17) 40:1 died (2) 151:19 176:25 184:20 148:18,21,23 171:1
164:16 229:1 253:4 62:2 78:1 111:25 245:20 201:2 203:12,14 172:1 196:24 197:1
256:16 263:21 119:15 159:4 Dieffenbacher (2) 214:7 222:25 197:9 198:4 207:9
267:5 275:24 184:18 195:12 26:17 249:16 discover (1) 7:3 207:11,11,16,24
276:11,16 230:23 242:9 difference (3) 71:20 discovered (1) 73:10 208:3,7,7,14,19
Day11/129:1 (1) 251:10,12 252:20 94:3 263:23 discredited (1) 62:14 209:1,5,8,9,11,14
264:1 255:12,17 260:5 different (43) 1:8 2:20 discrepancy (1) 75:20 210:6,11,12,25
Day12/101:1 (1) 262:20 2:20 4:8,21 5:21,22 discuss (7) 40:15 211:4,5,17,20,21
211:2 degree (1) 5:22 15:25 18:18 19:16 71:21 184:16 189:1 211:24 212:7,9,12

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

283

February 24, 2016 Day 16 — Redacted

212:13 214:2,5,18 215:15 216:7,9,11 217:13 219:2,13,19 221:8 231:4 239:12 239:13,18,19
documentation (10)

25:21 108:5 228:6 231:10,10 233:25 234:14 236:18,21 237:5

documented (2)

232:5 233:5 documents (85) 1:7

1:20 2:19,24 3:6,8 3:12 4:4 5:6,9 6:6 6:24 7:3 8:12,25,25 9:1,7,14 10:7 11:18 11:25 12:3,11,18 12:20 13:1,6,9,22 15:23 16:8 17:20 19:14,21 20:2,7 22:2,6,7,19 23:15 23:17,18,25 40:2 103:20 105:2 106:17 116:13 121:8 148:25 150:5 150:6 200:25 207:14 211:8 216:15 219:18 228:7 232:21 234:3 234:11,15,22 236:13,15,15 237:15 239:3,4,6,9 239:10,22 240:8,24 241:3,6,7,9 247:20 252:20 263:15 266:3

doing (19) 35:9 60:5 70:4 72:22 93:20 100:7 113:1 120:20 155:12 160:1 180:18 181:13 190:4 204:21 235:20 238:16 263:3 265:21 275:17

dollar (2) 164:20

219:15

dollars (2) 86:19

165:15

double-checking (1)

214:8

doubt (4) 32:9 148:24 158:3 202:4

doubts (1) 207:13

Dr (140) 1:8,13 2:17 3:20 8:19 10:3,20 11:1,24 12:9,19 13:21 16:17 19:7 20:21,25 23:1 24:2 24:19 27:8 28:1,13 29:9 35:6 36:12 39:1 40:10 41:13 41:22 42:6,20 45:25 46:19 47:2 47:12 48:7,22 49:23,24 50:12 51:4 52:10 54:2,7 56:8 57:16 59:3 60:5,12 61:5 62:5,8 63:1,9 67:8 68:8 71:12 73:8,25 74:7 74:17 77:20 80:2 81:21 82:3,19 83:2 84:2,18 85:17,20 88:21 89:2,16 91:12 93:17 94:10 94:16 95:18 96:23 96:25 97:19,25

99:2 101:2,10 102:5 103:25 104:14 105:14 107:23 108:7 111:18 115:5,10 116:13 117:22 118:17 147:16 148:7 149:8 150:14 150:20 153:24 155:2,5,20 157:8 157:20 161:2 163:24 164:5 165:21 166:23 168:16 169:5 170:10 171:1 172:3 173:12,24 175:24 177:1 178:14 180:4 180:14 181:5 184:3 201:13 205:11,12 206:9 214:3,11,20 266:24 267:17 270:5 278:8,9

draft (14) 176:24 208:25,25 209:5 210:7,22 216:16 217:25 218:10,10 218:13 239:12 240:17,19

drafted (4) 209:1 210:17,18 216:17

drafts (2) 218:23 240:16

dragging (1) 178:20 drained (1) 62:23 draw (2) 13:12 175:21 drawn (4) 1:24 25:3

89:13 270:15 dreaming (1) 93:9 drew (1) 263:23 duck (1) 172:16

due (12) 71:5,24 72:5 72:14,21 97:24 106:20 107:17 182:8 235:7 236:12 237:11

duly (1) 215:9

E

e-mail (4) 148:11 191:22 256:19,20
e-mails (2) 257:7 261:11

E1/6/11 (1) 10:11 eager (1) 55:13 earlier (6) 42:1 65:9

70:20 180:8 238:5 266:2

early (2) 26:5 277:1 easier (1) 104:12 easily (4) 66:5 209:3

241:19 242:12 easy (3) 3:10 43:11

246:9

EBRD (7) 59:1,10 78:12,14,15 245:3 247:14

educated (2) 183:23 183:24

education (5) 168:7 168:10,10,20,21

effect (1) 275:17 efficiently (2) 182:7

277:6 effort (1) 234:6 efforts (1) 234:2 eight (1) 41:14 eighth (1) 44:22

either (6) 3:4,22 8:12

103:3 219:21 86:2 95:8 118:21 71:13 75:18 76:6 9:7,15 227:11 264:22 265:20
223:25 157:19 164:24 76:23 91:22 95:23 explain (22) 6:15 fact-finding (1) 235:20
elaborate (1) 158:4 227:22 96:3 108:12 149:11 10:14 33:3 38:18 factories (2) 26:19
element (2) 57:1,2 entry (3) 65:12 67:22 156:17 159:14 50:19 57:20 70:24 249:20
elements (1) 57:4 85:25 161:7 163:5 165:10 96:11,15 98:11,16 Factors (1) 72:1
elevator (1) 259:10 envisaged (1) 249:5 204:16 238:6 252:7 100:9 103:18,19 factory (5) 25:11,18
elite (1) 31:12 episode (1) 262:25 253:5 256:4 257:12 115:4 149:25 27:21,25 189:24
elucidation (1) 241:2 equipment (21) 26:14 257:23 266:2,23 152:21 167:25 facts (2) 45:14 238:10
embarrassment (1) 26:18 102:22 evidences (4) 37:23 181:22 184:15 factual (1) 45:18
178:17 103:15 104:2 107:7 68:21 108:19 209:19 214:11 factually (1) 217:21
embassy (3) 113:3,6 107:24 112:5 267:11 explained (8) 4:3,3 fail (1) 94:6
113:11 116:20 117:18 ex (1) 167:11 7:10 66:19 181:15 failing (1) 251:23
emerged (1) 266:25 149:18,22 150:23 ex-policeman (2) 212:5 236:1 261:25 fair (4) 52:6 53:19
emergency (1) 192:17 150:25 151:7,10,25 252:12 254:4 explaining (2) 28:3 147:4 183:1
emerges (1) 240:18 152:23 165:8 ex-Russian (2) 61:13 42:12 fairly (1) 184:8
emigrated (2) 88:13 249:15,19 245:2 explanation (18) 4:1 fairness (1) 13:12
192:9 equipped (1) 80:17 ex-Soviet (1) 168:5 9:23 10:25 11:21 fall (1) 72:17
emigration (1) 29:15 Erokhin (1) 253:16 ex-Vice (3) 244:15,21 18:14 35:25 71:13 falls (1) 72:18
emphasise (1) 206:20 escape (1) 160:14 245:7 75:21 90:12 102:12 false (1) 48:25
employ (2) 51:3 75:8 escaped (2) 175:1 exactly (21) 4:1 8:6 102:14 105:21 falsity (1) 157:25
employed (11) 50:8 253:13 11:3 51:21 61:18 164:23 166:16 familiar (1) 169:8
50:14 58:2 64:24 Eschwege (1) 235:1 75:23 76:9 97:15 201:3 205:25 family (6) 17:24 18:13
66:2,3 185:21 especially (16) 49:16 207:11 211:7,23 250:25 262:6 120:19 173:17
225:5 230:4 246:11 70:3 76:15,24 224:19 231:1,16 explanations (4) 11:9 250:14 259:2
254:3 80:17 106:22 107:2 232:21 235:16 16:4 19:12 152:18 famous (5) 158:20
employees (3) 15:25 159:15 176:8 249:7 255:11 258:6 export (5) 245:16,22 171:24 174:19,24
117:8 239:24 182:22 239:5 240:7 260:5 261:14 246:2,4,4 245:21
employing (1) 69:24 241:24 246:12 examination (1) expressed (1) 221:11 far (34) 2:10 20:10
employment (1) 255:20 260:7 267:14 expropriated (1) 87:9 26:16 37:22 49:4
250:14 establish (7) 4:1 25:10 examined (1) 1:25 extend (2) 153:16 67:16 74:24 81:23
enable (2) 183:15 75:18 114:12 168:5 example (30) 6:7 14:9 235:3 82:23 83:10 100:22
267:25 184:5 203:15 17:6,23 18:9,16 extended (3) 11:13 103:11 104:3 108:4
enclosed (4) 41:18 established (12) 64:12 19:2 55:21 56:2 36:13 256:16 147:1 151:6 153:21
110:1 121:9 216:13 65:9,15 90:14 58:4,5 69:21 70:7 extent (5) 62:23 63:22 178:10 209:21
encloses (1) 60:1 91:24,25 92:12,13 76:3 98:20 118:25 229:11 248:3 211:8 217:10
endeavour (1) 51:14 92:23 158:17 159:1 159:5 222:20,21 268:23 223:11 226:8,12
endemic (1) 159:15 200:14 223:8 236:16 extract (4) 85:5 169:5 247:20 248:16
ends (2) 178:15 establishing (1) 239:24 240:11 169:8 202:15 249:17 250:3
261:24 157:24 246:3 248:15,20 extracts (1) 162:4 251:22 252:7 259:8
energy (1) 69:15 establishment (1) 254:3 259:5,10,11 extradited (1) 41:9 264:25,25 275:13
enforcement (3) 63:4 exams (1) 228:18 extradition (22) 30:1 fast (3) 51:24,25
31:12 179:24 estate (2) 84:25 exception (1) 163:9 30:8 31:7 32:5,15 194:17
242:10 168:13 exceptionally (1) 33:3,14,18,21,23 fate (2) 151:10,11
England (1) 248:5 estimate (1) 77:17 263:17 33:24 34:4,8,12 fault (10) 12:22 85:22
English (13) 102:1 estimation (3) 57:7 excess (2) 224:7,22 35:8 38:2,4 39:10 86:16,17 93:25
106:4,24 107:3 103:9 225:21 exchange (5) 86:21,22 41:4,7 43:10 161:1 170:23,23
112:13 157:10 et (3) 5:8 8:10,10 164:20 218:16 169:11 185:5 247:9
176:22 188:14 ethics (2) 213:5,6 219:15 extremely (14) 15:16 favour (3) 44:7,8
198:16 199:6,17 euro (1) 219:15 exciting (1) 60:23 117:11 184:24 105:3
207:4 208:10 Europe (6) 168:21 executed (1) 2:9 221:22 224:13 favourite (1) 236:22
enjoyed (3) 56:16 169:11,18 245:12 exercises (1) 57:6 229:23 230:25 feared (1) 147:21
62:22 166:14 255:14,15 exhibit (1) 95:1 238:19 239:1,2 February (13) 1:1 11:3
enormous (3) 64:1 European (3) 54:16 exhibited (2) 94:14 250:7,15,16 263:9 11:5 37:12 38:1
67:3 199:23 245:13 247:14 119:10 111:20 149:10
enormously (1) 32:8 euros (1) 55:10 exhibiting (1) 182:21 F 173:22 174:6 176:2
enquiries (10) 41:17 evaluated (1) 232:7 exhibition (1) 25:24 fabricated (2) 13:8 255:9,14 277:10
108:10,10 109:25 evaluation (1) 231:6 existing (4) 231:7 federal (3) 27:12
24:6
110:2,5 152:16 evasion (1) 37:1 232:7,13,14 55:22 180:23
face (8) 99:11 102:17
179:6 247:5 249:11 event (2) 40:22 55:16 exists (2) 226:24 Federation (11) 27:11
102:19,24 105:9
enquiry (5) 45:18 events (5) 55:13 240:13 29:16 31:25 39:20
112:7,11 214:21
69:10 166:13 56:21 58:6 164:4 expand (1) 77:12 39:24 40:4 57:1
Facebook (4) 173:24
167:12 249:23 187:6 expect (2) 3:8 151:9 221:21 222:4
174:6,8 176:16
ensure (2) 8:7 213:22 eventually (2) 251:17 expectation (1) 242:21 244:16
faces (1) 193:19
enter (7) 112:2,8 257:17 257:13 fee (1) 55:10
facility (1) 77:10
159:20 233:7 everybody (8) 29:12 expected (1) 152:1 feed (1) 269:5
fact (36) 13:13,14
258:10 264:6 73:23 92:3 113:23 expecting (2) 203:1 feel (6) 94:3 147:19
23:3 38:16 42:10
265:12 202:7 205:24 224:14 160:16 205:15
45:14 46:4 57:20
entered (5) 102:11 225:23 247:18 expenses (3) 119:25 206:10 266:22
63:15 70:24 72:4
105:10 107:13 everyone’s (1) 13:13 248:12,13 feeling (8) 43:9
80:13 81:3 90:3
154:4,12 evidence (55) 7:10 expensive (2) 50:25 189:17 192:5 193:1
100:7 105:25
entering (1) 230:2 8:15,17 10:16 190:11 195:7 200:4,13
106:11 117:6
entirely (2) 7:12 86:17 20:25 21:9 32:3 experience (3) 54:16 206:3
170:16 177:7 183:5
entitled (3) 79:11 36:11 40:13 42:1 169:25 170:1 feels (1) 114:22
185:23 196:24
161:20 169:10 43:21,22 44:22 expert (5) 7:5 19:9 fees (1) 78:6
212:19 213:7
entrance (4) 258:11 45:5,7,9 46:14,23 230:21 232:12 felt (2) 60:6 252:9
217:12 227:4,19
258:13,15 259:9 47:1,15 48:1 50:19 247:10 Festival (1) 61:10
237:18 240:8
Entrepreneur (1) 52:12 56:8,24 expertise (2) 228:12 figure (5) 118:3,5
243:19 244:12
244:18 57:15 59:6 64:18 228:16 165:16 219:25
246:19 254:14
entries (8) 55:1 60:25 65:9 70:20 71:9,10 experts (6) 1:9,25 9:2 221:8

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

284

February 24, 2016 Day 16 — Redacted

figures (8) 100:19 175:23 186:7,8 226:24,25 227:7
117:25 156:7 187:14,17 195:5 formally (1) 209:21
199:24 219:1,7,14 204:1 formed (2) 68:23
220:23 finite (1) 204:16 250:20
file (17) 1:23 3:5 8:17 Finland (6) 54:22 58:4 former (3) 61:7,23
10:17,25 14:21,22 58:7 106:2 246:5 180:22
14:22 35:1,3 38:12 253:13 formulated (2) 71:8,9
40:1 195:10 197:14 Finnish (4) 25:5 26:15 fortune (1) 38:17
214:3 215:16 26:15 249:18 Forum (1) 55:22
268:15 Finnvera (1) 246:5 forward (4) 155:4
filed (23) 33:12,12 fire (2) 49:13,14 194:21 230:15
37:18,19,21,23 first (62) 21:21 33:18 238:22
160:19 207:12,16 33:20,21 38:2 39:6 found (5) 4:5 58:25
207:25 208:4,8,14 41:3,8,10 42:4,13 161:18 162:2 185:3
208:20 209:9 210:6 43:3,22 44:5,6,9,13 founded (1) 5:12
210:7,11 211:18,21 45:18,23 46:12 four (9) 53:16 70:25
212:14 216:7 47:2 49:19 62:8 106:5 118:12
239:13 65:24 76:11 78:23 158:18 210:23
files (10) 3:6,15 4:5,9 92:6 95:4,17 99:8 234:15,16,18
4:12 5:17,22 6:16 103:23 149:10 fourth (3) 214:6 216:1
6:19 276:11 159:1 167:14 173:1 257:25
filing (3) 22:7 149:2 180:20 181:14 France (17) 9:9 31:6
149:21 185:2,7 187:1 32:7 41:4,5 111:9
filled (5) 3:1,14,23 189:23 192:6,9 111:20 113:20
4:25 5:2 202:1 207:7 208:1 168:2,4,5,6,7,19
film (1) 185:19 208:3,22 210:10,25 170:17 209:16
final (31) 29:3 33:16 213:8 214:15 251:17
44:16 104:15,15 216:16 220:25 fraud (1) 82:8
170:4 199:16 200:4 229:1 233:6 239:10 free (3) 121:5 183:21
211:20,21 212:13 248:11 258:21 204:2
216:7 218:18 219:5 259:9 261:5,23 freehold (1) 81:4
219:18,18 220:3,17 Fish (3) 80:11 83:8,11 freezing (14) 90:11
221:7,8 236:4 Fishing (2) 82:14,21 91:12 95:20 114:10
238:4 239:12,13 fit (1) 177:19 114:18 115:7,14,22
240:18,19 241:11 five (9) 60:25 62:1 115:25 116:10
244:6 251:6 257:10 93:19 104:5 118:12 154:8 166:19
267:2 183:15 228:17 167:22,22
finalise (1) 160:8 229:17 265:17 French (12) 33:14
finalised (2) 26:11 flat (2) 88:10,12 34:11 39:14,22
72:21 fled (2) 113:20,21 40:19,20 41:2
finalising (1) 19:15 flee (2) 251:21 254:10 168:16,20 170:6
finally (5) 67:1 108:6 fleeing (1) 252:1 211:9 217:11
186:15 187:3 fleet (2) 245:5,6 frequently (1) 255:17
218:18 flicked (1) 7:16 Friday (6) 207:10
finance (8) 78:9,9,16 flight (1) 253:17 217:17,23 218:2
97:18 245:22,22 floor (9) 257:25 276:22 277:10
246:12,13 258:10,17,19 259:3 friend (4) 202:22
financed (3) 26:13 259:11,15,16,18 235:1 252:11,14
241:13 251:3 flow (1) 228:4 friendly (4) 55:17
financial (19) 94:13 flying (1) 53:7 237:1,4,12
106:5 158:22,22 focus (2) 265:11 friends (3) 68:4 175:2
159:7 165:24 267:18 191:22
168:14 221:19 focused (1) 256:18 front (2) 89:7,9
222:16 225:9 folder (1) 196:23 frozen (1) 57:21
226:15 228:2,4,10 folk (1) 259:14 Fuel (5) 233:18 234:1
237:5 243:4,7 follow (7) 26:4 55:1 234:3,9 235:3
247:14 260:12 59:11 74:23 156:22 full (12) 7:23 10:25
financially (2) 221:16 157:3 159:25 11:20 44:14 115:19
221:23 follow-up (1) 42:19 185:6,12 192:3
financing (5) 64:3 followers (1) 176:15 202:25 203:1,5
76:14 100:6 158:24 following (6) 175:6 242:18
246:8 176:5,14,18 209:25 fully (6) 119:21
find (12) 8:6 20:13 266:19 201:22 202:1
109:22 170:24 follows (2) 152:19 231:19 270:11,16
184:22 197:19 158:3 function (1) 204:15
201:1 203:14 foot (1) 79:14 fund (2) 62:1 65:1
219:12 220:8 243:3 footage (1) 201:5 funds (5) 70:5 116:18
252:18 foregoing (1) 30:17 117:17 226:8 251:8
finding (1) 3:10 forensic (1) 235:6 funny (3) 21:17
finds (1) 13:5 forever (1) 183:8 237:25 253:14
fine (3) 52:1 57:15 forged (2) 13:7 24:5 further (14) 7:7 48:15
270:12 forgeries (2) 6:2 23:15 58:20 69:9 70:6
finish (11) 42:6 51:13 forgery (1) 8:11 80:18 150:7 152:14
78:8 90:8 98:8 forget (1) 236:5 152:22 201:4 241:3
146:23 175:24 forgotten (1) 37:8 250:4 251:10
241:11 247:3 267:7 forklifter (1) 187:24 265:25
276:17 form (3) 111:15 fuss (1) 7:2
finished (11) 32:15 211:18 235:16 future (4) 114:19
45:25 79:22 110:23 formal (4) 213:5 160:12,13 227:18

Fyodorov (6) 28:18,25

59:19,20,23 60:7

G

G1/20/32 (1) 91:10 G1/20/33 (1) 91:22 G1/6/1 (1) 95:17 G1/6/2 (2) 95:23 96:6 G1/6/3 (2) 95:24 96:6 G1/6/4 (1) 95:24 G1/6/5 (3) 95:16 96:1

99:15

G2/34/1 (2) 101:7,10 G2/34/2 (1) 155:24 G2/34/6 (2) 101:5,14 G3/102/1 (1) 235:25 gadgets (1) 35:13 gain (1) 152:14 games (2) 16:2 265:23 gangster (1) 260:1 garbage (2) 195:3,8

Gary (3) 156:9 174:18

174:19

gather (1) 183:9 Gazprom (2) 69:14

222:19 general (9) 29:16

48:25 49:21 151:16 169:1 185:16 188:6 189:10 260:8

generality (1) 30:16 generally (7) 168:4 187:5 212:25 223:14 224:5 240:14 245:19 genesis (1) 262:17 genuine (2) 23:5 24:3

German (2) 246:4 249:18

Germany (2) 56:2

223:21

getting (4) 29:18 217:9 235:9 257:24

Giles (2) 11:1 19:7

Giles’ (2) 10:20 20:25 give (40) 12:5,20

16:13 21:9 34:12 42:8,20,21 46:23 47:1 48:1,4 51:11 64:18 74:1 76:22 85:20 93:15 96:3 108:19 111:14 112:2 115:16,19 165:16 166:16 167:7 168:3,13 172:8 182:10 186:1 205:25 208:1 212:19 237:15 239:8 250:18 253:5 261:18

given (27) 40:14 56:8 56:15,25 71:13 90:11 97:17 99:13 100:4 107:15 111:8 111:19,23 114:24 116:8 117:25 152:12 165:10 184:19 213:16 218:10 221:19 246:15 252:10,17 262:6 263:17

gives (1) 161:7 giving (9) 43:2 47:19

52:5,12 98:24 108:12 213:17 238:25 261:20

go (66) 6:7 10:8 13:23 14:7 18:16 23:11

23:24 25:7,14 26:24 29:3 30:15 31:9 32:19,22,24 34:25 35:2 44:23 48:11 51:25 52:6 55:7 63:7 64:16 76:22 79:10 94:25 101:7,14 103:22 104:11 111:2 113:7 116:14 147:14 150:8,11 153:15 154:1,21 155:4,25 157:18 161:4,4 162:3 167:5,14,21 173:5,21 176:10 194:17,21 195:10 198:8 212:1 214:19 221:13 238:22 254:23 259:2,2 262:25 263:20

goal (1) 78:19 God (1) 226:24

goes (3) 72:12 74:24 147:7

going (61) 1:6 3:25 7:9 11:20 13:20 24:8 32:2,16 35:14 42:6,18,23 53:3,6,9 53:12 74:3 88:21 89:15 93:17 101:2 109:15 112:7 113:23 114:9 120:7 154:21 157:23 172:8,19 175:12,14 176:17,20 177:10 177:13 179:3 181:21 182:14,16 188:19 189:1,2 190:14 201:20 203:16 204:24 232:12 238:17 249:12 250:4 253:11 254:5,20,24 255:22,25 276:6,9 276:17,17

good (29) 1:4,5 6:9 15:6 16:6 28:5 29:10,13 36:5 55:2 64:13 68:3 72:23 72:23 78:15 89:20 99:24 176:13 182:12 185:8 187:18 193:4 195:7 198:20 225:9,15 232:9 244:22 268:3

goodwill (2) 63:3 80:18

Google (2) 231:15

250:7

Gorchakov (3) 160:19

160:21 161:7

Gorchakov’s (1)

162:21

Gorod (1) 251:4

Gosgortechnadzor (1)

233:9 governed (1) 266:4 government (14)

25:17 27:19 54:9 55:2,18,19 56:12 57:3 58:7 65:1 66:2 68:5 73:22 80:6

governmental (4)

54:14 55:7 56:19 57:21

Governor (1) 177:6 granted (1) 100:3 grateful (3) 247:6 267:19 277:5

great (5) 7:2 199:23 228:12 247:13 258:3

greater (1) 241:1 green (1) 186:24

Gref (10) 66:9,10,16 66:18,20,23,24 67:4,7 68:3

grey (1) 72:7 ground (3) 147:4

199:14 232:8 group (33) 28:8 48:8

48:15 49:6 59:24 60:9 72:4 90:19,25 91:5 92:5,7,14 93:3 93:3 96:4,11 97:1 99:22 178:5 185:17 188:6,7 221:17,17 223:16 242:12,17 243:17 244:8,13,19 249:14

growing (1) 147:8 growth (1) 220:11 guarantee (1) 265:6 guaranteeing (1)

80:22 guarantees (5) 264:3

264:12,16 265:12 265:18

guard (1) 259:23 guesses (1) 257:7 guidances (1) 16:12 guide (1) 53:21 guidelines (3) 16:6

209:25 227:8 guns (2) 193:17 260:1 Guz (2) 202:7 259:12

GVA (2) 103:12 195:24

H

H2/35/1 (1) 236:2 half (12) 41:14 42:4
43:3 69:25 78:14 146:21 151:18 188:10 230:22 238:5 247:23 256:9

half-heartedly (1)

268:22 halfway (1) 54:5 Hamburg (2) 56:5,6 hand (3) 17:7 180:8

208:15 handed (5) 104:12

148:5,6 180:9 182:8

hands (7) 67:1 119:7 146:23 147:1 149:1 149:19 158:1

handwrites (1) 14:21 handwriting (8) 1:9,24

7:6 19:25 20:1,5,17 240:22

handwritten (1)

239:19 hang (1) 167:4

hanging (1) 167:3 happen (2) 2:9 260:10 happened (20) 10:25

11:3 44:15 46:13 47:3 63:1 65:20 107:18 110:12 152:13 178:3 192:5 192:11 203:6 214:14 231:13 234:12 247:11 268:16 275:14

happening (1) 52:15

happy (14) 48:20 52:7 115:9 119:21 120:4 152:25 162:11 165:5 166:4 169:25 170:2 202:23 213:20 250:15

harass (2) 49:20 50:23 hard (11) 22:6 89:3,5

104:10 171:9 199:9 199:11 215:20 236:13,20 237:7

harm (2) 265:2,10 haul (1) 267:18 head (14) 28:7 35:2

55:5 56:3 61:25 66:6,23 179:7 180:13,22 237:2 245:16 257:5 265:12

heading (1) 48:8 headquarters (2)

186:23 245:14 hear (2) 77:4 204:11 heard (5) 13:21 41:6 153:21 180:12

204:12

hearing (19) 39:10,25 45:11 121:13 146:20 167:21 188:22 192:14 214:22,25 215:8 265:6 268:4 270:24 275:11 278:6,7,11 278:12

hearings (2) 11:14 39:12

hearsaying (1) 60:20 heavily (2) 233:4

241:15 heavy (2) 198:23

200:10 hectares (1) 87:18 held (3) 107:8 149:1

178:8

help (12) 29:1 56:11 152:2 168:12,24 175:12 177:15 187:7 247:6 249:13 261:13 268:18

helped (1) 191:22 helpful (2) 153:24

267:23 helpfully (1) 234:25 helps (1) 265:2 Helsinki (1) 106:2 Hermes (1) 246:4 heroic (1) 253:7 heroically (1) 253:4 hiding (1) 38:16

high (7) 27:23 180:21 198:22 200:10 224:13 252:12 255:23

higher (3) 73:2 74:13

179:8

HILDYARD (437) 1:4 1:11,15,17,22 2:1,5 3:10,19 4:7,13,15 4:17,20,23 5:2,6,25 6:4,11,17,19,22 7:1 7:9,12,21,25 8:4,16 8:19 9:4,13,19 10:3 10:8,15 11:11 12:5 12:12,16 13:2,16 13:19,25 14:2,5,8 14:14,23 15:5,13 15:17,20 16:3,11 16:17 17:3,5,9,12 17:15 18:3,7 19:11

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

285

February 24, 2016 Day 16 — Redacted

19:24 20:4,9,13,20 252:7,22 253:20,25 identified (4) 22:11 76:10 223:18,24 224:2,4
21:1,11,17,19 254:9 255:1 256:3 181:22 204:15 increases (2) 71:18 224:4,21,22 225:15
22:10,14,18,22 256:14,18,23 270:10 76:4 226:4,8,14,15
35:15,18,21,23 257:12,17,22 258:6 identifies (2) 1:18 independence (1) 237:2,5,8,13,14
36:5,9,17,22 37:5,8 258:23 259:14,19 203:13 74:11 238:11 243:18
37:11,16 38:5,17 260:4,9,15,18,24 identify (5) 31:6 independent (7) 66:4 insure (1) 222:23
38:21 40:22 42:11 261:4,18,22 262:6 120:10 184:10 70:14 74:9,25 insurer (1) 223:13
42:17,23 43:6,20 262:13,17,23 263:8 203:15 204:4 155:14 209:22 insuring (2) 223:6,20
44:25 45:13,20 263:16 264:3,10,18 identifying (1) 189:7 236:14 integral (1) 68:23
48:4 49:21,23 264:20 265:8,11,25 IFRS (9) 226:19 227:3 INDEX (1) 278:1 intended (1) 102:15
51:11,15 52:1,5,9 266:8,11,17,21 227:6,9,14,22 India (1) 223:23 intention (2) 32:9
52:14,20 53:3,11 267:6,9,12,17,22 228:2,6 248:23 indicated (1) 261:11 114:16
53:18 56:24 57:13 268:3,9,20,23 ignored (1) 179:5 indirectly (1) 238:7 inter-governmental …
58:22 59:7 74:4,15 269:1,15,24 270:4 ill (3) 66:13 204:7,11 Indonesia (1) 223:22 39:22
74:23 75:16,24 270:8,20,23 275:13 illegal (3) 34:1,6 41:21 industrial (2) 200:14 inter-OMG (1) 99:3
76:1,4,18,25 77:4 275:25 276:3,7,15 imagine (1) 15:19 244:21 interest (12) 49:16
87:2,6 89:8,11,17 276:23 277:1,4 immediate (1) 242:24 industry (1) 11:11 66:5 165:19 173:9
93:12,20,23,25 278:10 immediately (3) 47:21 inferences (1) 45:21 206:18 208:18
94:4 96:20,22 history (3) 2:22 242:20 253:19 inflated (1) 73:2 210:2,4 212:23
104:13 110:12,17 160:10,12 impact (1) 31:17 influence (10) 41:23 213:6 214:21 238:8
110:19,22,25 hmm (4) 194:20 impecunious (4) 45:2 66:8 67:3 74:7 interested (5) 27:24
112:12,18,22 113:3 197:17 198:14 164:6 165:23 166:6 74:20,22 75:19 170:2 176:16,17
113:7,10,13,19 199:1 166:8 175:16 240:1 262:23
114:1,3,5,7,11,15 hold (5) 7:6 8:23 implementing (1) influenced (1) 44:25 interesting (5) 16:23
115:3,10 116:4 36:22 112:24 26:1 influential (2) 44:1 17:1,10,18 19:18
119:1,6,8,18,20,23 235:19 implication (2) 158:3 245:21 interests (6) 39:23
120:5,7,13,22 holding (4) 150:4,5 158:6 information (25) 96:18 150:24
121:4,7,12 147:2,8 158:22 257:19 implicitly (1) 155:20 38:20 49:3 50:10 151:24 213:15,17
147:13,24 150:13 holds (4) 96:8 99:17 importance (2) 61:21 54:12 104:16 152:1 intermediary (1) 22:8
150:18 157:17 99:19 178:10 158:15 152:8,15 153:1,3 internal (4) 2:6 43:17
158:2,11,16 159:11 holiday (2) 11:4,5 important (44) 2:16 153:13 159:4 172:8 219:7,22
159:18,22,25 160:4 holidays (1) 11:6 10:19 11:3 18:20 181:1,23 207:23 international (17)
160:7,15,24 170:5 Holland (1) 246:3 38:20 39:12 44:1 219:18 220:3 235:5 54:17 64:9 79:3
170:9 174:20,23 home (2) 32:25 48:21 49:17 55:16 237:5,17 247:22 156:11,12 159:8
175:8,20 176:4,6,9 275:19 59:9 66:24 69:1,2 248:1 260:21 168:10 171:25
176:20 177:2 182:5 hope (3) 114:25 172:24 175:10 261:15 185:25 223:25
182:12,18,21,25 206:23 266:22 176:11 190:7 197:3 informed (1) 215:9 230:4 241:25
183:2,5,13,19 hoped (1) 46:8 197:24 204:14 informing (2) 213:8 245:22 246:8,11,12
184:14 185:18,23 hoping (2) 241:1 211:25 212:15 217:9 263:12
186:3,9,12,18,20 253:22 216:9 217:16,21 infrastructure (5) internationally (1)
187:22,25 188:2,12 hot (2) 93:25 94:4 219:17 228:1 78:20 241:14,23 92:15
188:15,19,23 189:1 hotel (1) 275:19 230:25 236:19 242:2 246:12 internet (7) 180:17
189:10,13,22 190:2 hotels (1) 205:21 239:1,2,4,22 240:1 infrastructures (1) 205:21 220:9
190:13,18,21,25 hour (3) 146:22 241:6,12,22,24 54:17 247:20 262:20
191:5,8,19,24 204:25 256:9 245:9 246:14 initial (12) 37:18,20 266:13,18
193:15 194:15,20 hours (3) 191:19 250:16 254:25 44:14 92:7 100:23 Interpol (3) 106:1,22
195:9,14,19,21 192:2 202:16 263:9 210:18 218:4,9,23 251:13
196:6,18,22 197:7 hours’ (1) 191:14 impossible (4) 34:2 222:2 257:11 265:5 interrupt (4) 3:19 6:11
197:17,20 198:2,14 house (12) 64:19,21 52:21,22 111:3 initially (8) 33:12 119:16 213:23
199:1,8,11,14,23 65:3,15,22,24 66:6 impressing (1) 204:22 34:21 99:22 217:4 intervene (2) 43:13
200:5,12,16 201:12 67:14,20,25 68:10 impression (2) 74:17 219:20 222:1 172:4
201:24 202:3,9,12 88:15 250:20 254:21 258:10 intervened (1) 48:24
202:15,20 203:3,9 Housekeeping (4) 1:3 improper (5) 60:6 initiative (1) 178:2 interview (11) 60:17
203:16,20,23 204:1 275:12 278:3,13 74:6,19,22 75:18 injunction (6) 91:12 60:23 161:14,14,17
204:11,13,20,22 huge (9) 64:1 167:4 improvement (1) 114:10,18 115:7,14 161:24,25 162:1,4
205:4,7,12 206:8 187:9,24 198:22,24 197:3 116:10 162:12 230:11
207:18 211:1,11,23 199:13,22 250:8 impugn (1) 68:17 inserted (1) 270:17 interviewer (1) 162:9
212:18 213:3,19 human (1) 252:21 in-chief (1) 52:12 inside (4) 2:12 16:10 interviews (2) 261:20
214:1 216:21 217:3 hundred (1) 165:15 in-house (1) 47:20 174:10 190:11 263:4
217:14,19 219:2,12 hungry (1) 49:12 inaccuracy (1) 255:2 insight (1) 74:1 intra- (1) 99:2
219:24 220:3,7,14 husband (1) 178:10 inaccurate (5) 162:13 insinuating (2) 181:20 introduce (1) 34:5
220:18,24 221:1,10 162:15 221:2 270:13 introduced (1) 257:18
221:14,24 222:8,15 I 250:19 263:21 insolvencies (1) 62:15 invented (1) 24:5
224:17,20,25 225:2 I15/15/103 (1) 103:24 inadequate (1) 115:21 insolvency (1) 62:9 invention (1) 63:16
225:11,18 226:1,4 inaudible (2) 51:3 instigated (2) 49:25 invest (2) 223:9
I15/15/105 (3) 103:22
226:10,12,17 235:12 50:4 241:22
104:8 116:15
227:13 228:8,20,23 include (1) 40:13 institutions (2) 247:14 invested (2) 56:4
I19/19/17.39 (1)
229:6 230:8,10 included (6) 222:21 260:12 242:2
169:3
231:19 232:1,15,19 240:2 244:25 245:2 instructing (1) 107:5 Investigation (1)
I20/22/4 (3) 88:25
232:24 233:3,13,15 245:4,9 instruction (4) 2:11 34:11
89:16,21
233:20 234:9,21 including (12) 5:2 102:4,11,18 investigations (2)
I20/26/31 (1) 89:1
235:2,15,19 236:3 54:22 57:5 115:7 instructions (5) 2:6 237:22,24
I22/30/12 (1) 81:7
238:6,21,23 240:16 116:1,9,25 202:6 4:4 7:8 107:20 investment (10)
I22/30/54 (1) 81:18
241:1 243:14 227:23 230:17 108:6 100:24 168:8
I23/32/1 (1) 118:16
246:22,25 247:4,8 235:4 269:7 insurance (36) 64:6 197:11 217:24
I23/32/102 (1) 118:24
247:9,25 248:2,9 inconvenient (1) 73:16 164:13 168:7 218:1,5 219:5,10
ice (1) 245:6
248:19,23,25 249:2 276:20 168:12 221:15,20 245:25 251:11
idea (4) 4:6 93:5
249:22 250:17 incorrect (1) 74:10 222:5,14,17,20,22 investments (3) 26:21
262:8 270:1
251:14,20,25 252:3 increase (2) 73:14 223:5,8,12,15,17 225:3 237:20

Investrbank (2)

255:17,20

invite (3) 11:25 45:21 101:15

invited (1) 89:14 involve (2) 119:25

157:25 involved (15) 57:12

67:14,17 68:10 73:18 82:22,23 116:23 155:22 157:12,13 209:24 241:15 246:1 264:23

involving (3) 164:10 177:21 264:1

irregular (2) 118:10,14 issue (18) 2:16 12:1,1 18:23 37:21 51:19 70:5 71:22 114:17

119:13 154:7 173:1 225:16 227:14 228:3 236:23 240:16 252:6

issued (2) 95:1,6 issues (5) 19:13

157:23,23 175:13 188:24

issuing (1) 98:23 items (1) 120:10

J

J1/20/11 (1) 235:22 J1/20/14 (1) 235:23 J1/20/15 (1) 235:23 J1/20/16 (1) 235:23 J1/20/7 (1) 234:25 jacuzzis (1) 88:6 January (9) 24:21

89:22 105:18 110:24 111:9 156:16 173:13 193:25 194:2

Japan (1) 54:22

Jartek (2) 26:16

249:15

jeopardise (1) 30:24 joining (1) 56:4 joint (1) 68:6 journalism (1) 179:11 journalist (5) 35:17

171:25 172:9 179:7 230:12

journalists (1) 50:7 judge (5) 36:2 39:21 40:5,7 226:20

judgements (1)

263:15

judges (4) 40:6 41:15 41:20 43:24

judging (1) 225:24 judgment (14) 33:14

41:15,18,18 214:5 214:9,13,17,19 215:3,14,17 216:22 216:22

judgments (1) 217:1 judice (1) 175:11

July (4) 66:9,15 237:9 266:14

June (6) 102:5 105:12 192:9,24 222:12 266:14

jurisdiction (3) 166:20 167:10,13

justice (438) 1:4,11,15 1:17,22 2:1,5 3:10 3:19 4:7,13,15,17

4:20,23 5:2,6,25 6:4,11,17,19,22 7:1 7:9,12,21,25 8:4,16 8:19 9:4,13,19 10:3 10:8,15 11:11 12:5 12:12,16 13:2,16 13:19,25 14:2,5,8 14:14,23 15:5,13 15:17,20 16:3,11 16:17 17:3,5,9,12 17:15 18:3,7 19:11 19:24 20:4,9,13,20 21:1,11,17,19 22:10,14,18,22 35:15,18,21,23 36:5,9,17,22 37:5,8 37:11,16 38:5,17 38:21 40:22 42:11 42:17,23 43:6,20 44:25 45:13,20 48:4 49:21,23 51:11,15 52:1,5,9 52:14,20 53:3,11 53:18 56:24 57:13 58:22 59:7 74:4,15 74:23 75:16,24 76:1,4,18,25 77:4 87:2,6 89:8,11,17 93:12,20,23,25 94:4 96:20,22 104:13 110:12,17 110:19,22,25 112:12,18,22 113:3 113:7,10,13,19 114:1,3,5,7,11,15 115:3,10 116:4 119:1,6,8,18,20,23 120:5,7,13,22 121:4,7,12 147:2,8 147:13,24 150:13 150:18 155:14 157:17 158:2,11,16 159:11,18,22,25 160:4,7,15,24 170:5,9 174:20,23 175:8,20 176:4,6,9 176:20 177:2 182:5 182:12,18,21,25 183:2,5,13,19 184:14 185:18,23 186:3,9,12,18,20 187:22,25 188:2,12 188:15,19,23 189:1 189:10,13,22 190:2 190:13,18,21,25 191:5,8,19,24 193:15 194:15,20 195:9,14,19,21 196:6,18,22 197:7 197:17,20 198:2,14 199:1,8,11,14,23 200:5,12,16 201:12 201:24 202:3,9,12 202:15,20 203:3,9 203:16,20,23 204:1 204:11,13,20,22 205:4,7,12 206:8 207:18 211:1,11,23 212:18 213:3,19 214:1 216:21 217:3 217:14,19 219:2,12 219:24 220:3,7,14 220:18,24 221:1,10 221:14,24 222:8,15 224:17,20,25 225:2 225:11,18 226:1,4 226:10,12,17 227:13 228:8,20,23 229:6 230:8,10

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

286
February 24, 2016 Day 16 — Redacted

231:19 232:1,15,19 67:21 68:5,13 language (8) 19:20 261:21 265:5,22 lives (1) 175:1 4:12,14,16,19,19 10:18 11:24 12:13

232:24 233:3,13,15 73:21 75:10 83:12 20:18 206:8 210:9 letter (40) 10:22 living (4) 26:9,10 4:22,22,24,24 5:1,5 13:5 16:5,23 25:2
233:20 234:9,21 88:19 108:4 110:8 210:9 241:6 264:13 26:25 27:14,15 88:13 251:1 5:5,13,13 6:14,14 32:13 33:23 37:6
235:2,15,19 236:3 117:22 118:3,5 264:14 28:4,13,14,18,19 LLC (9) 100:21 102:21 7:7,7,11 8:14,14,17 38:7 51:10 52:2,8
238:6,21,23 240:16 119:25 120:18 large (3) 23:15 224:25 29:3,19 58:25 59:2 102:22 112:3,5 9:6,6,18,18 10:10 53:1 57:17 58:11
241:1 243:14 151:6,15 152:4 225:1 59:9,16,19 60:1,4 116:18,20 151:25 10:13,16 11:11,22 60:19 71:8,9 73:21
246:22,25 247:4,8 156:17 160:10,14 largely (2) 63:20,22 89:16,21 90:3 151:25 11:22 12:10,10,13 73:24 75:3 76:2,5,8
247:9,25 248:2,9 165:6 169:1 171:14 larger (1) 77:8 103:21,23 104:9,18 Lloyd’s (2) 224:8 12:17 13:3,18,18 76:9 79:19 81:1,14
248:19,23,25 249:2 171:15 172:21 Lars (1) 245:11 110:1 116:14 225:7 14:19,20,20 15:20 88:10,24 89:6,12
249:22 250:17 174:24 176:7 lasting (2) 41:14 174:12 177:1,5 loading (2) 194:2,7 16:15 19:7,7 20:14 91:18 98:22 101:16
251:14,20,25 252:3 178:24 179:1 187:15 178:1 216:16 loan (15) 33:11 36:13 20:24 21:2 22:16 103:21 104:12
252:7,22 253:20,25 181:21,24 182:15 latest (1) 81:8 222:12,25 235:11 67:25 75:13 97:17 22:16,25 23:1 114:19,22 117:16
254:9 255:1 256:3 182:24 188:19 laughing (1) 33:24 235:16 269:2,3,9 98:23,24 99:13 35:10,10 36:10,19 118:2,4,18,24
256:14,18,23 189:2,5,8 191:16 launched (2) 32:6,7 269:22 100:3,4,4 214:6 36:19,22 37:3,6,10 119:11 120:9
257:12,17,22 258:6 191:17 198:5 law (8) 31:12 110:15 letters (15) 29:12 215:25 216:1 37:15 38:14,24 146:24 148:3 150:9
258:23 259:14,19 200:20 201:15 179:10,11,24 58:13,15,18,22 242:18 41:13 42:11,15,18 150:10,16 167:25
260:4,9,15,18,24 204:7 205:23 209:8 251:21 266:4,11 88:25 89:3,6,10,13 loans (12) 94:21 95:1 42:24 45:5,25 48:6 169:21 170:24
261:4,18,22 262:6 209:11 211:23 lawyer (5) 39:24 104:6 179:2 209:4 95:5,9 96:13 97:1,4 48:6 49:24 51:12 171:3,9,15 172:22
262:13,17,23 263:8 212:19 213:23,25 149:6 160:23 235:24 256:5 97:22 98:11 100:9 51:13,17,23,24 174:15 175:14,25
263:16 264:3,10,18 216:25 219:1 209:20 253:16 Lev (1) 156:8 168:13 265:17 52:2,7,12,12,15,24 176:15 178:22
264:20 265:8,11,25 225:10 226:21,25 lawyers (11) 31:24 level (33) 15:25 43:15 lobbyists (1) 244:21 53:4,8,12 54:2 182:11 184:10
266:8,11,17,21 227:5 229:17 32:24 45:8,10,11 43:22 44:4,5,6,7,9 local (8) 27:23 28:8,10 57:16 58:11,11 192:8 202:4 209:19
267:6,9,12,17,22 230:20 231:1,12,17 164:7 166:10 209:1 44:10,11,11,13,15 55:12 78:19 80:6 59:6,14 74:4,11,21 213:23 214:12
268:3,9,20,23 231:24 232:2,4 211:14 216:18 44:19,19,24,25 116:25 245:8 75:2,2,16,23,23,25 215:20 216:10
269:1,15,24 270:4 233:10 234:3,12 227:11 45:10,17,18,20,23 located (2) 220:4 76:2,5,9,19 77:6 220:8,16 221:4
270:8,20,23 275:13 238:19 247:15,22 lead (6) 116:24 46:12,13 151:20 255:16 87:10 89:9,9,12,18 229:13 233:17
275:25 276:3,7,15 248:11,12,15 166:12 228:3 224:15,24 225:4,14 logging (1) 5:15 93:17,20,21 94:2 234:13 235:18
276:23 277:1,4 249:19,25 251:9 233:21 242:23 254:7,7 258:22 logic (5) 226:21,24 94:10 96:25 104:10 237:21 244:11
278:10 253:6,7,22 254:2,5 243:11 259:9 227:1,8 237:21 104:14 110:16,16 248:15 263:2 267:2
254:14,19 256:8 leaded (1) 244:15 levels (3) 9:14 45:15 logs (1) 2:7 110:18,20 111:4 275:22 276:1
K 260:6,7,9,10,12,14 leading (8) 25:4 26:15 228:19 London (10) 156:14 112:16,16,20,21,23 Lordship’s (13) 1:13
Kalesnikov (2) 158:20 260:14,24 261:1,19 64:9 69:5 156:7 Levitskaya (21) 6:21 158:17,21 180:12 114:6,8,8,12,16 34:24 49:3 58:16
262:10,19 263:21 224:7 225:7 244:20 6:22 7:5 9:11,15 180:21 204:9 224:6 115:9,9,17 116:12 70:15 119:7,12
159:6
265:15,15,21,22 leap (1) 227:24 10:22 11:2 34:5 224:8,18 240:25 116:12 118:16 146:22 147:1 158:1
Kalmars (1) 187:22
268:13,17,20 269:4 learned (1) 234:25 38:11 50:7,14,25 long (25) 16:24 42:8 119:1,7,10,16,21 235:22 242:5 244:7
Kanal (1) 186:23
269:11,25 270:1,16 lease (1) 81:1 51:6 109:16 152:10 42:25 120:16 120:2,4,4,6,10,12 lose (2) 26:21 243:1
Kapustin (1) 254:4
275:13,19,20,22 leased (3) 80:23,25,25 213:8 217:8 253:10 147:20 171:15 120:14,16 121:4,6 loss (2) 224:7,23
Kasparov (2) 156:9
276:1 Leasing (3) 90:20 91:7 253:11,14,15 172:10 204:3 146:21,21 147:6,23 lost (7) 43:16 63:3
174:19
knowing (2) 200:24 91:8 Liability (1) 82:15 212:24 213:12,22 147:23 148:3 150:7 117:4 149:9 151:14
Kasparov’s (1) 174:18
210:22 leave (8) 11:21 32:17 liable (1) 72:17 219:21 221:6 225:5 150:7,14,19 154:20 151:21 167:18
keep (12) 38:21 87:12
knowledge (4) 107:23 32:22 53:18 86:9 liberty (1) 36:6 228:2 229:4,14 157:18,19,21 158:7 lot (19) 41:1 49:7,11
95:15 113:19 148:8
212:2 229:10 252:8 258:20 259:8 licence (7) 168:7,14 234:10 241:14,23 158:13 160:18 49:16 52:18 53:13
166:25 171:17
266:17 leaving (2) 194:8 168:15,21,22 243:1 249:14 254:13 161:1 170:10 175:8 66:7 68:20 93:9
175:1 184:7 249:25
known (11) 73:13,15 253:17 243:12 255:23 267:18 175:14,23 176:22 96:20,22 107:2
252:19 263:6
73:18 92:15 108:7 left (8) 11:19 15:8 licences (2) 168:9,14 277:5 177:3 182:3,3,7,10 154:7 159:16
keeping (1) 16:10
159:7,19 170:17 24:10 148:8 149:13 lies (1) 51:5 long-lasting (5) 78:3 183:1,4,19 184:4,4 185:25 228:18
kept (4) 109:14
177:7,11 244:22 149:17 222:11 lieu (1) 205:4 78:14 83:1,7 193:9 188:17,17 189:6 248:11 249:11
119:22,24 120:15
knows (4) 82:25 251:16 life (4) 48:18 54:25 longer (3) 187:15 200:17,19,19 201:1 255:13
key (5) 18:23 151:20
163:10 171:25 left-hand (5) 1:20 173:17 254:24 222:13 252:3 201:18,25 203:11 low (2) 88:4 229:2
252:6,16 269:7
206:13 15:15 190:22 195:1 lift (1) 258:9 look (31) 7:13 14:2 203:11,18,22 206:1 lower (3) 63:22 73:6
Khmelik (4) 171:10,11
Kolte (1) 245:11 198:24 light (5) 58:16 152:22 21:13 28:21 32:11 206:11 208:21 196:11
181:7 262:12
kremlin-pu.livejour… legal (3) 30:25 117:7 163:6,25 175:9 34:10 37:12 53:8 209:13,15 210:1 lowest (1) 224:12
kids (4) 34:1,3,6
174:7 170:1 liked (1) 174:23 53:20 60:22,25 211:15,19 212:20 LPK (3) 164:14 190:23
254:23
Kuznetsov (1) 41:7 legislation (3) 232:19 likes (1) 4:7 67:22 82:10 95:8 213:20,20 214:2,11 190:24
kill (1) 233:14
247:18 266:20 Likewise (1) 120:25 95:15 104:14 214:19 215:25 Ludmilla (1) 64:3
kilometres (1) 32:20
L lender (1) 151:24 limit (2) 80:14 81:4 110:22 112:12,18 217:23 218:2,9,15 Lukina (4) 117:1 149:1
kind (23) 20:2 37:18
L (1) 6:20 lending (1) 99:21 limitations (1) 150:17 118:21 162:8,18 218:21,25,25 219:7 149:19 151:16
55:10 61:25 68:6
lengthy (2) 53:14,16 limited (7) 32:21 181:9 188:18 195:6 219:13,22,24 Lukoil (1) 69:14
76:14 79:10 88:19 label (1) 19:4
Leningrad (3) 24:25 82:15 107:7,25 197:21 215:5 220:16,19,25 Lukyanov (2) 27:1,14
93:7 109:17 111:23 labour (1) 206:20
25:17 27:19 152:7 248:6,6 220:18 237:21 221:10,15 226:22 Luncheon (1) 148:1
158:21 160:11 lack (1) 155:14
lest (1) 42:25 line (6) 18:10 70:24 269:2 276:10 227:3,16 228:3 luxury (1) 190:12
162:13 166:1 169:1 laid (1) 187:7
let’s (47) 38:9 41:5 189:20 198:7 looked (2) 105:2 229:1 230:15 lying (5) 206:1,12,22
171:22 185:24 Lair (35) 68:22,23 69:1
44:21 56:4 72:7 230:12 233:7 119:9 233:15,17,17 234:5 244:2,2
240:5 252:16 257:7 69:8,11,12,14,21
88:15 93:16 103:13 lines (5) 189:20 191:3 looking (7) 4:9 51:20 234:7,8,25 235:6,6
258:25 264:18 69:24 70:12,19,25
113:6 117:22 231:13,16 268:1 53:14 74:5 195:4 235:21,21 236:23 M
Kingdom (1) 189:24 71:13 72:25 73:3
147:11 155:4 link (1) 161:18 196:15 199:2 241:8 244:7 251:15
Kirill (1) 237:1 74:8,8,12,15,18,24 M (1) 185:9
164:21 167:14 liquidation (3) 153:19 looks (24) 14:11,15 255:3 260:15
KIT (1) 78:16 75:11,14 76:10 M1/20/55 (2) 47:25
175:6 184:21 153:20,22 15:10,16 24:23 266:24 267:1,1,13
knew (2) 255:6 262:2 195:10,12,15,20 48:6
188:10 192:3,7 list (10) 16:3 23:24 55:18 82:13 94:13 267:16,16 268:7,7
know (147) 5:25 6:5 197:7,9,10,16,25 M1/20/56 (1) 48:12
198:19 202:25 94:21 147:8,11 99:11 102:17,24 268:10,21,25,25
7:14 9:19,20,21 198:11 230:5 M1/20/67 (1) 32:12
204:8 205:25 207:2 216:13 222:22 105:9,14 107:5 269:14 270:19,22
10:19 11:12 15:7 land (21) 26:8,20 M1/25/7 (1) 163:13
209:21,23 211:13 223:7,9 234:10 111:8,18 112:6,7 270:22 275:22
15:16 17:1 18:12 80:23,24,25,25 M1/25/8 (1) 163:11
217:25 218:4 listed (2) 23:18 106:3 112:11,20 173:11 276:1,5,14,19,19
19:6 34:2 35:11,13 81:3,4 85:12 87:2,9 M1/29.1/3 (2) 158:13
220:10,18 221:7 listen (1) 270:2 189:18 215:10 276:25 277:3,3
36:25 37:2 38:19 87:11,16,17 115:13 162:17
231:6 242:18 litigation (1) 165:25 238:19 278:5
40:18,25 46:13 115:21 116:5 M1/5/1 (1) 160:18
243:16 244:9,20 litigations (1) 249:12 Lord (304) 1:6,12,16 Lord’s (3) 120:24
49:3,4 50:9 52:21 187:12 194:18,19 M1/5/2 (1) 161:6
247:23 251:8 little (6) 6:8 182:14 1:16,18,23 2:2,2,6 206:25 243:15
52:25 53:9,12 59:2 249:7 M1/5/3 (1) 161:6
253:17 256:8,9 191:19 200:24 2:14,14,17,23,23 Lordship (94) 1:6 2:3
60:23 61:22 65:17 landed (1) 251:17 M1/5/4 (1) 161:5
258:13 259:1 269:4,15 3:4,4,14,14,22 4:12 6:10 8:18,21 10:10

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

287

February 24, 2016 Day 16 — Redacted

M1/5/5 (1) 161:5 27:10,13 31:17 252:16 255:4,10 91:23
M1/5/6 (2) 161:4 170:25 172:6 182:6 256:13 misconduct (1)
162:3 201:4,20,25 203:14 member (9) 35:17,20 270:14
machine (1) 276:4 materials (1) 235:9 35:22 36:4,8 54:8 mislead (1) 229:3
machines (1) 258:12 Materov (1) 25:23 57:23,24 245:23 misleading (5) 161:9
Madame (2) 223:1 mathematical (1) members (2) 35:15,16 206:2,3 239:7
262:11 219:9 memorandum (10) 241:8
mafia (4) 57:5,18,19 mathematics (1) 24:23 197:11 misled (1) 239:16
161:21 164:18 217:24 218:1,5,19 missed (1) 226:13
Magnum (16) 1:24 matter (18) 9:17 219:6,10 220:3 mistake (5) 186:6
170:24 182:10 58:11 73:24 75:3 242:7 208:23 210:19
185:4,5 188:17 75:19 76:6 206:12 memory (3) 10:3 218:17 219:16
189:4 197:20 221:4 226:16,20 46:19 91:17 mistakes (4) 218:3
202:24 268:10,13 255:7 260:25 men (1) 193:19 219:9,21 241:9
269:5,10 275:16,20 264:22 266:11 mention (2) 16:24 misunderstood (1)
276:5 267:10 268:5 147:11 212:8
maintained (1) 267:18 269:12 275:16 mentioned (1) 234:19 Mitsubishi (1) 79:1
major (24) 10:6 11:5,8 matters (12) 52:18 mentioning (1) 61:20 Mm (4) 194:20 197:17
22:3 61:10 62:16 121:1,4 153:16 met (3) 66:9,15 198:14 199:1
69:15,16 71:13 157:11,24 177:21 108:24 mobile (1) 193:2
75:10 76:15 150:22 206:11,24 213:20 Meylanov (5) 108:24 mock-ups (1) 186:5
151:19 159:8 160:8 213:21 269:17 109:7,7 110:6,8 model (2) 225:8,9
168:9 174:11 177:8 Matvienko (18) 44:23 Mezhevoy (1) 186:23 modern (2) 199:3
178:6 193:20 50:8 57:6 66:8 mid-2007 (1) 47:7 230:6
211:15 222:18 68:15 172:19 173:1 mid-2009 (1) 50:4 modernised (1) 51:21
223:18 255:15 173:2 174:13 177:5 mid-June (2) 48:16 moment (15) 2:15 7:2
making (9) 58:14 177:8,13,15,17,21 50:20 7:13 22:15 38:22
76:13 100:9 157:15 178:23 179:1,2 mid-spring (1) 246:10 108:17 171:5 190:1
193:2 214:20 230:1 Matvienko’s (1) 178:8 mid-summer (1) 190:10 206:7
230:2 231:20 Mazda (1) 79:1 191:1 210:21 216:2 241:1
Malaysia (1) 223:22 McGregor (1) 236:1 middle (14) 24:10 250:21 262:3
malice (2) 66:16,17 McKenzie (1) 10:24 32:14 49:5 79:21 moments (2) 206:5
Malysheva (4) 51:7 mean (46) 13:22,24 87:22 149:10,13 240:1
60:17 61:21 230:11 14:9 17:3 18:2 176:2 188:9 197:18 Monday (4) 181:2
Mama (1) 172:16 19:25 27:13 29:13 199:3 244:12,12,19 202:25 204:9,9
managed (1) 168:6 33:18 39:25 40:17 mightn’t (1) 152:3 money (31) 51:2
management (2) 27:4 44:20 53:7 57:11 Mikhailovsky (1) 62:11 69:19 96:20
116:25 62:6 92:11,20 237:2 96:22 99:3,5
managing (1) 106:6 93:13,21,22 98:19 mill (4) 25:11 26:18 100:17 104:20
manipulate (2) 31:12 100:18 119:8,13 100:23 249:20 118:11 163:18
179:24 120:1 151:1,11 milling (1) 25:6 165:2,3,5 166:3,4,9
manipulated (1) 50:15 162:22 165:2 million (38) 70:10,13 166:17,21 167:1,3
manipulation (1) 166:18 168:4 71:2 86:19 87:20 167:24 169:16
252:5 176:11 192:1 87:23 95:12,12,12 170:3 237:17 238:1
Mann (2) 189:20 198:20 203:21 97:2,9,11,11,12,14 238:11 239:4
191:3 209:25 212:21 100:15,22 103:12 242:25 250:16
manufacturers (1) 224:21 230:21 103:13,13,14,14 257:1
79:3 232:10 242:22 156:25 164:12,13 monies (4) 69:9 95:4
Marc (1) 39:12 243:23 252:17,22 164:14,19,24 164:24 166:13
March (8) 60:2 177:3 265:4 269:13 165:15,16 176:15 monitoring (1) 254:5
177:14,23 223:1 means (14) 15:24 180:12 190:1 month (8) 79:16
237:9 255:14,22 18:11 35:22 44:2 220:23,23 227:21 116:2 118:7,8,8,11
marine (21) 91:6 92:5 49:15 72:19 81:2 237:23,24 118:13 254:22
92:6,7,14,14 93:3,3 168:21 213:1,16 Milner (1) 184:25 monthly (2) 32:20
96:4,11 97:1 99:22 224:19,23 228:8 mind (9) 37:6 74:5 78:19
180:23 221:17 237:3 89:19 230:10,16 months (8) 38:2 41:14
223:18 224:1,4 meant (5) 20:21 72:5 250:17 263:6,23 71:1 88:16 196:8
226:14 242:17 85:20 213:23 276:2 254:22,22 266:5
244:8,13 242:18 mine (4) 10:4 101:9 morning (8) 1:4,5
mark (1) 189:7 mechanical (1) 36:1 202:22 252:12 147:3 192:11,19
market (14) 69:6,13 mechanism (1) 169:18 minimum (1) 254:15 202:17 239:23
72:7 75:9 87:20 mechanisms (1) Minister (3) 244:15,22 251:15
222:18 224:6,18 169:23 245:7 Morskoy (7) 33:5,11
225:14,24 236:14 media (3) 92:15 minor (3) 84:14 34:18 36:13 37:20
238:15 242:3 244:9 175:11 179:11 205:25 233:12 38:5,10
markets (1) 64:9 medical (1) 119:25 minute (4) 14:1,7 32:2 mortgaged (2) 26:8
markings (1) 9:23 Medvedev (2) 29:15 32:2 151:1
marriage (3) 154:4,10 61:12 minutes (19) 53:2,16 mortgages (4) 151:5
154:15 Medvedev’s (1) 61:8 53:17,23 62:1 222:23 223:14
married (1) 34:2 Medvedeva (1) 61:2 93:19 146:22 147:5 265:18
Marseille (3) 105:10 meet (8) 32:24 61:23 147:6,10,11,15 Moscow (7) 66:9
106:17 111:9 67:4 175:3 255:19 181:8 183:14,15 223:9,12 252:23
Marshall’s (1) 11:13 256:1 267:24,25 191:23 204:24 253:22 255:15,16
Martin (2) 224:8 meeting (11) 66:20,21 205:3 253:17 mother (3) 22:21
225:6 67:6,12 109:6,9 minutes’ (1) 93:23 100:5 171:13
master-made (1) 88:8 252:11,15 253:1 miracle (1) 275:14 mother-in-law (1)
match (2) 8:9,9 254:1 256:9 Mironova (2) 18:22 22:22
matched (2) 5:6 6:5 meetings (9) 28:9 256:20 move (4) 120:24
material (11) 11:23 186:20,22 246:2,5 mirror (4) 90:1,22,24 121:12 168:3,5

moved (1) 221:24 movement (1) 99:3 movie (10) 184:25 185:10 187:1

188:10,16 189:11 191:7 193:2,9 222:1

movies (2) 184:24 260:1

moving (1) 193:7 multiple (1) 6:2 museum (1) 88:20

N

n (3) 81:17,20,20 N1 (2) 81:22 82:7
N11/19/90 (1) 94:11 N11/19/91 (3) 94:25 98:13 100:11

naive (2) 46:8 185:15 name (18) 17:24

18:11,13 21:8 90:6 90:13,23 91:2 92:14 93:15 185:8 197:12,13 238:14 238:15 258:18,18 259:2

names (5) 41:8 91:21 92:9,10 234:18

Natalya (4) 171:10,11 181:7 262:11

national (3) 55:24,25 221:21

nature (1) 247:5 Nazarov (1) 10:22 near (3) 85:13,24 87:3 nearest (1) 35:1 nearly (1) 111:3 necessary (7) 78:6

106:18 155:1 157:17 204:23 231:10 236:12 need (42) 8:5 10:17

13:11 14:5,6 30:5 43:12 50:21,23 51:2,23 58:17,24 70:17 105:21 147:5 147:9,19 150:8,11 153:2 154:20 157:18 160:16 167:17 170:3 181:17 183:11,13 185:12 188:21 189:5 201:1,14 204:3,8 206:25 207:1 234:8 248:14 259:22 266:15

needs (3) 8:7 36:24 269:9

negative (1) 175:7 negotiations (1) 93:7 neighbouring (1) 80:8 neighbours (1) 80:20 neither (3) 77:20

78:21 238:6 net (1) 103:14 neutral (1) 75:4 never (37) 10:23

11:10 23:9 29:18 34:7 35:2 41:16 42:25 44:12 58:1,8 60:14 88:13 102:6 102:7,7,14,15,15 103:19 104:6 108:11 110:3 150:3 172:19 179:6 184:21 185:25 186:1,14 208:8

210:8 211:18 227:19 243:23 246:20 264:15 new (13) 33:22,24

34:5 88:12,14,17 90:23 100:3 175:1 192:6,23 201:7 230:23

Newman (2) 224:8 225:5

news (1) 181:1 newspaper (1) 174:11 newspapers (1) 159:8 NGO (5) 156:14

158:18,19 159:1,3

NGOs (1) 156:11 nice (15) 26:10,10

32:17,18,21,22,23 61:2 76:24 108:23 109:8 111:20 199:3 249:6 251:1

Nissan (2) 79:1 189:24 nodding (3) 268:20,21

268:22

Noddy (1) 81:20 nominal (1) 177:12 nominees (1) 257:18 non-core (1) 68:1 non-paid (1) 171:23 normal (10) 40:19

45:11,19 57:9 73:12 113:1 172:11 173:2,6 260:6

normally (24) 25:18 34:24 43:25 44:8 44:12,18 49:9 55:7 55:8,10 69:23 88:13 109:19,20 170:7 179:7,9 194:4 198:22 209:20 224:13 231:5 239:14 241:15

north (2) 27:11

245:24

Norway (1) 223:21 Norwich (1) 167:22 notary (9) 106:16,16 107:15 111:2,23 113:2,2,5,14

note (6) 70:15 91:18 214:6 215:22 216:2 221:1

notes (4) 36:6 51:25 147:16 256:25 notice (4) 10:5 66:5 186:24 194:11

noticed (1) 241:7 noticing (1) 193:7 notwithstanding (1)

117:8

November (3) 33:16

161:15 237:9

Novikov (2) 59:5

151:21

Novy (1) 251:4 number (54) 1:19

7:19 8:1 9:8,13 14:10,11,21 15:1,2 17:1,2,14,19,20,23 18:10,17 19:6 21:12,15 23:15 40:25 41:7 58:13 62:8 67:17 80:7,20 90:9 93:16 118:21 152:16 175:5 184:6 196:11 197:13 208:5,12,13,16 211:17 215:21

218:3 221:3 223:7 226:11 240:24 241:7 246:2 248:17 249:10 256:5,6

numbering (2) 16:24

113:18

numbers (12) 14:8,11 14:16,23 16:25 17:3,5 91:3 184:20 210:20 215:19,25

numerous (1) 30:25

O

O (4) 1:23 3:4 23:2 241:2
O1/13/1 (1) 18:17 O1/13/2 (1) 19:1 O1/14/1 (1) 19:2 O1/16/1 (4) 7:17,19

9:22 19:16

O1/17/1 (3) 6:8 7:17 19:18

O1/17/2 (1) 19:23 O1/18/1 (2) 14:9,14 O1/20/1 (2) 14:10

17:7

O1/20/2 (1) 17:22 O1/22/2 (1) 20:15 O1/22/4 (2) 20:16,20 O1/23/2 (1) 21:15 O1/25/1 (1) 21:25 O1/25/2 (1) 21:25 oath (1) 149:11 objection (1) 152:20 obligation (1) 117:7 obligations (1) 270:11 obliged (1) 252:8

Oborudovanie (1)

149:18 obstruction (1) 26:6 obtain (6) 114:5

167:10 168:13 234:2 237:4 248:10

obtained (6) 4:11 11:19 43:16 100:3 184:21 238:1

obtains (1) 209:20 obvious (1) 223:3 obviously (16) 7:14 8:8 10:13,16 12:1 13:11 22:16 56:15

114:10 119:11 175:8 201:13,23 230:14 269:22 275:23

occasion (1) 237:13 occasions (4) 67:12 195:24 264:21,22

occurred (1) 11:12 October (6) 101:18

105:24 109:1 244:8 244:13,19

odd (4) 7:13,13 8:13 99:11

offers (1) 168:23 office (18) 10:21 35:1

35:2 47:23 149:17 181:2,4,6,21 194:23 244:3 254:3 255:18 257:6 258:14 259:5 261:10,13

officer (3) 171:12 258:15 262:12 officers (1) 49:12

offices (3) 196:10,14 196:15

official (18) 2:11 26:7

Opus 2 International transcripts@opus2.com
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288

February 24, 2016 Day 16 — Redacted

40:2 45:4 54:14 55:7,19 56:18,21 57:21,24,25 58:1,9 80:8 81:23 179:6 237:13
officially (1) 15:2 officials (5) 55:3 73:9

156:18,23 159:23 oh (4) 13:18 37:16

202:21 244:17 okay (24) 40:8 42:9

45:1 65:19 89:4,20 104:24 110:25 176:20 193:24 195:6 197:1 203:9 204:13 219:12 220:18 226:10,14 228:21 241:11 248:25 252:4 254:21 256:11

old (1) 231:16

Olga (3) 149:1,19 151:16

OMG (58) 25:10 26:12 49:6 59:24 60:9 62:8 63:2 68:11 69:2,17,19 72:4,10 77:20 78:21 79:5 80:4 90:1,4,5,18,19 90:19,21,25 91:2,5 95:10 96:13 97:13 97:15 98:25,25 99:16 100:5,7 112:14 113:19 148:8,14,22,25 149:5,14,20,25 178:5 189:11 191:11 198:15 199:5,16 241:12,13 242:11 243:16 248:3 249:14

OMG’s (1) 113:10

OMGP (8) 70:9 97:7 97:20 98:11 102:20 107:8 111:19 112:5

once (9) 33:8 34:3 62:23 88:15 97:3 211:16 231:21 243:21 267:21

Onega (29) 60:14 73:16 74:3 76:19 76:20,23,24 77:1,7 77:22 78:10,22 79:11,20 80:2,3,3 80:10,13,23 83:14 83:17,20,25 84:7 84:12,19 190:23 191:4

ones (11) 4:9,10 5:2 9:4 18:18 34:9 50:3 112:14 176:1 192:6 252:21

ongoing (1) 77:25 open (10) 41:5 59:10

119:1 146:20 198:15 275:11,23 275:23 278:7,12

opened (1) 78:24 opening (7) 49:8 56:6

61:9,12,13 62:1 183:1

openings (1) 183:2 operate (1) 250:12 operated (2) 225:9

233:18 operates (1) 227:6 operating (8) 57:18

78:25 191:4 200:15 209:12 213:14

236:8 245:1 operation (2) 80:5

243:1 operational (1)

248:17 operations (3) 49:19

166:18 250:8 opinion (1) 179:3 opponents (1) 246:19 opportunity (5) 12:6

13:10 205:16 266:23 267:21 opposed (1) 19:25 opposition (1) 156:7 oppressive (1) 32:8 optimistic (2) 155:16

185:15 option (1) 238:4

orchestration (1) 35:4 order (18) 47:20 69:8 77:22 78:9 90:11

95:20 115:22,22,25 116:2 154:8 159:18 166:8,19 167:22,22 234:24 252:18

ordered (2) 88:18 213:10

ordering (1) 26:14 orders (1) 114:19 ordinary (2) 46:6

213:21 organisation (4) 16:10

55:22 59:10 233:9 organisational (1)

14:16 organisations (1)

233:6

organise (1) 185:19 organised (9) 30:12 55:11,25 66:21

80:17 158:23 159:9 182:17 246:2

organising (2) 55:14 56:23

oriented (1) 226:8 orienting (1) 225:24 original (4) 6:23 20:24

21:2 112:22 originally (1) 2:9 originals (12) 3:5 8:12

8:13,23 9:1,2,5,8 9:10 10:21 11:19 14:17

originating (1) 168:4 Orlov (1) 151:18 Orthodox (1) 56:5

Oslo (16) 91:5 92:5,6 92:7,14,14 93:3,3 96:4,11 97:1 99:22 221:17 242:17 244:8,13

ought (2) 13:12 232:25

outside (2) 88:15 193:13

overheat (1) 94:6 overnight (2) 78:2

88:16 overstated (1) 31:13 overtones (1) 156:3 overturned (1) 44:4 owing (1) 62:9 owned (6) 67:19 80:4

80:10,25 83:8 233:18

owner (17) 28:7 55:6 72:2,12,17 83:1,5 92:5,9 96:7 97:13 97:13 151:19 165:2

177:9,11,12 owner’s (1) 72:17 owners (1) 72:7 ownership (4) 81:2

117:9 233:21 235:7 owns (2) 96:12

233:24

P

page (50) 17:19 21:16 22:1 25:7,14 31:6 48:11 54:5 65:7 79:14 85:16 91:15 94:25 95:1 103:23 104:9,15,15,21,22 110:20 112:12 161:5,5 173:10 174:1 181:9,9 196:3,9,11,15,16 198:18 199:18 207:6,7 208:9,10 208:22 212:16 214:16 216:10 220:24 221:2 261:5 261:16,22,24 278:2

pages (8) 18:4 95:22 173:21 195:11 196:2,25 197:13,19

paid (7) 51:1 55:9 97:16 157:1 180:12 213:9 251:8

Palais (1) 61:10 paper (5) 258:20,24

258:25 259:4,6 paperwork (2) 106:19

251:6

paragraph (76) 10:12 29:3,8 30:3,6,21,21 31:10 33:2 34:15 39:1 46:24,25 47:4 47:25 48:3,10,14 54:13 55:18 63:8 64:16 76:23 77:6 81:17,19 83:19,23 84:24 85:11 86:6,7 86:12,14 87:11,14 87:15,16 90:2 91:11 96:1 99:15 101:12,14,15 110:20 116:15 154:3,4,10 155:11 156:1 157:5,9 161:7,13 162:5,6 162:19,21 163:12 163:13,14 179:12 179:17,18,22 180:20 181:10,19 214:24 215:5 220:25 261:4,7,23

paragraphs (8) 23:14 30:4 32:12 37:7,8 46:18,20 86:10

pared (1) 51:25 parent (1) 97:5 Paribas (1) 78:16 Paris (3) 32:23,24

245:14

Parliament (1) 179:8 part (29) 5:14 30:13 35:8 43:20 45:3

51:22 57:23 58:1,8 66:25 68:23 69:1,2 74:6,16,20 81:23 82:8 93:7 161:15 161:23,25 170:24 190:23 233:19,22 236:19 239:18,19

parte (1) 167:11

participants (1) 193:1 people’s (1) 190:14 228:24 105:23 111:4,17
participated (1) 203:6 percentage (1) 221:11 pick (4) 1:6 161:2 112:23,25 113:7,8
participates (1) 54:14 perfectly (1) 36:5 173:22 214:20 116:14 118:3
participating (7) 45:9 period (1) 47:10 picture (6) 25:22 119:16 148:3
55:12,15 58:4,6 permissible (1) 36:7 187:9 196:25 153:15 154:1,17,19
193:11 260:19 permission (6) 36:1,7 197:25 199:16 155:10,24 156:1
participation (2) 55:10 115:8 116:10 248:22 158:12,13,13
56:15 258:17 276:10 pictures (23) 147:10 160:18 161:4 162:3
particular (19) 13:25 persecution (4) 24:9 187:20 191:6 194:5 162:17,24 169:3,24
16:8 18:9 76:16 29:22 30:12 156:4 194:10,16 195:16 170:4,22,22 171:4
96:24 100:8 152:2 person (12) 57:10 195:17 196:1,3,8 171:7 173:5,10,19
155:13 157:14 156:24 158:20 197:15,22 198:10 173:19,21,21 174:1
206:7 207:24 181:22 204:6 198:13,19 199:9,24 174:3,12,16 179:12
211:17,17 212:12 210:18 251:12 229:2,8,19 230:5 180:8 184:12
213:11 216:19 258:20 259:3,21 231:14 185:13 188:16
227:15 249:20,21 267:24 276:5 picturing (1) 229:24 189:14 192:25
particularly (2) 157:23 personal (18) 35:3 piece (6) 87:11 91:21 193:24 194:14,21
212:16 62:3 72:20 87:25 163:5 258:24,25 198:15 199:5 200:3
parties (6) 121:2 88:4 151:14 173:9 259:4 207:3,5,9 215:19
210:3,23 213:4 174:18 175:2 pieces (1) 192:2 216:4 235:22
244:3 270:4 206:18 237:1 pile (1) 230:13 pledged (3) 63:20,21
partly (2) 53:5 87:6 254:15 263:6,7 Piotrovsky (11) 34:23 67:25
partners (1) 263:12 264:3,12,15 265:12 37:24 47:20,22 plenipotentiary (1)
partnership (2) 65:16 personally (3) 84:23 48:18,25 49:1 27:10
67:15 153:9 159:10 163:15 252:15,17 plot (3) 86:5 87:18
parts (5) 87:8 183:20 persons (5) 151:20 252:17 100:24
190:7 259:1,1 245:9,22 252:17 pipelines (1) 200:11 Plus (1) 34:9
party (10) 49:18 72:22 269:10 place (6) 61:11 68:18 pm (8) 147:24,25
96:16 179:4,4 persuade (1) 60:8 205:18 240:11 148:2 183:25 184:2
180:18 184:12 Petersburg (113) 249:21 276:11 205:8,10 277:8
208:6 236:10 24:13 31:13,21 placed (2) 27:22 72:16 pocket (2) 74:19
263:25 33:12 34:18,20,21 places (1) 240:9 191:18
Pasko (6) 60:21,25 35:7,9 36:14,20 placing (1) 224:2 point (63) 4:1 6:12
61:20 174:8 178:25 40:5 41:23 42:5 plain (1) 114:25 14:3 22:19 36:12
179:2 43:8 46:11 47:13 plainly (1) 8:7 38:19 43:1,4 58:12
Pasko’s (1) 60:17 50:1,5,8 54:9,15 plaintiff (1) 214:23 71:10 73:25 75:4
pass (2) 190:6 228:18 55:19,20 56:9,11 plan (4) 78:3 106:4,11 99:2 114:6 172:9
passage (1) 221:12 56:19 57:3,4,5,18 197:10 172:12,24 184:4
passed (1) 12:7 57:22 60:8 62:10 planned (4) 77:12 206:20 214:20
passport (2) 258:16 62:18 63:10,13,21 108:2,4 187:14 216:18,20 217:15
259:20 64:15 65:1 66:24 plans (3) 60:13 77:6 220:1,15 221:9,13
Patrakova (1) 186:25 66:25 68:5 69:5,18 250:9 225:12 226:11,21
Patriarch (2) 56:3,7 70:3 73:5 76:16 plates (2) 196:13 227:7,10,13,15
Pause (11) 19:17 79:7 82:16 84:13 198:8 228:21 229:13
30:22 37:10 39:6 84:16,21,23 153:12 played (6) 35:7 62:15 230:8,10,19 231:20
46:21 84:4 91:15 155:6 170:11,14,19 185:14 189:15 232:15 233:3 235:7
101:16 104:24 177:6,9,20,24 193:3 201:21 235:8,8,10 236:5
162:25 181:14 178:5,9,18 179:14 player (1) 174:19 236:22 237:19
Pavel (1) 109:8 179:23,25 180:6 players (1) 222:18 238:22,24,25
pay (11) 55:14 78:5 186:1 189:21 192:9 playing (2) 185:11 239:23 240:18
117:7 163:18,21 192:20 202:6 265:23 241:12,24 243:12
164:7 166:10 207:12,17,25 208:4 pleading (4) 23:11 256:14 261:23
202:22 243:10 208:5,8,14,20 30:2 81:8,15 263:20 267:3 268:7
251:23 256:25 209:2,6 210:16 pleadings (1) 68:20 270:19
paying (3) 56:22 211:19 213:14,15 please (147) 1:6 3:19 pointed (1) 240:21
78:13 170:3 213:18 216:17 6:11 10:11,15 16:4 points (25) 13:11,22
payment (4) 78:17 222:6,21,24 223:19 16:14 22:23 23:11 13:25 16:18 18:8
96:18 156:25 231:22 232:9 23:13,24,25 24:8 21:12 22:17 51:23
242:24 235:14 237:3 238:2 24:17 25:14 26:25 115:3 147:12
payments (9) 73:8 238:17 241:18,21 27:2 28:11,15 183:12 205:16,23
78:19 117:4,11,23 242:8,11,16,23 29:25 30:2 31:9 206:5,10,16 211:15
118:22 156:17 243:3,6,22 244:5 32:11 33:13 34:14 211:25 212:15
157:15 163:6 253:23 257:4 38:14 42:20 46:15 214:13 215:4
penal (1) 115:22 Petersburg’s (1) 243:7 46:20 47:25 48:11 217:20 239:8
pension (1) 226:8 PetroLes (1) 164:14 51:9,10 52:3 54:2 240:14 241:11
people (44) 7:6 11:6 Petroleum (2) 67:13 59:15 60:16,22,25 police (22) 6:16,17,18
17:20,25 18:1,18 234:18 61:15,17 63:6,7 8:2 10:21 20:19
18:22,25 35:10 Peugeot (1) 79:2 64:16 65:4,12 24:14 35:1,2 46:14
40:25 49:12,20 pharmaceutical (1) 68:22 70:23 74:3 48:2 49:12,17,25
57:9 61:16 88:6 167:23 76:19,20,22 78:8 191:18 192:12,16
92:8 106:5 155:15 phone (1) 193:2 79:10 81:7,7,17 192:20 193:8 244:3
157:4 159:1 168:3 photo (1) 194:8 82:10 83:19 84:17 252:5 258:15
168:4,12 170:2,2 photographic (1) 84:24 85:3 87:10 policeman (10) 47:20
175:5,6 176:14,16 268:12 87:13 88:24 91:10 50:25 193:7,11,18
188:12 192:23 photographs (5) 94:10,11,25 95:15 193:21 252:13,14
203:7 209:24 228:9 229:10,12 230:16 95:16 97:3 101:4,5 252:18 259:22
228:11,17 229:15 230:17 232:22 101:15,23,24 policies (1) 168:12
233:14,23 254:1,3 photos (4) 188:4 103:20,22,23 104:8 polite (1) 67:5
255:20 262:6 270:8 193:25 194:3 104:14,19,23 105:5 political (12) 31:11

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

289

February 24, 2016 Day 16 — Redacted

34:4 57:19 60:13 246:8,9 248:13 146:23 171:10,11 108:13 115:7,13 201:8 217:20
62:21 156:3 170:15 267:3,8 268:10,14 171:18 172:7 176:7 116:9,10 117:9 227:10 230:3
170:16,20 171:16 268:23 181:6,20 262:12 121:6,7 148:15 properly (2) 204:15
175:16 178:21 possibly (1) 232:22 pressed (3) 37:20 152:9 154:18 155:6 232:5
politician (1) 174:25 post (6) 159:8 173:22 75:7 209:7 155:25 156:19 properties (2) 151:1
politicians (5) 28:5 173:24 174:7,9,22 pressure (4) 43:15 164:6 167:8,9 227:20
29:11,13 174:25 posted (1) 174:17 109:16 213:7 217:7 172:10,20 173:4,8 property (9) 65:1
245:8 posting (2) 173:11,12 presumably (6) 54:11 176:19 179:5 67:25 85:10 88:1,4
politicise (1) 178:14 posts (2) 173:25 151:9 152:12,13,19 180:19 191:14 88:11 100:1 154:5
Ponomaryov (1) 156:8 174:5 276:15 195:25 209:16,18 192:14
pore (1) 21:12 potential (3) 153:19 presume (1) 257:4 210:3,8,14 211:9 propose (1) 147:13
port (84) 54:16 66:25 153:22 247:13 pretend (1) 276:12 211:10 212:21,22 prosecute (1) 31:18
78:5 80:8,11 82:14 potentially (2) 58:14 pretty (1) 8:13 213:11,16 214:15 prospect (3) 72:24
82:21 83:8,11 175:18 prevent (4) 30:17 216:24 217:10,11 77:21 78:22
93:18 94:14,19 potentials (1) 76:14 113:24 194:4,7 231:1,4,18 240:19 prospects (1) 228:11
95:2,5,6,9 96:7,9 power (37) 68:15 prevents (1) 115:15 241:10 242:10 protect (3) 154:12,15
96:12,12 97:4,17 105:9,14,18 107:4 previous (8) 19:21 243:16,22,23 167:1
98:12,24,24 99:1,7 107:5,12,15,25 20:1,7 34:9 98:20 245:18 270:9 protection (1) 254:1
99:23 100:3,4,4,9 108:2 110:12,23,23 112:16 176:1 process (26) 2:9 4:4 protesting (1) 156:3
100:24 101:3,19 111:1,8,14,19,23 230:20 4:23 5:15,17 7:3 protocols (2) 16:11
102:21,22 103:10 112:2 113:1 208:13 previously (2) 31:23 16:9 22:7 25:18 22:11
103:15 104:2,2 208:17,17 209:20 59:3 46:6,10 68:18 prove (1) 226:24
106:7,10,12,18 209:23 210:20,24 price (1) 71:21 77:25 106:21 proved (3) 32:7 38:11
107:6,7,24,25 212:3,20,25 214:23 Prichaly (4) 81:22 82:7 107:17 111:2 190:3 209:6
112:4,5 116:18,20 215:2,22 216:8,14 82:20 83:12 190:8 204:14 218:1 provenance (2) 12:14
117:18,18 149:17 217:5 234:22 priest (1) 226:23 219:8 232:10 184:10
149:18,22,22 powers (1) 105:2 Prime (2) 244:15,21 236:10 237:11 provide (1) 256:24
150:21,23,23,25,25 PR (1) 185:23 principle (1) 117:5 249:8 251:22 provided (3) 89:2
151:5,7,10,10,17 practice (5) 44:9,12 printed (3) 208:16 procurer (1) 39:23 229:12 260:15
151:25,25 152:22 45:19 116:22 173:6 210:20 239:18 produce (2) 149:24 provides (1) 169:22
152:23 165:8,8 pre-initial (1) 216:16 prior (2) 105:25 249:18 public (21) 11:4,5,6
188:8,11 191:6,10 preceders (1) 104:4 161:10 produced (8) 25:4 35:15 49:6,15 50:6
194:9 229:8 230:14 precisely (2) 184:11 prison (3) 32:18 54:3 81:9 102:7 111:2 119:5,17
247:15 250:11 188:8 106:16 252:19 112:1 172:1 249:20 159:22 172:8
portfolio (11) 106:25 prefer (2) 89:19 prisons (1) 252:21 268:17 178:11 247:22
224:4,6,9,11,22 109:18 privacy (1) 171:17 producers (2) 249:15 248:8 263:11,16
226:15 241:17,22 prejudice (1) 30:16 PrivatBank (1) 223:10 249:24 267:6 268:4,7
242:2 243:9 Preksin (1) 245:2 private (18) 49:9 producing (3) 171:24 270:21
portfolios (1) 223:19 preliminary (1) 80:21 120:15,24 121:12 210:22 265:17 publicity (5) 49:10,11
Portovoe (1) 149:18 preparation (3) 218:1 121:13 150:9,11 production (2) 190:3 161:9 172:11,11
portray (1) 170:14 219:8 260:19 193:20 248:5 268:6 190:8 publicly (3) 106:3
ports (40) 90:18,19 preparatory (1) 269:7,12,17,19 professional (2) 172:9 156:6 247:16
91:5 92:6,14 93:3 276:16 270:23,24 278:6,11 213:6 published (5) 174:10
95:10 96:4,11,13 prepared (5) 1:12 privatisation (2) 66:23 profit (1) 248:18 174:21 175:3
97:1,13,15 98:25 119:21 163:21 66:25 profitability (10) 176:12 262:4
98:25 99:16,22 183:18 201:23 probably (23) 15:4,22 218:6,11,20 219:3 pull (1) 193:18
100:5,7 106:3,12 preparing (1) 121:10 20:19 22:14 41:6 219:11,19 220:11 purchaser (1) 257:14
106:20,25 107:17 prepayments (4) 44:3 67:16,19 95:7 220:12 222:17 purchasing (2) 168:13
113:19 148:8,14,22 26:13,17 80:21 105:7 110:9 120:17 227:18 257:3
148:25 149:5,14,20 249:16 146:21 166:20 profitable (1) 250:10 purport (1) 33:2
149:25 189:11,16 prescribed (1) 182:13 183:13 191:9,13 progress (1) 232:24 purported (1) 117:8
191:11 198:15 presence (3) 35:3 198:7 199:6 201:9 project (29) 25:15 purporting (1) 8:12
199:5,16 223:20 47:22 49:1 211:13 228:13 26:2,6,8,10,22 purpose (11) 54:15
position (31) 2:10 present (3) 40:10 247:9 27:15,17 28:23 76:17 114:12,22,25
22:12 36:12 44:21 169:17 247:12 probe (1) 115:18 29:1,5 71:16 76:14 150:12 154:14
45:4 52:16 75:23 presentation (14) probed (1) 58:12 78:3,12 160:13,13 168:1 172:6 208:21
151:22 173:3 179:5 79:8 184:3 185:16 problem (8) 10:6 187:11,15 200:14 208:22
200:19,23 201:15 185:24 186:2 188:3 172:14 205:22 232:4 234:20 purposes (6) 11:7
201:21 202:2 206:6 188:6 191:11 192:3 206:8 219:15 252:5 236:19 249:25 13:16 28:9 255:4
211:24 212:5 214:2 199:21 201:23 254:17 270:18 250:3 251:3,4,8,12 265:3 277:2
221:20 222:4 202:1 226:22 278:8 problems (3) 84:15 projecting (2) 100:25 pursuant (1) 107:25
228:10 233:24 presented (5) 155:7 155:13 250:1 249:24 pursuing (1) 26:2
237:11 241:2 243:7 157:21 165:22 procedure (2) 15:24 projects (15) 59:11 put (64) 3:13 5:3,9
244:23 252:12 166:6,8 18:5 78:20 160:9 186:13 10:11 12:7,15,20
260:25 266:9 270:5 presenting (1) 157:8 proceed (2) 213:22 188:8,11 222:23 13:4,8,17 16:7 19:7
positioned (1) 255:24 presently (1) 270:12 216:19 223:13 241:13,14 19:10 23:1,5 24:2
positive (3) 75:5,18 preserve (4) 91:24 proceeding (1) 30:18 241:14,16 242:2,3 33:9 36:25 41:5
76:7 92:12,22,23 proceedings (92) 2:13 251:2 43:15 48:22 51:23
positively (1) 152:20 president (16) 27:11 10:20 15:4 18:20 Prokhor (2) 29:16 51:23 55:4 58:20
possession (6) 149:16 43:23,25 44:2,5,7 21:14 31:24 32:1,6 255:21 60:12 63:9 65:18
229:20 233:25 44:11,16,24 45:1 32:14 33:18,21,23 promised (1) 11:10 65:25 66:14 68:8
236:15 239:3,3 61:7,8,13 245:5,12 33:25 35:12,19,25 promissory (1) 256:25 70:13 73:25 83:3
possibilities (1) 43:19 245:14 37:19,24 38:3,4,5 promo (1) 169:1 104:1 113:6 154:9
possibility (3) 115:12 President’s (1) 61:23 38:13,25 39:15,17 promoting (1) 24:24 154:13 158:8
246:16 264:20 presidents (3) 44:19 41:10,11,19 43:10 pronouncement (1) 162:25 164:22,22
possible (19) 3:3 11:1 44:20 45:3 44:18 51:8 64:4 189:10 165:18,21 174:22
39:21 93:24 94:12 press (21) 35:16,17,20 84:8 87:24 90:11 proper (10) 11:9 175:18 183:12
106:21 193:5 194:5 35:22 36:4,8 41:1,2 92:4 93:10 95:18 68:16 90:12 120:18 187:21 188:23
203:24 206:7 227:7 67:2 92:3,4 107:3 101:11 102:9 152:17 184:19 192:7 198:8 202:16

205:16,16 206:16 202:21 204:20
207:2 211:13,15 206:9 218:3 223:2
230:15 239:5 223:6 225:12
251:15,20 252:19 230:13 232:20
261:21 236:18 240:24
Putin (3) 29:15 158:24 241:6,7,11,24
159:9 245:1 246:2 255:13
Putin’s (2) 158:22,24 256:5 258:1 260:6
puts (1) 14:20 262:24 269:5
putting (4) 11:23 275:18
12:17 227:17,17 quiz (1) 207:19

Q R
Q/1.1/1 (1) 173:21 radiation (1) 190:4
Q/1.1/2 (1) 174:2 radio (4) 161:14,23,25
Q/1.1/3 (3) 173:19 161:25
174:3,16 Radley’s (1) 10:10
Q/1/1/8 (1) 170:23 raid (9) 51:1 63:10,12
Q/1/8/231 (1) 170:22 64:14 84:5 178:7
Q/1/9 (1) 173:11 191:15 192:12
quality (13) 88:8,18 203:6
191:17 198:21 raiding (3) 49:18 63:7
199:25 229:2 230:7 64:11
232:8 236:17 239:5 raids (12) 46:14 47:3
241:23 246:7,11 47:4,9,14,21 48:2,8
quarter (1) 204:24 48:10,15 49:25
quasi (2) 115:23,24 50:20
queries (1) 12:13 rail (1) 233:7
question (45) 1:7 2:4 railroad (4) 198:1
2:18 6:9 8:22,23 231:13 235:9
15:5,6 33:9 36:23 236:16
42:19 43:17 48:22 railroads (10) 230:25
72:14 74:15 76:2 231:3,6,24 232:2
78:8 80:18 90:8,9 232:16 233:6,11
98:8 114:12 117:11 236:17,18
148:4 154:18 railway (1) 230:12
157:20 158:1,14 rain (1) 196:20
162:8,25 175:23,24 raise (5) 36:23 78:1,9
177:22 188:23 267:8,9
189:9 207:18 raised (2) 12:13 21:11
223:15 225:2 raises (2) 89:25 90:3
234:21 238:4 raising (2) 77:21 89:7
242:13,14 263:19 rate (3) 27:23 86:21
266:1 267:8 86:22
questioning (2) 120:8 rated (2) 224:12,12
120:25 rates (3) 164:20
questions (40) 42:7,8 218:16 219:15
51:20 52:23 89:25 rating (20) 221:19,21
90:3 103:25 114:8 221:25 222:2,3,5,7
114:16 115:1,17 222:9,13 223:2
116:4 120:19,23 224:9,12,15 225:22
147:18 150:8,10 225:23,25 226:1,7
155:3 158:10 241:19,25
164:10 165:7 166:9 re-emphasise (1)
170:4 172:16 227:14
183:21 186:24 re-evaluation (2) 70:1
200:18,24 205:5 70:5
206:25 207:15 re-examination (2)
212:10 231:18 205:5 211:6
246:23 247:3,4,8 Re-Gata (3) 100:10,10
266:25 267:15 100:12
278:10 re-published (1)
quicker (2) 89:5 158:8 174:22
quickly (4) 52:3,5 read (29) 29:7 30:5,21
65:13 147:7 37:9 39:4,6 48:3
quite (61) 2:2,16 5:11 58:22 60:24 65:12
5:13,19 9:8 11:13 101:15,16 104:15
11:15 13:2 17:20 104:18,22 147:16
18:20 22:8 26:17 158:5 162:5,24
38:20 40:19,24 171:5 181:14,17
41:5,5,7 48:19 211:4 212:9 228:11
49:17 50:25 55:16 228:13 236:3
67:16 95:9 96:20 241:19 266:13
96:22 113:16 reading (4) 46:19
115:23 147:3 212:7 260:21,23
158:20 171:24 reads (1) 116:16
175:5,15 183:2 ready (1) 185:11
200:14 201:13 real (14) 24:10 63:22

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

290

February 24, 2016 Day 16 — Redacted

63:24 75:8 78:22 REDACTED (32) rejects (1) 4:6 104:5 152:18 respect (33) 41:17 203:3 204:13
84:25 103:7,9 121:14 122:1 123:1 relate (2) 72:1 214:17 reply (5) 104:7 110:3 51:20 52:16 67:13 212:18,20 217:3
168:13 177:11 124:1 125:1 126:1 related (2) 73:11 167:9 179:9 186:25 74:12 100:18 104:4 222:15 224:25
186:11 204:6 212:2 127:1 128:1 129:1 224:1 replying (1) 109:21 111:25 120:22 230:1 235:3,13
216:11 130:1 131:1 132:1 relates (6) 8:2 33:11 repo (4) 243:20,24 188:10 202:5 236:9 246:25 247:2
realisation (1) 250:9 133:1 134:1 135:1 39:13 67:6 78:17 244:4 257:15 210:25 211:24 248:9,25 249:2,6
realise (2) 192:22 136:1 137:1 138:1 263:19 report (18) 10:10,20 212:5 215:4 217:8 251:14 261:22
269:7 139:1 140:1 141:1 relating (1) 186:10 73:4 75:14 76:10 218:15 226:19 266:21
realised (3) 250:4 142:1 143:1 144:1 relation (23) 28:22 81:23 152:10 227:3,6 230:24 right-hand (6) 7:22
251:12 257:8 145:1 146:1 270:25 30:1 33:14 34:17 195:11,12,15,21,23 231:11 235:7 15:14 16:24 17:7
reality (3) 160:4 248:7 271:1 272:1 273:1 34:19 48:24 60:9 195:24 196:7 197:7 236:16,18 237:23 87:17 258:12
257:9 274:1 275:1 68:18 78:4 84:7 197:9,15 229:24 237:24 239:23 rights (14) 37:13
really (54) 7:23 10:7 redirecting (1) 45:17 90:4,21 91:12,19 reported (2) 261:9,13 241:2 243:17 91:24 92:12,19,20
12:19 14:18 16:5 reduce (1) 248:13 95:20 104:1 120:20 reporting (1) 51:7 250:13 251:6 256:1 92:22,23 100:1
17:10 22:3 27:24 reduced (2) 44:21 153:17 154:22 reports (8) 64:2 149:3 respected (1) 156:11 154:5 192:15
41:3,8,20,20 47:18 118:12 164:13 171:14 149:21,22 175:22 respectfully (1) 89:14 193:10 251:25
48:19 53:18 56:14 refer (9) 84:25 86:6 200:20 260:16 230:1 232:12 respondent (1) 215:1 269:10 270:9
63:1 64:12 71:20 87:11 119:2 158:14 relations (4) 34:4 247:10 response (1) 162:18 riot (1) 192:20
77:2 80:16 88:19 162:21 163:14,17 237:1,4,12 represent (6) 39:20 responses (1) 236:1 rise (1) 204:24
96:25 109:21 147:9 219:24 relationship (2) 29:20 209:21 210:2 responsible (3) 31:22 risks (2) 71:24 253:21
167:25 176:16 reference (24) 1:23 55:2 212:20 213:4,10 31:23 175:4 risky (3) 241:16
183:11 184:23 16:13 48:4 59:3 relaxed (2) 40:20 53:2 representation (3) rest (1) 157:18 252:23,24
190:4 193:21 195:4 61:7 82:14 85:18 release (2) 171:10,18 168:24 205:14 restart (1) 93:4 rival (1) 8:11
199:8 204:14 85:19,21,23 87:5 released (1) 106:15 213:10 restriction (1) 119:6 River (1) 180:23
205:21,22 216:25 104:12 161:13 releases (2) 171:24 representative (5) result (7) 62:15 63:4 ro-ro (3) 78:24 189:22
221:4 225:18 162:6 175:17 181:4 172:7 27:10 193:16 83:20 84:20 93:11 189:23
226:20 230:3 181:6 182:11 relevance (1) 230:15 214:25 215:7 107:18,19 roads (2) 232:7
237:25 239:7 246:9 188:17 208:12 relevant (11) 1:19,23 262:11 resulted (1) 227:19 233:21
250:10 253:4,7 211:2 216:8 261:12 9:13,17 15:6 23:17 representatives (9) results (1) 72:8 ROK (4) 81:22 82:7,20
254:13 260:2 263:23 75:4 175:17 214:14 39:9 181:15 192:19 retention (5) 224:24 83:12
261:23 263:6 references (4) 37:25 215:16 229:7 193:6 206:22 224:25 225:1,4,15 role (1) 62:15
265:15 266:19 154:17 158:8 reliable (3) 69:13 214:22 261:25 retract (1) 206:23 roll-on/roll-off (1)
267:25 182:10 72:24 225:20 262:7,9 retrocession (2) 77:9
reason (9) 24:10 43:7 referred (6) 30:8 73:9 relief (2) 167:23 175:9 represented (4) 39:10 224:18,19 room (2) 259:3,24
50:24 66:12,15 85:6,12 157:5 rely (2) 58:17 60:18 165:6 169:2 210:8 return (10) 9:12 38:19 Rosmorekflot (1)
160:9 216:11 163:8 relying (3) 74:22 representing (18) 161:10 166:4 180:13
251:16 270:17 referring (35) 14:12 253:25 262:13 39:17 155:20 174:16 192:14 rouble (1) 86:24
reasonably (2) 93:21 18:5 20:6,6,8 25:20 remaining (1) 112:9 157:10 209:14,17 206:4 208:22 roughly (9) 86:20
220:22 26:20 33:20 58:5 remember (45) 9:25 210:13,14,24 212:4 252:23 254:18 118:7,8 164:20
reasoning (1) 256:7 59:9 83:4 85:10 10:5,22 11:14,15 212:17,22 213:1,12 returned (6) 6:24 185:10 188:9
reasons (2) 207:24 86:12,14 90:2 92:4 11:17 18:3,4 24:14 215:23 217:6,7,12 44:13 45:23 252:24 189:11 218:20
260:8 104:6 110:2 118:17 26:16 36:10 42:3 257:5 252:24 259:7 244:12
recall (1) 220:1 164:3 174:9 176:1 61:18 80:1 84:9 represents (2) 39:23 returning (2) 204:9 round (1) 21:16
receive (2) 118:13,14 181:18 217:23 88:1 96:14,16,19 208:6 243:17 routinely (1) 260:12
received (6) 94:18 219:23 223:15 103:11 104:3 reputation (16) 64:13 revaluations (1) row (3) 11:12,14,15
116:18 117:24 228:24 240:7 108:22,25 110:9 71:5,14,15,15,23 227:20 RPC (2) 88:25 89:22
181:1 197:1 236:2 243:15,19,20,24 112:15 118:5 148:9 72:1,12,16,18,19 reveal (1) 166:15 RUB (21) 86:19 87:20
receiving (4) 117:17 244:1 263:4 267:4 164:10 165:12 72:20,20 73:10,14 revealed (1) 115:20 87:23 94:23 95:12
117:21 118:8,11 reflect (2) 103:3,7 192:12 202:18 178:24 revealing (1) 232:21 95:12,12 97:2,9,12
reception (2) 61:3,24 refresh (2) 46:19 211:8 217:10 221:7 reputational (1) reversed (1) 45:16 100:15,22 102:25
recognise (2) 160:4 91:17 221:10 223:11 178:18 revise (3) 163:5,24 103:3 164:12,14,17
180:16 refugee (1) 171:16 226:9 227:21 request (4) 29:5 30:8 219:14 164:20 237:23,24
recollect (5) 2:3 89:6 refused (1) 7:5 229:18 234:19 33:3 268:24 RF (1) 19:3 242:19
89:12 118:19 regard (6) 75:6 200:23 255:11 259:8,11,13 require (2) 78:16 RF0 (1) 17:5 RUB~950 (1) 164:13
233:17 201:22 228:12 260:5 206:11 right (94) 2:1 5:13,19 rubbish (1) 230:13
recollection (4) 235:14 270:11 remind (6) 10:18 required (3) 76:13 7:1,15,25 8:24 9:6 Ruksha (1) 245:4
219:13 227:15 regards (3) 249:4 11:16 162:8 187:1 115:16 240:9 9:18,19 12:14 13:2 rules (2) 36:2 210:1
249:3 258:7 250:20 260:25 234:23 258:6 requirement (1) 13:23 14:9,14,24 ruling (1) 119:12
reconsideration (1) region (5) 24:25 25:17 reminded (1) 226:22 106:19 21:11 23:21 26:1 run (5) 3:8 170:24
45:24 26:20 27:20 55:6 reminders (1) 110:2 requirements (1) 27:8 29:9 31:20 181:7 243:16
reconstruction (4) regional (1) 35:2 Renault (1) 79:2 69:25 45:13 52:10,19 250:22
79:22 231:24 register (1) 93:14 Renord (4) 87:1,5,22 requires (1) 242:1 54:11 55:20 57:17 running (6) 27:25 65:2
232:11 233:11 registered (2) 93:12 236:7 requiring (1) 78:18 59:20 61:7 72:16 66:3 80:7 116:24
record (10) 50:6 60:17 156:14 Renord-Invest (1) reschedule (1) 256:12 77:18 80:2 82:6 227:23
74:24 95:5 162:11 registration (1) 93:16 85:8 researches (1) 58:25 83:8,13 85:25 86:3 Rusiv (3) 186:7,15
203:8 215:14 267:7 regular (4) 7:12 renovated (1) 196:14 reserve (7) 23:21 86:15,16 87:4 251:4
268:13,14 117:19 172:7 renovation (1) 231:12 52:15 200:19,22 89:21 96:24 98:5 Russia (50) 11:5 15:1
recorded (2) 110:6 241:16 Rented (1) 83:10 201:21 202:1 98:10,17 99:21 24:10 26:9 28:5
260:7 regularly (1) 69:19 renting (1) 83:15 265:14 103:18 107:10 32:7 33:3,22 41:16
recording (10) 35:11 regulation (3) 241:25 repairing (1) 231:23 reserving (2) 265:3,13 109:3 111:10,20 42:3 43:23 44:9
35:18,21,25 36:6 265:20,24 repeat (4) 13:11 97:3 residences (1) 158:25 150:18,20 155:5 46:7 58:7 61:8
60:21 161:17,20 reinsurance (7) 224:1 170:12 252:11 residual (1) 63:24 158:11 161:23 67:24 69:15 73:12
193:4 269:23 224:3,9,14,17,20 repeated (1) 148:7 resilient (1) 199:14 167:6 168:25 73:13,21 78:24
records (5) 3:25 224:20 repeatedly (1) 164:5 resist (1) 68:14 170:10,13 171:18 81:1 93:13 111:1
214:13,14 215:3,21 reinsured (2) 224:5,6 repeating (1) 175:9 resolution (2) 148:14 173:18 176:4 148:9 149:13
recover (2) 90:15 reinsuring (2) 222:19 replace (1) 31:25 149:5 177:14,15 182:15 154:22 155:13
92:17 224:11 replied (3) 108:11 resolutions (1) 149:24 182:21 186:9 156:5 159:2,16,19
rectangular (1) 9:21 reiterate (1) 229:22 167:12 179:6 resources (4) 165:24 189:13 190:21 160:5 169:16
red (1) 199:22 rejections (1) 153:6 replies (3) 29:18 166:2,3,5 196:11 198:2 202:3 170:17 175:1

179:11 181:13 186:1 192:14,16 194:4 209:19 223:18 232:2,3 233:4 250:5 251:16 252:8
Russian (115) 19:20 20:18 26:7 27:2,11 28:12,15 29:10,16 29:22 30:8 31:25 39:20,23 40:4 41:3 41:24 44:18 46:5 49:4,9,9 55:2 56:3 56:3,5,7,11 57:1 59:17,18 61:9 62:10 64:9,13,18 64:21 65:2,10,15 65:22,24 66:6 67:14,20,24 68:9 69:16 77:24 78:17 79:6 101:24 102:2 105:5,6 106:1,16 109:18 110:15 111:6,18 112:22 113:16 156:7 161:21 167:19 169:12,18,22 171:6 171:24 174:2,11,25 175:5 176:23 181:14,17 190:5 193:19,19 196:24 207:4 214:10 221:21 222:3 224:2 224:13 227:8 230:12 232:19 233:6 239:14 241:6 241:13,15 242:20 243:16,17 244:15 244:17,17 245:4,5 247:18 251:21 252:21 253:5 255:15 262:3 266:4 266:11,19 269:1 270:3

Russian-Singapore (1)

55:22

Russian-speaking (1)

170:8

S

safe (1) 106:14 safety (3) 49:14 190:9
233:10 sake (1) 235:22 sale (3) 65:22,22

67:25

sale-purchase (1)

256:24

Saturday (2) 192:11 192:24

save (4) 51:2 60:3 169:11 203:4

saved (1) 47:18 Savelyev (22) 47:1,18

47:22 48:18,24 59:21 66:8 84:23 177:11,17 178:2 202:7 255:6,19 256:2,13 257:24 259:12,12,17,24,24

savings (2) 51:3 65:10 saw (10) 2:24 6:6 7:16 9:24 25:5,11 26:18

70:12 100:23 249:19

Sawyer (2) 103:12

195:24

saying (17) 13:17

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

291
February 24, 2016 Day 16 — Redacted

31:21 42:3 50:11 88:6 seeking (2) 35:8 194:16 263:11 83:19 84:17,24 Singapore (2) 55:21 107:23 110:19

75:16,22 82:20 secondly (4) 62:13 251:21 Sevzapalians (7) 37:15 85:3 91:10 94:10 223:23 112:19,24 114:2
85:23 92:11 109:11 159:18 213:9 seemingly (1) 98:11 37:18,19 38:8 101:5,23 104:8 single (3) 156:23 154:10 158:14
119:2 163:20 269:18 seen (45) 1:10 3:15 234:17 236:7 110:4 111:4,17 215:8 248:4 160:21 161:2,6
174:23 175:4 189:6 secret (3) 15:12,13,18 6:13 8:24 9:7 10:1 248:21 155:24 158:13 sit (3) 40:8 213:24 163:13 170:12,23
201:19 228:14 secrets (2) 16:7,10 10:21 11:1,9 16:22 Sevzapalians’ (1) 160:18 162:17 276:9 175:25 177:22
says (16) 8:18 39:2 secure (1) 251:7 17:19,25 23:2 34:22 163:11 170:22 site (2) 77:12 174:6 179:17 181:17
54:6 60:25 67:22 securities (1) 265:18 35:10 36:11 52:21 Shaglino (8) 24:25 184:25 194:23 sits (1) 29:21 182:3 186:22,22
79:14 110:18 security (14) 40:9 62:4 78:4 119:8,9 28:22 100:23 197:13 202:5 sitting (7) 40:6,11 188:17,23 196:19
169:15 180:11,20 68:1 150:24 151:24 177:19 180:17 247:16 249:4 250:3 207:10 209:11 223:19 258:16 199:10 203:25
181:10 214:15 163:18 179:15 184:23 187:16 250:21 251:7 211:5 218:11,19 259:16,17 260:1 204:11 206:19
215:6 237:4 256:23 190:9 192:21 193:6 201:10,25 202:11 sham (1) 154:12 219:11 239:15 situation (7) 29:17 214:17 215:17
261:8 193:17 258:4 211:4,11,14 212:9 Shanghai (1) 55:23 240:8 268:16 40:19 49:5 151:17 218:25 235:6 239:2
Sberbank (7) 65:6,9 259:23 260:3,8 212:10,11,12,13 shape (6) 194:11 shows (7) 28:4 29:21 243:4,6 253:3 244:17 256:10
65:16 66:10 67:15 see (218) 1:13 5:4,7 222:1 228:25 195:2 196:10,12,17 35:4 59:7 194:22 six (5) 104:6 194:16 260:18 261:14,14
67:19,24 7:19 12:8 14:23 230:23 231:14 232:13 219:3,19 207:24 263:10 264:13,25 267:16
Scan (8) 63:14,19 15:23 17:6,15,18 232:7 234:7 240:24 share (3) 169:25 sic (1) 148:12 266:5 sort (13) 21:17 24:23
65:23 68:18 164:13 18:1,17,24 20:4,11 260:22,22 262:20 178:11 242:1 side (19) 1:20 13:4 sixth (1) 259:11 29:19 65:15 67:15
164:14 187:10 21:1,3,4 23:2,13 sees (1) 184:10 shared (4) 173:25 15:14,15 16:25 size (2) 187:24 209:4 155:7,22 172:6,12
226:4 25:7,15,22 26:25 Seleznevo (2) 85:15 174:8,8,17 17:7 38:17 106:14 skeleton (1) 74:5 178:21 184:7
scandal (2) 106:22 27:6 28:14,15 29:6 87:17 shareholder (3) 83:5 182:19 190:22 skip (1) 240:14 207:18 268:11
107:2 29:23 30:9 33:16 sell (6) 71:22 99:25 92:5 151:19 195:1 198:24 Sklyarevsky (2) 235:4 sorts (1) 201:4
Scandinavia (19) 64:6 34:10 37:13,16 106:12,18 168:12 shareholders (1) 206:23 212:3 236:25 Soshnik (1) 83:4
73:16 91:7,8 39:1 40:15 41:21 190:15 248:4 219:22 234:23 sleepy (1) 40:21 sought (4) 41:23
221:16,20 222:5,14 48:7,8,10,14,17 seller (5) 71:21,21 shareholding (4) 96:3 237:12,13 258:12 slide (6) 79:11 95:4 170:14 178:20
222:17,22 223:6,13 51:9 53:6,7 54:5,19 98:25 99:23,24 112:4,9 178:8 sides (1) 207:4 192:7 193:24 248:9
223:16,17 224:5,21 54:20,23 58:24 selling (2) 236:10,11 shareholdings (2) sign (10) 23:3 102:16 194:14 202:15 sounds (1) 191:19
225:15 237:8 59:13,19,23 61:5 sending (1) 177:25 165:11,14 105:20 209:7 258:8 slides (1) 194:15 source (2) 225:20
243:19 63:8 64:19 65:7 sends (1) 179:7 shares (17) 67:19 258:21,23 259:6,22 slight (1) 255:4 262:4
Scandinavia’s (1) 67:14 68:2 71:2,6 senior (1) 258:1 96:12 101:3 102:21 264:22 slightly (4) 175:22 sources (2) 117:24
223:24 71:11 77:3,4,6,12 sense (1) 206:20 102:22 104:2,17 signature (15) 17:24 201:18 221:2,3 178:12
Scandinavian (1) 78:23,24 79:11,14 sent (8) 10:22 104:5 107:6,7,19,24 18:10 19:19,22 slip (1) 255:7 speak (10) 58:19 62:6
245:24 81:12 82:14,15 108:5,10 109:25 109:12,23 243:18 20:11,21 21:8,20 slog (1) 277:6 168:16 170:6
schedule (5) 1:18 84:4 85:1 89:4,21 110:2 148:18 256:5 256:25 257:3,14 37:24 102:6 111:21 small (12) 2:18 8:21 188:21 204:6 205:3
23:12,18,24 58:15 89:23 91:14,16,16 sentence (6) 32:4 sharing (2) 169:25 111:25 240:12,12 178:8 192:2 205:25 246:16 267:12
schemes (3) 49:18 91:25 92:2 94:18 163:2,24 181:10,19 176:14 259:7 218:8 226:11,23 269:25
158:24 159:9 94:19,21 95:2,8,10 261:7 sheet (4) 72:8,15,23 signatures (16) 5:16 228:25 240:14 speaking (13) 38:7
school (1) 254:23 95:13,22 96:4 97:2 sentences (1) 228:15 87:18 8:9 13:7 16:20 250:15 267:2 62:20 78:1 93:2
sciences (1) 226:25 98:3 101:11,21 separate (4) 235:8 shell (1) 100:10 17:22 18:12,17,19 smart (1) 187:1 96:24 156:23 170:7
screen (18) 10:11 103:25 105:3,17 259:18 268:15 shipping (13) 79:6 19:1 20:7 21:5,22 Smirnov (6) 37:4,17 180:19 182:1
23:12,13 28:16 106:20 109:5 270:17 189:16,20 210:15 113:17 239:24 37:22 38:15 235:5 234:13 248:16
70:23 85:21 86:9 110:14 113:15,21 September (12) 54:7 213:12,13 215:7,12 240:7,10 267:5 262:15 263:3
86:15,17 87:13,17 116:15 117:14 54:23 67:7 79:20 223:20,20 249:9,10 signed (21) 12:18 so-and-so (2) 58:8 special (6) 15:24
89:18,20 94:12 120:1,14 147:17 94:14 95:2 98:19 250:5 17:20 22:1,20 23:4 59:12 39:16 111:2 220:20
95:15 103:22 148:15,18 150:10 148:12 149:8 Shokhin (1) 244:18 23:9 78:13 80:21 so-called (2) 66:3 258:2,13
112:23 169:3 152:21 153:14 187:12 251:17 short (18) 51:10 52:17 102:5,8,14 105:15 244:13 specialised (2) 25:5
screens (1) 182:16 155:10,18 156:13 253:5 53:23,25 94:8 105:18,22 107:15 soil (1) 232:8 228:18
scroll (18) 23:25 95:22 157:8 161:11,13,18 September/October… 146:24 184:1 149:7 223:1 240:5 sold (2) 82:1 236:14 specialist (6) 189:16
171:6,7 173:10 162:9,17 163:2 105:25 106:9 185:12 186:2 242:7 249:14 solely (2) 91:24 92:12 195:17 198:12
174:1,3 196:4,9,16 169:19 171:1,6 sequence (2) 17:16 191:13 192:3,18,25 264:15 solid (1) 244:20 227:5 228:18
197:6,24 198:17 172:15,17 175:7 182:13 203:5 205:9 217:1 significance (1) 12:23 Solnechnoye (1) 238:10
199:18 200:8 207:5 176:13 179:16 Sergei (2) 158:20 228:4 238:24 significant (5) 62:11 251:4 specialists (3) 195:23
208:10 235:21 180:14 181:10 159:6 shortened (1) 191:24 62:23 95:9 150:21 solution (1) 243:3 229:22 246:11
sea (6) 79:6 80:10 187:1,18,25 188:1 series (4) 13:14 31:4 shortens (1) 56:25 156:2 solve (1) 29:17 specially (2) 212:15
82:14,21 83:8,11 188:2,5,15,16 51:23 80:19 shortly (3) 2:2 106:15 signify (1) 212:8 solved (2) 250:2 237:12
seal (10) 111:24 191:8,9,16 192:22 serious (9) 63:3 80:14 183:24 signing (5) 58:7 254:17 speculate (1) 117:3
113:19 148:4,8,19 193:10,20,21 194:9 81:4 82:4 106:13 show (36) 10:10 177:25 252:20 somebody (5) 14:21 spend (1) 217:17
148:22 149:14 194:12,18,25 195:1 175:15 177:20 34:14 38:14 86:7 265:1,4 18:11 21:5 181:20 spent (4) 32:18 53:14
150:1,4 266:5 195:2,19,25 196:3 206:14 224:24 103:20 118:24 signs (6) 188:14 193:2 255:13,14
sealed (1) 102:5 196:10,12,13,15,17 seriously (2) 73:19 166:1,13 170:20 258:17,17,18,18 son (1) 178:8 spoiled (2) 173:16,17
sealing (2) 5:16 13:6 196:22,23 197:1,14 118:11 174:12 179:5 188:4 259:1 soon (3) 49:10,15 spoke (1) 180:22
seals (2) 5:8 8:9 197:14,23,25 198:4 served (4) 38:25 81:9 188:8 193:24 silence (1) 48:19 203:24 spoken (1) 108:8
search (1) 251:13 198:7,20,23 199:3 94:15 119:11 194:14,18 195:4,16 silent (2) 40:20 sooner (1) 146:25 sports (1) 190:12
sec (1) 51:11 199:19,20,25 200:8 service (1) 169:21 199:5,7,9,11,16 252:19 sophisticated (1) 77:9 spot (2) 6:7 9:25
second (37) 17:19 208:12 211:8,11 services (2) 168:23 200:11 202:15,24 similar (5) 20:16 sorry (91) 2:18 3:21 spring (1) 189:12
21:16 22:1 23:13 214:1,10,15,16 179:15 203:1 206:1 211:21 91:20 170:25 10:18 13:18 14:12 squeeze (1) 246:19
26:16 34:8 38:9,13 215:3,5,19,25 session (2) 207:19 218:22 228:8 229:2 210:12 242:3 23:5 26:10 30:5,5 St (114) 24:13 31:13
41:11,15 43:22 216:10,24 217:8 270:23 239:9 258:16 Simonova (2) 64:4 30:20 33:8 37:9 31:21 33:12 34:18
44:7,9,19 46:12 225:5 229:7 232:15 Sestroretsk (1) 187:10 259:20 267:11 230:21 38:15 39:3,6 41:13 34:20,21 35:7,9
110:20 112:12 238:3,10 239:14,16 set (18) 8:11,24,25 showed (1) 200:1 simpler (1) 99:4 42:6,10,22 48:5,6 36:14,20 40:5
116:15 163:13 248:14 249:7 250:7 9:1 25:8,15 31:4 showing (7) 86:1 simply (19) 12:17 13:3 48:22 49:22 51:10 41:23 42:5 43:8
174:1 181:9 188:10 252:4 254:12 54:19 77:6,14 98:18 195:5 199:8 15:25 35:23,24 66:14,17,18 68:25 46:11 47:13 50:1,5
188:16 199:18 255:11 257:24 92:18 95:23 104:16 209:14 220:4 74:13 94:5 96:12 69:23 76:25 77:4 50:8 54:9,15 55:19
207:5 208:9,9,10 258:9 259:19 197:15 234:15 232:24 120:10 162:15 81:19 82:3 83:22 55:20 56:9,11,19
210:13 216:10 261:20 262:3,13,19 264:10,12,13 shown (45) 2:19 9:2 175:20 189:6 84:2,18 85:19,20 57:3,4,5,18,22 60:8
217:15 218:10 262:23 263:1 265:3 sets (4) 22:4,5 94:18 10:23 11:2 24:17 204:18 205:23 86:17 87:14 89:7,8 62:10,18 63:10,13
229:1 261:4,7,16 268:16 269:13 162:3 28:11 30:1 33:13 206:16 210:22 89:9,11,17 90:8 63:21 64:15 65:1
261:22 seeing (1) 248:20 settled (1) 235:11 47:24 59:15 60:16 237:19 265:11 96:21 97:3 103:6 66:24,25 68:5 69:5
second-hand (2) 88:3 seek (1) 60:8 seven (4) 3:25 53:17 65:4 79:4 81:17 276:3 103:24 104:20 69:18 70:3 73:5

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

292
February 24, 2016 Day 16 — Redacted

76:16 79:7 82:16 247:12 254:6 253:10 12:24 19:13 25:2 194:1,3,11 195:1 66:23 68:7 70:12

84:13,16,21,23 stated (7) 163:23 sub (1) 175:11 supervisory (4) 32:3 42:25 43:25 196:3 197:11 198:5 70:22 75:16,22
153:12 155:6 206:11 208:16 subject (16) 6:25 9:8 244:14,14,24 245:9 45:2 57:11 58:17 198:19 199:2,4,20 77:17 79:2,4,8,9,23
170:11,14,19 177:6 239:12,18 240:4,13 74:19,25 99:12 supplied (1) 152:7 70:17 74:24 81:14 199:25 217:24 81:8,8 83:2,25 84:6
177:9,20,24 178:5 statement (30) 23:14 114:19 119:6 supplying (1) 260:20 86:24 117:16 218:6,7,12,20 84:14 85:5,20
178:9,18 179:14,23 24:14 31:9 37:4 120:23 224:18 support (18) 27:10,13 153:10 169:21 220:13,19,21 229:2 87:24 90:19 91:4
179:25 180:6 186:1 38:24 40:13 44:23 227:10,15 246:9 27:15,17,19,20 176:21 179:12 229:8,15 230:24 92:8 93:5 96:10
189:21 192:9,20 46:17 47:25 63:8 257:14,19 263:16 29:1,5 43:21 59:23 214:12 218:25 231:13,22,25 99:20 100:12,23,25
202:6 207:12,17,25 84:3 85:6,11 87:12 264:4 60:13 62:22 63:3 227:22 228:16 234:14,17 236:9 103:14,16 104:5,10
208:4,5,8,14,20 94:13 95:5 154:1 submission (2) 158:4 149:6 152:20 240:16 241:3 247:15 248:16,21 105:6,24 106:5,8
209:2,6 210:16 155:11,21 160:19 166:24 192:20 225:13 242:12 257:2 250:7 106:24 108:21,25
211:19 213:14,15 162:22 180:3 submissions (8) 52:17 246:17 259:10 terminals (8) 49:8 109:2,4 110:6,9,10
213:18 216:17 182:23 203:12,13 52:18 58:14 59:14 supported (2) 156:6 taken (25) 2:23 3:24 186:10,13 187:16 111:21,21 118:12
222:6,21,24 223:19 203:17,18 235:25 76:7 175:21 205:11 247:13 8:8 9:11 17:2 36:13 187:18 191:4 118:17 119:24
231:22 232:9 236:25 252:10 278:9 supporting (3) 62:18 53:12 58:13 66:24 200:15 243:18 120:12 147:2,3
235:14 237:3 238:2 statements (11) 18:1 submitted (1) 214:4 93:8 245:11 85:12 112:15 terms (9) 11:23 46:4 150:8,11,19,22
238:17 241:18,21 18:15 118:18,19 submitting (1) 214:4 suppose (1) 183:4 116:24 161:25 58:19 83:3 110:18 151:8,22 152:8
242:8,11,16,23 120:17,21 154:21 subsequent (1) 43:3 supposed (1) 5:3 192:2 205:18 214:3 163:23 184:11 154:7,20,25 156:14
243:3,6,7,22 244:5 204:19 213:16,17 subsequently (3) supposition (4) 8:4 215:4,16 218:13 221:11 235:12 158:4 159:12
253:23 257:4 229:4 115:15 177:19 43:20 45:6,14 219:7 221:8,12 terrible (2) 204:12 160:22,23 162:14
stability (1) 228:4 States (1) 158:21 268:19 sure (80) 5:13 6:14 253:12 254:15 205:22 162:15,22 164:3,22
stable (2) 196:13 status (7) 151:12 subsidiary (1) 98:12 10:2 12:2,20 16:16 256:15 terribly (1) 204:7 165:18 166:19,20
221:23 152:2,22 228:3 substantial (4) 26:17 26:23 34:7 38:23 takes (2) 2:8 25:18 territories (2) 80:9 169:5 171:10
stage (23) 3:24 18:12 231:7 232:12 249:7 101:19 165:23 46:12 51:1 54:24 talk (1) 204:2 230:2 172:21 174:9 175:4
51:3 59:12 62:2 stay (2) 32:18 88:16 249:16 54:24 58:16 61:14 talked (1) 156:18 territory (10) 79:22 176:1,13,17,18,25
67:18 84:15 92:16 staying (1) 254:19 succeeded (1) 60:14 62:7 66:4,8 72:11 talking (4) 85:14 190:22 194:13,25 177:3 178:25
93:10 114:17 115:2 steadily (1) 114:9 succeeding (1) 167:10 83:11 85:21 88:2 92:21 93:1 157:24 195:2 196:11,12,17 182:21 183:1,22
149:23 154:23 steal (1) 63:14 successes (2) 64:6,7 92:21 94:5 98:22 taped (2) 260:11,13 198:21 232:4 184:7,20,21 185:6
159:5 187:13 step (3) 173:2 187:21 successful (4) 64:8 105:21,21,21 Tarasova (1) 22:20 test (1) 175:17 185:8 186:16 187:4
200:23,24 209:7 232:5 78:12 166:18 107:14 110:11 target (6) 64:14 80:8 text (3) 5:16 13:6 188:1,4 189:6,9
231:8 238:5 250:1 Stepanenko (6) 64:23 250:10 111:24 112:16 159:3 246:20 251:7 235:11 191:2,10 193:1
251:10 263:14 64:24 66:1,6 68:3 successfully (1) 78:25 114:9 118:3 121:3 255:18 thank (37) 1:17 22:18 195:7 196:4,7,19
stages (2) 78:2 251:6 68:12 sudden (1) 76:4 121:3 148:10,21 tax (5) 49:12 93:15 22:23 36:9 37:11 199:6,15 200:3,13
Stalevskaya (1) 244:1 stick (1) 57:14 suddenly (3) 49:11,13 152:4 155:4,4,4,19 149:3 168:8,14 38:22 47:17 76:1 200:19,22 203:23
stamp (32) 2:4,6,7,10 stolen (2) 63:15 107:1 162:10 168:22 taxi (1) 253:12 76:18 104:13 114:7 204:8 206:11,19,24
2:12 3:1,13,22,23 166:22 suffered (1) 24:9 178:1 180:17 team (2) 56:7,20 116:11,12 147:23 207:1 209:6 211:1
4:3,21,24 5:14 7:20 stop (2) 47:21 194:24 suffice (1) 263:18 182:10 183:5,10 technical (4) 231:10 153:5,8,24 164:2 211:2 212:3,11
7:25 12:22,23 13:3 stopped (4) 47:21 sufficient (2) 71:18 184:23,25 185:2 233:10 242:13 170:9 183:24 215:14 216:1,15
15:8 19:3,16 20:14 49:2 191:12 193:23 247:10 188:3 200:6,21 267:3 200:12,16 205:7 217:15,16,21 218:2
20:16,19 21:16,16 stored (1) 190:11 Sufficiently (1) 168:18 202:8,11,13 205:6 technology (2) 198:3 235:2 236:3 243:14 218:16 219:9,14
22:1 113:3,5,10 storing (1) 15:24 suggest (33) 29:19 208:24 210:9 211:7 267:25 246:15,21,22 222:2,10,25 227:10
208:5 266:15 story (9) 67:10,21 31:15,20 35:6 46:5 212:12 213:25 telephone (3) 109:15 267:19,21,22 268:2 227:16 228:5,25
stamped (2) 112:14 71:25 80:16 167:21 46:9 48:23 50:12 215:19 220:22 253:9 255:12 268:3,25 270:20 229:2,6,25 230:4
149:7 176:17 253:14 51:4 53:1 62:8,13 222:6 226:9 229:6 tell (28) 14:5 40:3 277:7 234:1,5,6,13,18,24
stamping (3) 5:17,22 262:19 263:7 65:20 71:12 72:25 230:15 241:3,8 45:15 60:4 108:8 thanks (1) 46:1 235:6,21,24 238:5
12:1 strain (1) 7:4 73:15 77:20 82:19 248:6 249:1 255:13 109:11,13 113:23 theme (1) 115:11 238:14 239:1,7,16
stamps (16) 1:9 2:25 straitened (1) 117:12 84:18 88:3 109:19 256:18 263:22 118:2,4 149:23 theoretically (2) 240:1,25 241:5,8
8:6 13:15 16:7 strange (9) 3:17 15:16 120:16 150:14 268:10 275:18 153:6 157:4 171:3 106:21 193:5 242:5 245:16,17,23
17:22 18:13 20:6,8 22:1,8 75:7 111:22 157:8 178:13 surely (4) 108:7,7 177:13,17 178:22 thing (8) 4:8 73:12 247:18 248:6
21:5,6,7,22,23,24 117:6 216:6 238:19 179:20 180:2,4 109:14,22 186:3 192:8 201:16 172:24 199:23 250:10 251:16,18
240:7 strategic (1) 254:25 191:13,21 210:5,7 surprise (1) 45:13 206:5,6 207:22 201:9 202:9 210:13 252:14 253:2 254:2
stand (2) 39:18 strategies (1) 229:19 246:8 surprised (2) 201:18 210:10 218:22 218:10 255:2,6 256:17
213:21 strategy (1) 43:18 suggested (9) 39:4,8 263:1 219:17 225:18 things (24) 6:7 40:18 257:25 258:19,25
standalone (2) 226:1 stream (1) 269:1 69:4 100:2 167:21 surprising (1) 230:3 250:17 41:21 51:18 57:13 259:6,21 261:14
226:9 strength (4) 221:19,23 215:12 219:20 surprisingly (1) 45:16 telling (12) 29:16 60:9 105:1 113:22 262:4,15,20,21,22
standard (4) 20:3 222:16 226:15 250:21 276:21 survive (4) 170:3 39:25 51:5 67:10 114:14 155:16 263:13,14,17,19
69:25 226:21 stride (1) 181:12 suggesting (11) 23:8 221:16 223:16 107:14 154:13 160:2 175:7 182:8 264:9 265:7,9,14
238:14 Stroilov (17) 81:9 28:1,4 47:12 60:6 251:9 203:7 204:18 191:23 204:4 209:4 266:2,7,10 267:4
standards (1) 233:8 82:25 83:4 108:23 67:8 71:17 99:20 suspicious (1) 117:6 206:13 236:25 217:23 228:9 268:4,18 269:2,8,9
standing (2) 199:9,11 109:8 110:5,10 108:15 216:21 Svetlana (1) 61:2 253:16 255:21 255:18 263:10 269:9,15,22 270:4
Star (1) 21:18 171:16 184:22,23 225:11 Svir (3) 100:21,22 tells (3) 11:1,2 221:22 265:7 269:16,17 270:10,12,14,22
start (10) 95:16 188:21 189:2 suggestion (8) 74:18 249:8 ten (8) 47:9 53:23 270:15 275:23,24 276:21
184:13 185:11,13 201:10 204:3,7 99:10 163:17 swamp (6) 194:13,18 183:14,15 229:17 think (291) 2:2,19 277:3,3,6
192:25 207:3 205:14 246:17 209:13 218:5 227:2 195:3,8 200:1 254:17,21 265:17 4:24 5:19 7:8,9,9 thinking (7) 34:7
237:23 242:10 Stroilov’s (1) 171:13 244:10 250:24 232:9 tenure (1) 11:13 8:2,5 9:6 11:16,17 43:12 52:11,20
276:17,19 strong (6) 38:11 43:9 suggestions (6) Swir (1) 26:20 term (4) 228:2,4 14:6,25,25 15:1,3,9 107:1 254:21
started (19) 32:13 50:9 193:19,19 206:21 218:3,15 switch (1) 189:14 241:14,23 15:22 16:5 17:8,19 265:16
33:22 34:23 38:8 233:12 227:3 246:7 257:11 synopsis (1) 202:17 terminal (75) 60:14 18:20 19:7,9 20:23 thinks (2) 52:8 219:24
41:11 43:10,14 structure (1) 99:9 suit (3) 39:16,18 system (6) 43:23 63:14,19 64:5 70:7 20:24,25 22:12,14 third (21) 18:10 43:15
47:5 49:16 50:4,16 struggle (4) 24:15 147:22 155:15 189:5 70:8,9,20,25 73:1 28:19 34:19 36:20 44:10,11,11,15,19
84:15 104:3 107:1 42:4 167:18 246:18 sum (2) 62:11 77:22 195:13 197:20 73:16 76:19 77:1,7 36:21 37:6,17 39:4 44:23,25 45:10,17
118:10 167:8 223:3 struggling (1) 253:21 summarised (1) 76:9 275:21 77:23 78:4,11,24 39:8,11 40:17 41:1 45:20 46:13 72:22
237:22 249:18 Studies (1) 161:20 summer (2) 246:10 79:12,20 80:3,3,16 41:22 42:4,12 43:8 101:7,10 104:9
starting (1) 116:16 study (2) 185:9 254:19 T 83:14 84:19 87:19 43:11,17 44:22 155:25 157:9
starts (1) 48:7 228:17 Sunderland (3) 189:20 tab (5) 9:22 14:9,10 97:14,16,18,20 47:14,24 50:2,18 236:10 263:25
state (12) 26:7 29:22 studying (2) 54:16 189:24 191:3 98:11 99:1,25 50:21,25 51:2 53:4 third-party (1) 256:25
14:14 220:19
30:9 58:3 64:24 247:10 supervise (1) 249:5 100:1,6 189:25 58:12,13,18 59:1,5 third-to-last (1)
table (1) 98:18
83:10,15 229:7 stuff (2) 49:21 269:8 supervision (5) 190:19,20,24 59:6 60:18 61:19 181:19
take (30) 2:2 7:7 8:15
230:14 232:6 233:9 stupid (3) 41:16,21 233:10 237:2,6,14 191:15 192:12 62:19,25 66:12,15 thought (20) 13:12

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

293

February 24, 2016 Day 16 — Redacted

71:9 73:6 76:11 262:21,21 translations (4)
86:16 92:16 94:4 today’s (1) 192:3 238:25 239:15,17
100:10 119:20,23 told (44) 6:23 9:12 240:11
120:23 225:14 10:24 18:23 24:13 transpires (1) 13:5
229:6 240:20 250:1 28:7 40:17,18 transport (4) 54:8
252:25 254:16,21 41:20 45:8,10 50:7 180:23 199:13
256:11 266:5 68:12,14 109:9 245:7
thousand (1) 55:9 149:9 156:19 157:4 transportation (1)
threads (1) 175:21 157:6 159:11 200:10
threat (1) 252:9 160:17 181:7,20 transported (1)
three (35) 34:3 38:2 186:7 201:1 207:10 198:23
40:6 41:15 62:19 207:15,22 208:21 transporting (1)
86:1 88:16 90:13 211:1 221:15 198:24
90:17 91:5 96:25 230:21 234:25 travel (2) 32:21 56:22
97:4 98:11 106:5 235:11,23 236:24 travelling (1) 255:13
108:24 110:16,17 252:13,15 253:2,10 tread (1) 158:11
110:25 158:17 256:1 262:14 267:4 trial (5) 115:1 166:18
168:9 191:23 276:22 166:18 170:20
192:13 204:8 tomorrow (4) 184:21 263:16
210:23 226:12 275:13,18 276:6 trials (1) 250:4
234:15,16,18 237:8 tongue (1) 255:7 triangle (4) 6:8 7:14
237:10 241:11 top (22) 7:21 14:8,14 7:16 9:20
254:22 259:17,25 14:23 15:8 16:25 tried (7) 109:20
263:5 17:7 21:4 34:15 170:18 178:14
three-party (2) 264:23 87:17 151:20 226:23 229:1
265:9 181:10 196:14,20 248:12 249:13
thrown (1) 40:9 197:12 198:18 trips (1) 55:15
thunder (1) 276:24 199:19,21 220:10 trouble (4) 115:11,13
ticket (1) 61:11 256:19,19 259:14 115:21 116:5
tidy (1) 158:10 total (3) 94:23 97:4 troubles (2) 84:16
tighter (1) 270:15 254:7 254:8
timber (1) 249:4 totalling (1) 164:24 true (27) 23:23 31:14
time (109) 2:8 10:24 toxic (1) 244:9 31:15,16 32:10
14:2,5 21:21 24:12 Traber (5) 66:20 67:2 34:13 50:12,19
27:20 29:12 32:15 67:3 252:25 253:2 70:6 103:3 117:2
36:23 37:14 41:2 trace (2) 59:11 238:13 117:19 149:16
42:2,12 43:9 46:5 track (1) 184:7 151:2 154:11
47:19 49:2 50:23 trade (1) 91:25 156:10,21 161:22
52:17,19 53:14 trademarking (1) 162:13 163:1 166:7
55:9,24 60:3 62:19 93:14 180:1,2 207:13
64:3,25 66:2,3 trademarks (3) 92:13 209:15 237:16
76:11,12 78:2 92:24 93:12 251:16
79:23 80:12 93:5 trading (1) 100:12 truncated (1) 183:3
99:8,25 103:10 trail (1) 235:6 truth (2) 154:14
106:11 108:22,22 trailers (2) 190:13,16 206:14
109:17 113:22 train (1) 166:13 truthful (1) 56:15
116:4,18,18 117:21 tram (1) 198:7 try (12) 53:14 69:22
118:10,14,15 transaction (9) 72:22 90:15 94:5 98:5
148:24 149:5,7 98:23 100:8 106:15 121:10 167:5
155:15,16 166:21 107:1,22 108:3 178:17 206:7 229:3
167:13 175:3,3 152:6 243:20 229:3 234:11
176:2 177:6,7,10 transactions (7) 96:17 trying (15) 7:3 27:18
186:2 190:25 198:6 164:9 165:4 238:16 31:25 34:8 49:13
200:7 201:8 202:1 238:16 243:24 51:24 53:19 114:17
203:4 210:15 244:4 161:1 184:7 228:3
213:13 217:17,20 transcript (14) 46:18 228:8 235:15
222:1,7,8 223:18 48:1 87:7 97:25 256:12 263:5
225:6 226:7 232:16 102:2 180:11 208:2 Tsvelodubovo (4)
235:10 241:17 208:3 211:2 217:16 84:25 85:24 86:15
242:9,12 243:4,8 217:22 221:1 87:3
244:16 245:3,5,11 263:20 269:19 Turkey (1) 223:21
245:15,23 246:10 transcripts (4) 205:20 turn (3) 44:12 88:24
248:11 252:14 263:15 269:6 170:18
253:7,8,16,24 270:10 turned (1) 44:16
254:2,6,12 255:12 transfer (9) 101:3 turnover (6) 218:7,13
255:12,14,15 102:20 104:1,17 218:21 219:3,11
261:11 107:18,21,24 108:9 220:12
times (7) 70:25 242:20 turns (1) 5:10
118:12 148:7 159:7 transferred (4) 92:18 two (58) 4:8,13 6:6
257:24 264:14 109:12 164:25 18:4,25 22:4,5
265:16 261:10 26:15 32:16,19,25
timing (4) 38:3 52:20 transferring (1) 98:25 33:21 35:10 38:2
53:19 93:21 transfers (1) 114:24 41:12,14 45:15
tired (1) 277:4 transhipment (1) 58:23 67:12 73:4
today (17) 8:20 13:17 77:10 80:10 88:16 90:17
13:19 23:2 38:18 translation (7) 60:20 91:20 103:10 109:6
52:3,4 148:7 165:7 162:10,13,15 109:12 112:9
165:17 191:21,22 172:15 208:11 113:24 115:3
192:1 239:23 247:3 240:3 116:24 117:23,24

150:7 158:9 161:5 173:21 186:12 188:24 192:19,21 193:17 195:6 196:8 204:8 210:23 221:25 233:5,23 242:12 246:23 250:12 254:22 259:1,13,17 260:25 269:17

type (6) 172:25 173:3 173:7,8 235:9 265:22

typed (4) 17:3 19:25 20:2,2

types (2) 221:25 228:6

tyring (1) 74:1

U

UK (3) 223:21 232:3 252:2
ultimately (4) 5:12 206:17 266:12 269:18

unable (3) 213:4 256:3 275:14

unacceptable (1)

230:6

uncertain (1) 152:12 unclear (2) 247:11

262:17

underlying (4) 5:15,20 5:23 13:6

understand (65) 3:11 3:18 7:24 12:14,24 14:18,20 16:6 17:15 19:5 20:15 20:18 21:6,9,23 22:3 35:24 36:4,8 37:23 67:11,11,16 74:2 75:25,25 76:18 100:22 106:24 121:1,11 152:5 155:2 160:1 160:17 168:17 177:22 183:23 184:14 199:12 201:13 202:12 203:5 204:17,20 206:9 207:14 213:3 216:25 228:9 232:20 233:13 238:12 239:21 240:23 253:21 255:24 256:2 261:12 268:24 269:6 270:11,16 276:14,25

understandable (1)

117:10 understanding (28)

32:13 34:24 36:11 36:17 38:1 56:24 71:16 76:13 118:6 159:11,14 160:7 202:10 208:2 221:18 222:11 226:6 240:2 241:12 242:6 243:13 254:7 254:13,20 264:5,24 265:1 266:8

understood (25)

43:14 71:10 81:24 82:23 83:11 99:24 114:21 154:24 167:18 178:10 192:18 205:24

209:22 217:22 218:2 247:20 248:17 249:17 250:3 254:9,23 257:12,14 263:22 264:25
undertaken (2) 5:18 231:23

undertook (1) 99:20 undisclosed (3) 201:4

201:19,20 uneasily (1) 29:21 unemployed (1) 44:21 unemployment (1)

27:23 unfortunately (4)

184:16 209:8 245:17,19

Union (2) 168:5 244:18

unique (1) 93:15 United (2) 158:21

189:24

units (2) 79:16,17 unlawfully (1) 156:4 unorthodox (1)

233:15 unsatisfactory (1)

175:22 unsettling (1) 6:4 unsurprising (2) 62:13

62:21 untrue (1) 48:23 unusual (5) 44:17

113:16 205:13 221:22 229:25 uploaded (2) 184:6

185:4 upshot (1) 78:21

upwards (3) 69:20,21 71:14

US$166 (1) 70:13 use (6) 2:12 69:21

83:17 179:14 195:2 198:6

usual (1) 181:13 usually (1) 170:6

V

V-Bank (34) 26:8,13 26:21 27:4,21 62:16 73:5 76:15 90:15 93:8,8 94:21 97:17 98:23 99:6,6 99:9,12 100:2,2 150:20,24 151:5,9 151:14,22,24 152:21 187:8 223:10 241:21 249:13,23 251:3

V-Bank’s (1) 26:9 valid (2) 110:16

111:24

valuable (2) 108:9 109:23

valuation (26) 64:2

69:4,6,22,24 70:8 70:12,14,17 73:1,4 75:14,21 76:13 87:13 103:9 195:17 195:23 198:12 225:21 229:22,24 230:1,20 235:9 236:19

valuations (11) 68:22 68:23 69:1,8 70:19 71:14 74:10,16,25 76:3,12

value (20) 63:23,24 64:1 70:13 71:1,18 72:11,16,25 73:20 73:23 80:14 81:4 88:3 103:3,7 117:23 165:10 189:25 244:9

valued (4) 69:20 70:25 76:11 103:12

valuer (1) 74:9 values (2) 74:13 87:25

Valya (1) 172:16 variant (1) 115:10 various (14) 11:18

60:9 65:23 92:19 99:21 114:14 158:8 162:4 164:9 175:15 175:21 182:8 204:25 235:13

Vasiliev (35) 102:12 102:18 105:3 107:6 107:16 108:24 111:12,15 112:2,8 116:25 149:2,6,20 150:4 207:12,16 208:18,21,24 209:7 209:12,13,17,22 210:1,13,23 212:24 215:1,4,11,22 216:14 217:5

Vasiliev’s (1) 216:4 VD (1) 215:1 VEB’s (1) 82:18 venture (2) 68:6

250:10 ventures (1) 56:1

verification (1) 105:17 versa (1) 44:12

verse (1) 250:19 version (24) 27:2

28:15 59:17 101:24 105:5,6 181:14,17 191:24 192:4 202:25 203:1 208:11,16 210:6 211:20 212:13 214:10 216:7 218:18 219:5 220:17 239:15 257:10

versions (7) 3:4 4:8,13 5:10,11 11:18 207:4

vessel (2) 194:8,21 vetted (1) 258:3 vice (2) 44:12 245:3 victim (3) 29:22

170:15,16

video (28) 51:19 53:2 53:10,10,16 76:24 77:2 78:25 80:1 84:5 147:17,18 182:15,16 185:2,7 185:14 187:21 189:15 191:12,14 193:3,23 194:23 195:14 203:6 260:4 268:11

videos (16) 51:12 52:10,22,24 53:9 53:14,20 147:10 182:18 184:6,18 201:5 202:5 228:24 229:11 230:18

view (8) 42:10 79:6 117:11 172:9,24 226:21 227:7 241:24

views (1) 120:24

vigorously (2) 4:6

268:21 vigour (1) 4:7

village (4) 85:13,24 86:15 87:3

visit (1) 56:2 visiting (2) 255:17

270:9 visitors (1) 258:3

visits (2) 57:25 106:10

Vitaly (3) 22:24 180:22 278:4

Vladimir (1) 156:8

Vneshsconombank (1)

78:18

voice (2) 188:13 193:4

Volodina (4) 81:24 82:24 202:7 223:1

volume (3) 194:9 249:21 250:8

Vozrozhdenie (3)

26:13 97:17 223:10

VTB (1) 84:14

Vyborg (67) 60:14

67:13 78:5 93:18 94:14,19 95:2,5,6,9 96:7,9,12,12 97:4 97:18 98:12,24,24 99:1,7,23 100:3,4,4 100:9,24 101:3,19 102:21 103:10 104:2 106:7,10,12 106:18 107:7,25 112:4 116:18 117:18 149:17,22 150:21,23,25 151:5 151:10,25 152:22 165:8 191:4,6,10 210:15 213:12,13 214:6 215:7,12 216:1 247:15 249:9 249:9 250:5,11,23

Vyborgsky (2) 85:12

87:2

W

waged (1) 178:21 wages (1) 117:7 wait (4) 150:14 213:24 216:2

253:18 waiting (1) 259:24

walking (2) 186:18,21 want (91) 9:12,20,20 9:22 10:4 11:20

12:3,24 13:23 14:2 15:21,23 17:15 19:11 24:15,15 29:7,25 32:11 34:14 39:20 42:13 42:15 43:6 47:2 48:3 75:24 86:22 87:10 88:6 98:5 104:22 114:9,21 118:2,4 119:4,17 119:18 150:7 154:9 154:24 159:13 160:15 162:5,24 163:5,24 166:15 167:9 183:11 184:15 188:8 192:8 194:17 195:16 196:5 198:10 199:7 200:17,24 205:15 206:1,4,20 207:14 207:22 208:2 211:16 213:25 214:1 217:17,19

Opus 2 International transcripts@opus2.com
Official Court Reporters +44 (0)20 3008 5900

294

February 24, 2016 Day 16 — Redacted

218:4,22 219:9,17 180:9 254:16 270:5
228:1 242:6 243:21 weekend (1) 192:16 won (2) 45:15 192:13
244:11 246:14,25 weekly (1) 252:16 wonder (7) 2:17 22:19
247:2 253:20 263:2 weeks (2) 263:5,5 51:13 89:2 104:14
267:8,9,12,13 welcome (1) 152:14 148:4 175:23
276:12 went (8) 38:10 61:2 wondered (2) 250:25
wanted (41) 12:19,25 62:9 72:4,21 106:9 262:2
26:21 33:25 40:3 106:16 107:14 wondering (3) 86:5
42:20 71:22,23 weren’t (9) 5:11 63:20 119:2 183:8
75:13 77:2 90:15 80:11 90:18 105:3 wonders (1) 267:24
93:2,4 99:6,9 106:6 109:24 155:21 wood (1) 24:24
106:20 107:3 186:12 264:10 woodchip (1) 247:16
171:16 195:4 west (1) 27:12 word (1) 84:2
200:11 205:16,24 Western (51) 60:13 words (6) 57:18
210:10 211:19 63:14,19 64:5 70:7 159:16 167:3 171:4
216:18 217:13 70:8,9,19,25 73:1 178:25 196:24
219:13 220:2,5,15 73:16 78:4 87:19 wore (1) 39:13
221:5,7,9 228:21 97:13,16,18,20 work (10) 30:24 53:19
238:9 244:6 245:18 98:10 99:1,25 97:19 232:16
253:23 256:19 100:1,5 191:15 235:15 253:2 265:7
263:22 192:12 194:2,11,25 275:17 276:4,13
wants (3) 13:10 34:25 196:3 197:11 198:5 work’s (1) 187:19
146:24 198:19 199:20,25 worked (1) 243:13
warm (1) 94:5 217:24 218:6,6,12 working (14) 26:22
warned (2) 115:17 218:20 220:12,19 46:6 49:14 64:25
260:11 220:20 229:2,15 68:4 69:6 208:18
warning (2) 154:21 230:24 231:22 229:16,17 245:10
228:16 234:14,17 247:15 260:2 275:19 276:2
warnings (1) 114:24 248:16,21 250:7 276:2
warrant (1) 34:15 whilst (1) 160:5 works (8) 69:14
Washington (1) 159:8 wholly (1) 206:12 100:25 171:25
wasn’t (10) 24:10 widely (6) 67:2 90:10 189:17 230:23
33:5 40:11 65:10 158:23 174:21 232:3 248:22
65:16 66:10 67:15 217:11 243:25 265:15
70:9 148:21 234:9 wife (17) 22:21 61:8 world (3) 88:18 173:2
watch (3) 182:15,16 61:12,23 117:24 174:19
183:8 118:6 119:4 120:16 worldwide (1) 223:22
way (43) 3:7 13:7 21:6 120:25 154:5 165:1 worried (3) 201:12
40:2 41:6 46:6 213:1 238:7 243:16 231:19 233:20
49:19,25 53:4 253:4,12 270:5 worry (2) 217:19
62:17,22 63:3 wife’s (2) 121:9 220:7
66:18 74:18 75:10 253:15 worsened (1) 151:17
82:22 84:20 93:22 win (3) 43:13,14 worser (1) 3:2
99:4 113:6 114:5 45:12 worth (2) 64:11
151:21 157:9,22 winning (7) 42:2,12 165:14
174:15 181:13 42:16 43:3,4,7 46:4 wouldn’t (8) 62:21
183:23 192:7 wise (1) 93:21 72:3,18 80:15
195:16 201:21 wish (8) 19:13 36:6 103:3,7 108:9
207:2 211:13 42:23 43:1 52:9 153:17
213:21 214:14 116:5 201:16 write (3) 29:14 60:7
234:7 249:17 275:22 235:12
252:18 261:21 wishes (2) 150:9 writing (16) 27:15
262:25 264:11 270:2 28:25 29:12,15,17
269:1 270:14 withdraw (3) 111:1 29:18 37:17,22
275:21 222:13 223:2 38:15 59:23 60:3
ways (1) 160:1 withdrawal (1) 243:11 172:4 203:19,20
we’ll (1) 171:7 withdrawn (1) 223:4 204:4 259:21
we’ve (19) 6:23 9:12 Withers (10) 103:21 writings (1) 208:15
10:23 11:9 17:19 104:1,18 105:1 written (23) 6:15
48:19 55:13 56:6 109:8 116:14 184:8 15:11,15 17:21
56:21 78:4 102:8 184:9,19,25 19:3,20,24 28:18
108:23 117:20 witness (48) 3:9 5:9 41:16,17 65:17
190:4 214:18 12:25 13:9 18:1,15 87:1 103:2 108:10
222:18 225:23 24:14 31:9 37:3 171:11 179:2
236:22 255:11 44:23 46:17 47:25 197:12 203:13
weak (2) 221:16 243:8 52:6 58:13,17,21 209:20 212:16
wealthy (2) 64:12 63:7 70:17 83:3 222:12 240:12,23
193:21 84:3 85:6,11 87:12 wrong (18) 28:2 36:15
wear (1) 39:16 148:5 154:1,21,24 57:14 75:17 85:16
web (2) 92:15 175:22 155:10 157:21,25 85:18,21 86:17
website (15) 59:11,13 158:2 160:19 100:11 159:13
65:6 67:22 82:13 162:21 172:19,23 162:14,14 177:10
82:16,18 85:5,8 173:3,8 182:22 177:13 207:9
87:1,5,13,22 169:6 203:17,18 215:15 227:16 249:3 264:6
174:18 220:16,22 235:25 wrongly (2) 176:19
Wednesday (3) 1:1 236:24 244:1 269:18
157:7,14 245:18 252:10 wrote (1) 174:12
week (8) 73:9 118:1 witnesses (5) 18:24 WT (1) 193:25
163:6,25 164:9,15 239:5 269:5 270:2

X

Y

Ya (1) 215:1

Yahoo (2) 220:9,11

Yaroslav (4) 149:2,6

149:20 150:4

Yashkina (1) 21:21 year (19) 11:8 41:9,10

41:14 42:4 70:1 78:14 79:24 151:18 151:18 156:15 164:3 187:7 188:10 190:25 230:22,24 238:5 247:23

years (21) 3:25 25:19 32:16,19,25 62:19 69:7 81:1 88:12 92:8 110:16,17,25 117:23 158:18 220:10 228:17 229:17 232:11 250:12 263:11

years’ (2) 81:1 242:12 yellow (1) 19:4 yesterday (34) 1:8 2:4

2:19,25 3:9 4:10 6:6 8:25 9:24 10:6 12:21 25:25 28:7 28:19 39:5,8,11 55:23 66:19 94:1,3 94:5 96:10 100:16 103:11 192:13 202:18 220:9 242:5 255:3 256:17 257:6 262:20 267:5

yielded (1) 227:20 York (1) 175:1

Yu (1) 215:1

Z

zone (1) 197:2

0

0.1 (1) 112:3

1

1 (14) 23:19 77:17,21 78:1 89:1,10 101:12 102:20 218:7 219:6,20 221:6 266:14 278:3

1.00 (1) 42:7

1.01 (1) 147:25

1.30 (1) 42:7

1.5 (1) 176:15

1.7 (1) 94:23

10 (9) 33:16 93:23 147:11 204:24 205:3 220:11,19 224:10 247:19

10,000 (3) 79:16 102:25 103:3

10.21 (1) 53:24

10.31 (1) 54:1

100 (4) 55:8 77:14 103:13 209:24

100,000 (2) 86:25 100:25

11 (5) 32:18 38:1 162:6,21 263:21

11.31 (1) 94:7

11.42 (1) 94:9

12 (4) 26:25 87:20,23 234:10

120,000 (1) 79:17

121 (1) 278:6

129 (1) 263:24

13 (2) 18:17 234:11
13.1 (2) 96:1 99:15
134(c) (2) 91:11,15
14 (1) 10:12
14.7 (1) 87:18
146 (1) 278:7

15 (9) 53:2 101:18 147:11,15 190:2 205:3 224:10 247:19 256:16
150 (1) 55:8
153 (2) 81:17,20
159(1) (2) 46:24 47:1

16 (3) 7:19 9:22 155:11
160 (2) 156:25 180:12
168 (2) 47:25 48:10
16th (1) 155:10
17 (1) 102:5
172 (2) 30:4,6
173 (5) 30:4,11,21,21
48:14 18 (6) 14:9,13,14

105:12,18 110:24

184 (1) 278:8

19 (5) 39:1,3,4 163:13 163:14

199 (1) 95:12

1999 (1) 220:10

2

2 (6) 25:7 164:17 218:12 219:6,20 221:6

2,500 (1) 118:13

2.00 (3) 147:14,24 148:2

2.45 (1) 147:14

2.5 (1) 86:19

2.55 (1) 183:25

20 (11) 14:10 17:19 17:23 18:10 63:8 147:10,15 192:24 223:11 247:19 253:17

20,000 (1) 118:8

200 (1) 32:20

2006 (3) 47:5 49:5 164:3

2007 (17) 25:20 50:2 54:7 70:10,12 73:1 76:3 97:20,22 98:13,20 185:10 186:8 188:7 193:25 194:1,2

2008 (36) 25:6,20 26:12,25 27:9,9 28:6 50:17,20 54:22 56:10 57:19 79:20,21 164:20 174:13 186:8 187:5 188:9 189:12 195:11 196:4,6 197:2,18 198:16 199:6,17 222:10 230:6 236:6 242:4 242:23 244:8,13 256:13

2009 (43) 24:11 25:6 25:20 26:12 28:13 29:10,22 34:20 38:6,9 48:16 50:20 54:23,23 55:3 56:18 58:5 59:21 60:2,7 63:3 65:20 65:23 66:9,15 68:11 148:9 149:13

154:6 174:13 177:2 177:3,14,23 187:6 187:12,14 200:5 222:12 223:1 246:10,10 255:9
2010 (11) 24:21 26:2 26:5 61:18 93:6 105:24 106:9,11 108:21 187:4,14 2011 (12) 33:16 37:12 38:1 93:6 105:12 105:18 107:25 108:4,21 151:14

161:15 187:4 2012 (15) 11:4 94:14

95:2 98:19 101:18 109:1 111:9 116:22 117:18 118:7,9 151:13,23 195:24 198:12

2013 (4) 102:5,20 148:23 149:8

2013/2014 (1) 236:6 2014 (9) 110:24

111:20 149:10 150:3 172:22 179:1 231:1,21 232:16

2014/2015 (1) 231:14

2015 (5) 87:23 148:12 198:12 231:2,21

2016 (6) 1:1 89:22 173:13,22 174:6 277:10

205 (1) 278:9

208 (1) 64:16

21 (3) 148:12 173:22 174:6

213 (3) 87:11,15,16

214 (1) 32:12

215 (2) 33:2,9

218 (1) 32:12

22 (4) 37:12 256:21 278:4,5

225 (1) 164:14

229 (2) 83:19,23

23 (3) 11:3,5 161:15

24 (2) 1:1 23:14

240(1) (2) 154:4,10 247 (1) 278:10

25 (4) 23:14,16 86:24 164:20

26 (3) 101:14,15 277:10

27 (2) 60:2 177:3

270 (1) 278:11

275 (3) 95:12 278:12 278:13

28 (2) 17:14 23:25

29 (3) 14:11 17:8 173:13

3

3 (3) 25:14,19 100:22
3-minute (1) 202:17
3.06 (1) 184:2
3.45 (1) 276:24
3.55 (1) 205:8
30 (6) 17:14 94:14
95:2 98:19 197:2
257:18
31 (1) 111:9
32 (2) 195:11 196:2
33 (15) 84:24 85:11
86:6,12,14 196:3
218:20 219:4,11,19
219:25 220:4,13,14
220:23
34 (3) 86:12 196:9,11

35 (4) 97:11 195:11 196:2,16
350 (3) 103:14,14 165:16

3so (1) 220:15

4

4 (3) 161:7,13 242:19

4.12 (1) 205:10

40 (3) 70:10 71:2 97:11

400 (1) 103:13

424 (1) 95:12

438 (3) 14:10,15 15:3

45 (3) 146:22 147:5,6

49 (2) 81:1,1

5

5 (4) 70:24 89:22 154:6 226:11
50 (6) 43:24 106:25 190:1,2,3 209:24

50,000 (1) 61:16

500 (2) 100:15 103:12
54 (1) 37:7
55 (3) 179:12,18
227:21
56 (1) 37:7

6

6 (1) 98:20

6.03 (1) 277:8

60 (1) 237:23

64 (1) 46:18

65 (1) 47:4

68 (1) 46:18

69 (2) 31:10 179:22

7

7 (2) 111:20 162:19

8

8 (5) 28:13 29:10 156:1 157:5,9
8.00 (7) 192:11,16,19 192:22,24 275:24 275:24

80 (5) 86:21,21 164:19,24 243:9

800 (1) 237:24

840 (1) 164:12

88 (1) 220:23

9
9.00 (1) 1:2
9.45 (5) 276:19,22,23
277:1,9
90 (1) 86:21
900 (4) 97:2,9,12,14
94 (2) 80:7,20
99 (3) 45:22 76:23
77:6
99.9 (2) 102:21,22

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