News emerged Thursday that Dmitri Tchernenko, lead counsel for Russian litigation firm A1, has announced his departure from the company. Tchernenko expressed in a social media post that he is eager to embark on “a new chapter in (his) career”.
A1, established by a trio of Russian billionaires with ties to the Kremlin, is a subsidiary of the Russian financial titan, Alfa group. The firm has played a role in funding lawsuits in both the US and the UK on behalf of Russian banks, notwithstanding sanctions imposed on its directors by Western governments.
Tchernenko’s announcement came on LinkedIn, hours following a Bloomberg Law investigation that detailed his and A1’s involvement in said litigation funding. He expressed his gratitude for the opportunities and trust A1 rendered him during his five-year tenure.
In discussions with Bloomberg Law last week, Tchernenko hinted that he was due to depart A1 imminently. He shared plans to devote his time to a spectrum of cases currently being litigated in London and the United States.
Reporting by Bloomberg Law reveals that before leaving, Tchernenko fronted unsuccessful attempts by A1 and US law firms to return roughly $6.1 million to Moscow on March 15, 2022. This occurred hours following sanctions placed on the three lead directors of A1 by the UK. The funds had previously been reclaimed in a New York bankruptcy case on behalf of a sanctioned Russian bank. The institution, along with a government agency, were seeking to recover close to $2 billion stolen by its former proprietors.