30th April 2015

Teleconference Territory of the Virgin Islands 30th April 2015 APPLICATION AND APPEAL Case Name:

[1]Alexander Katunin

[2]Sergey Taruta v [1] JSC VTB Bank [BVIHCMAP202015/0004] [BVIHCMAP2015/0007] Before: The Hon. Dame Janice M. Pereira, DBE, Chief Justice Appearances: Appellant: Mr. Stephen Rubin, QC with him Mr. Niki Olympitis and Ms. Sara-Jane Knock of Withers Respondent: Mr. Mark Forte with him Mr. Jerry D. Samuel of Conyers Dill & Pearman Issue: Application for security for costs Result / Order: [Oral delivery] The appellant, Alexander Katunin, do on or before Monday, 11th May 2015 give security in the sum of US$40,000.00 for all the costs in case any shall be awarded to be paid the appellant to the respondent, JSC VTB Bank, by payment into the client account of Withers BVI, Solicitors for the Appellant, with notice of payment to be given by Withers BVI to the Solicitors of the Respondent on the same day. In default of making such payment into the client’s account of Withers BVI by the time stated above, the Consolidated Appeals shall stand dismissed without further order with costs to be paid by the appellant to the respondent, such costs to be assessed if not agreed. The costs of this application are to be costs in the appeal. Reason: The Court was alive to rule 62.17(3) of the Civil Procedure Rules 2000 and considered that in all of the circumstances it was just to order security for costs in the sum of US$40,000.00.