Black Eagle Litigation Fund

Overview

Black Eagle Litigation Fund is a distressed assets and special situations fund specializing in ex-USSR based legally distressed assets and in offshore asset recovery. The main entity of the fund is based in the Cayman Islands.

Contents

• Overview
• Equity Partners
• Management
• Early Activities
• Cyprus Bank Crisis
• Ukrainian Bank Debt
• Criticism
• References

Equity Partners

Equity partners of the fund were never officially disclosed. It was reported that Valery Tutykhin, a Swiss-based Russian entrepreneur is one of the partners, also personally managing some of the projects of the fund.

Management

Black Eagle Litigation Fund is managed by John Tiner & Partners SA, a Geneva-based financial company, although other affiliates and units of the fund may be independently managed.

Early Activities

In early 2000s the fund invested into recovery rights and received recovery mandates for Russian and Ukrainan assets lost by original owners through illegal "raidering" schemes, often forcing the new owners to settle by taking investigation overseas and arresting their offshore assets.

Cyprus Bank Crisis

The fund is reported to have been speculating in rights to frozen deposits in Cyprus banks in 2013.

Ukrainian Bank Debt

Following the collapse of a large number of commercial banks in Ukraine during 2014 - 2015 Black Eagle Litigation Fund started purchasing selected distressed debt of such banks at the same time offering financial remuneration for information on offshore assets of major shareholders of failed banks.

Criticism

Russian and Ukrainian media is referring to Black Eagle Litigation Fund as one of the so-called vulture funds. and criticizes its aggressive tactics.