Black Eagle Litigation Fund


The Black Eagle Litigation Fund is a distressed assets and special situations private 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.

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.

Reported Activities

Early Activities

In early 2000s the fund invested into recovery rights and received recovery mandates for Russian and Ukrainian 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">2012–13 Cypriot financial crisis">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.

Transaero Litigation

It was reported that Kara Burkut Recovery Ltd., a Cyprus entity which in 2018 purchased a 1 billion Russian_ruble defaulted debt of the Russian airline Transaero, and is engaged in asset tracing litigation in the US against the principals of Transaero, is associated with Black Eagle Litigation Fund. This was confirmed by the media center of the Black Eagle Litigation Fund group.