VTB Bank Lawyers Can’t Get Paid Because of Russia Sanctions (2)

Sanctioned VTB Bank PJSC is having trouble getting new legal representation because lawyers are struggling to find financial institutions willing to accept payments from Russia.

A federal magistrate judge on Thursday agreed to pause a lawsuit against the bank until June 23, about a week less than VTB’s current counsel at Latham & Watkins had requested. The move gives the bank’s new lawyers about a week to work out the kinks of getting paid.

VTB said this month it agreed to hire Brafman & Associates lawyers, including partner Marc Agnifilo, who has represented defendants such as Harvey Weinstein and ex-Goldman ...