A businessman from southern Germany fought for 20 years to reclaim millions of euros owed to him by the Russian state.
Franz Sedelmayer now specializes in multi-asset recovery and his expertise is hard won.
In the early 1990s, Mr. Sedelmayer set up a joint venture together with the state authorities importing goods. Business boomed and he was rewarded with a property by the city of St. Petersburg, formerly Leningrad. The property was confiscated and it took Mr. Sedelmayer 140 court visits and some creative detective work to recoup his losses.
He had been given a villa in St. Petersburg and he had spent a million euros renovating it. In 1994, President Boris Yeltsin confiscated it by presidential decree. An agreement between Russia and Germany in place at the time promised to compensate German businesses.
But Russia ignored the law and Mr. Sedelmayer brought his claim to an international arbitration court in Sweden which found he was owed $2.35 million (€1.7 million) in 1998.