The Potanin Foundation, a UK charity associated with Russia's Vladimir Potanin Foundation, has initiated a lawsuit against Barclays Bank in London. The legal action is being pursued through the advisory firm Forvis Mazars. The foundation, established in 2006 by former Russian Deputy Prime Minister Vladimir Potanin, focuses on education, culture, and philanthropy. The intervention by the UK Charity Commission in 2023 and the subsequent removal of Potanin, who has been sanctioned by the UK, mark a significant shift in the foundation's management.

The claim was filed on Wednesday in the London Circuit Commercial Court, a specialist High Court handling business disputes of moderate complexity, generally under £1 million. The specific nature of the dispute that has led to this legal action remains unclear.

The UK Charity Commission intervened in the foundation in 2023. As a result, Potanin was removed. The Potanin Foundation is currently under the management of Guy Hollander, a director at Forvis Mazars, who serves as the interim manager. Hollander oversees the organization's assets and assesses its future viability. The foundation's holdings include significant investment assets, valued at over £60 million by the end of 2023, according to Charity Commission records.

The foundation has instructed the law firm Keidan Harrison to file the legal action against Barclays Bank, while Barclays has instructed Addleshaw Goddard for its defense. Forvis Mazars confirmed Hollander's involvement in the proceedings in his capacity as interim manager but declined to comment further. The Charity Commission also maintains an ongoing inquiry into the foundation.

In 2023, numerous publications reported that Barclays began providing banking services to the Potanin Foundation. This occurred after JP Morgan ended its relationship with the foundation in 2022. A spokesperson for Forvis Mazars, when approached for comment, confirmed Guy Hollander's involvement as the interim manager appointed by the Charity Commission. The spokesperson added that they were unable to comment further at this time. Barclays Bank declined to comment on the matter.

The UK Charity Commission is also conducting an inquiry into the foundation, which includes assessing its viability and safeguarding its assets. The investigation is ongoing, and no further details can be provided at this time.