Barclays Bank PLC v PJSC Sovcombank & Anor
The Russian proceedings were in breach of the exclusive English jurisdiction clause; there were no strong reasons against granting anti-suit or anti-enforcement injunctions; UK sanctions law prevented Barclays from making payment, negating liability under the Facility; declaratory relief was appropriate to clarify Barclays' position.
- Parties
- Claimant/applicant: Barclays Bank Plc; Defendant/respondent: PJSC Sovcombank; Defendant/respondent: LLC Sodeistvie Mezhdunarodnym Raschetam (AIS)
- Jurisdiction
- England and Wales
- Judgment Date
- 06 May 2024
- Procedural Posture
- Commercial Court Application / Final Judgment on Application for Anti Suit Injunction, Anti Enforcement Injunction, and Declaratory Relief
- Outcome
- Application granted
- Legal Topics
- Anti Suit Injunction, Anti Enforcement Injunction, Exclusive Jurisdiction Clause, Declaratory Relief, Sanctions Enforcement, Assignment of Rights
Case Brief
Summary, issues, holding and outcome
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Parties
Barclays Bank Plc
Claimant/applicant
PJSC Sovcombank
Defendant/respondent
LLC Sodeistvie Mezhdunarodnym Raschetam (AIS)
Defendant/respondent
Procedural Posture
Commercial Court Application / Final Judgment on Application for Anti Suit Injunction, Anti Enforcement Injunction, and Declaratory Relief
Legal Issues
- 1 Whether the Russian proceedings breach the exclusive English jurisdiction clause in the Facility agreement
- 2 Whether an anti-suit injunction and anti-enforcement injunction should be granted
- 3 Whether declaratory relief should be granted regarding Barclays' liability under the Facility in light of UK sanctions
Ratio Decidendi
The Russian proceedings were in breach of the exclusive English jurisdiction clause; there were no strong reasons against granting anti-suit or anti-enforcement injunctions; UK sanctions law prevented Barclays from making payment, negating liability under the Facility; declaratory relief was appropriate to clarify Barclays' position.
Court Disposition
Application granted
Orders
- Final anti-suit injunction restraining Russian proceedings in breach of the exclusive jurisdiction clause
- Final anti-enforcement injunction restraining enforcement of any Russian judgment relating to the Facility
Full Case Text
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