JSC BTA Bank v Ablyazov & Ors [2009] EWHC 2840 (Comm) (12 November 2009)

JSC BTA Bank v Ablyazov & Ors [2009] EWHC 2840 (Comm) (12 November 2009)

The Bank established a good arguable case and a real risk of dissipation of assets by the Defendants. There was no material non-disclosure sufficient to justify discharge of the Freezing Order. The context of the dispute, including political allegations, did not render the order unjust or inconvenient. The Freezing Order is proportionate and should be continued against all Defendants, with ongoing review as further information is provided.

Citation
[2009] EWHC 2840 (Comm)
Parties
Claimant: JSC BTA Bank; First Defendant: Mukhtar Ablyazov; Second Defendant: Roman Solodchenko; Third Defendant: Zhaksylik Zharimbetov; Fourth Defendant: Drey Associates Limited; Fifth Defendant: Anthony Edward Thomas Stroud; Sixth Defendant: John Dominic Wilson; Seventh Defendant: Sarah Juliet Wilson
Jurisdiction
England and Wales
Judgment Date
12 November 2009
Procedural Posture
Commercial Court Application / Application to Continue Freezing Order
Outcome
Freezing Order continued against all Defendants
Legal Topics
Freezing Injunctions, Asset Dissipation, Disclosure Obligations, Non Disclosure, Risk of Dissipation, Proportionality of Injunctive Relief
Civil Procedure Commercial Law Freezing Injunctions Asset Dissipation Disclosure Obligations Non Disclosure Risk of Dissipation Proportionality of Injunctive Relief

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Parties

JSC BTA Bank

Claimant

Mukhtar Ablyazov

First Defendant

Roman Solodchenko

Second Defendant

Zhaksylik Zharimbetov

Third Defendant

Drey Associates Limited

Fourth Defendant

Anthony Edward Thomas Stroud

Fifth Defendant

John Dominic Wilson

Sixth Defendant

Sarah Juliet Wilson

Seventh Defendant

Procedural Posture

Commercial Court Application / Application to Continue Freezing Order

Legal Issues

  1. 1 Whether the Freezing Order against the Defendants should be continued
  2. 2 Whether there is a real risk of dissipation of assets by the Defendants
  3. 3 Whether there was material non-disclosure by the Claimant in obtaining the Freezing Order

Ratio Decidendi

The Bank established a good arguable case and a real risk of dissipation of assets by the Defendants. There was no material non-disclosure sufficient to justify discharge of the Freezing Order. The context of the dispute, including political allegations, did not render the order unjust or inconvenient. The Freezing Order is proportionate and should be continued against all Defendants, with ongoing review as further information is provided.

Court Disposition

Freezing Order continued against all Defendants

Orders

  • Freezing Order continued against First to Seventh Defendants
  • Restriction on disclosure of asset information to Bank's counsel and solicitors remains in place