National Bank Trust v Yurov [2020] EWHC 757 (Comm) (27 February 2020)

National Bank Trust v Yurov [2020] EWHC 757 (Comm) (27 February 2020)

The court granted post-judgment worldwide freezing orders against the defendants, released the Bank from undertakings restricting use of information for enforcement in Switzerland and other jurisdictions, and limited living and legal expenses exceptions to cases where defendants demonstrated no other assets. The court refused Bank Winter's application for a disclaimer, finding it unnecessary, and declined to make a costs order against Bank Winter. The court also clarified the wording of declaratory relief and hearing orders, and released the Bank from cross-undertakings in damages.

Citation
[2020] EWHC 757 (Comm)
Parties
Claimant: National Bank Trust; First Defendant: Ilya Yurov; Second Defendant: Sergey Belyaev; Third Defendant: Nikolay Fetisov; Fourth Defendant: Nataliya Yurova; Fifth Defendant: Irina Belyaeva; Sixth Defendant: Elena Pischulina
Jurisdiction
England and Wales
Judgment Date
27 February 2020
Procedural Posture
Commercial Court Claim / Post Judgment Consequential Hearing
Outcome
Post-judgment worldwide freezing orders granted; Bank released from undertakings; declaratory relief and asset disclosure ordered; limited provision for living/legal expenses; no costs order against Bank Winter; cross-undertakings in damages released.
Legal Topics
Freezing Injunctions, Asset Disclosure, Enforcement of Judgments, Cross Undertakings in Damages, Living and Legal Expenses Under Freezing Orders, Trusts, Declaratory Relief
Commercial Law Fraud Civil Procedure Freezing Injunctions Asset Disclosure Enforcement of Judgments Cross Undertakings in Damages Living and Legal Expenses Under Freezing Orders +2 more

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Parties

National Bank Trust

Claimant

Ilya Yurov

First Defendant

Sergey Belyaev

Second Defendant

Nikolay Fetisov

Third Defendant

Nataliya Yurova

Fourth Defendant

Irina Belyaeva

Fifth Defendant

Elena Pischulina

Sixth Defendant

Procedural Posture

Commercial Court Claim / Post Judgment Consequential Hearing

Legal Issues

  1. 1 Whether to grant post-judgment worldwide freezing order and its scope
  2. 2 Whether to release claimant from undertaking restricting use of information obtained under freezing order
  3. 3 Entitlement to living and legal expenses under post-judgment freezing order

Ratio Decidendi

The court granted post-judgment worldwide freezing orders against the defendants, released the Bank from undertakings restricting use of information for enforcement in Switzerland and other jurisdictions, and limited living and legal expenses exceptions to cases where defendants demonstrated no other assets. The court refused Bank Winter's application for a disclaimer, finding it unnecessary, and declined to make a costs order against Bank Winter. The court also clarified the wording of declaratory relief and hearing orders, and released the Bank from cross-undertakings in damages.

Court Disposition

Post-judgment worldwide freezing orders granted; Bank released from undertakings; declaratory relief and asset disclosure ordered; limited provision for living/legal expenses; no costs order against Bank Winter; cross-undertakings in damages released.

Orders

  • Post-judgment worldwide freezing order against defendants (with limited scope for Sixth Defendant)
  • Release of Bank from undertaking restricting use of information for enforcement in Switzerland and other jurisdictions