Astor Asset Management 3 Ltd & Ors v Pliego & Anor [2025] EWCA Civ 1060 (31 July 2025)

Astor Asset Management 3 Ltd & Ors v Pliego & Anor [2025] EWCA Civ 1060 (31 July 2025)

The claimants did not breach their duty of full and frank disclosure as the alleged non-disclosures regarding Mr Salinas' wealth and probity were either immaterial, highly contentious, or already addressed by the evidence; there was no real reason to doubt Mr Salinas' ability or willingness to pay, and the evidence provided was sufficient at the without notice stage.

Citation
[2025] EWCA Civ 1060
Parties
Appellant/defendant: Astor Asset Management 3 Limited; Appellant/defendant: Vladimir Sklarov; Appellant/defendant: Cornelius Vanderbilt Capital Management Ltd; Appellant/defendant: Astor Capital Fund Ltd; Respondent/claimant: Ricardo Benjamin Salinas Pliego; Respondent/claimant: Corporacion RBS SA de CV
Jurisdiction
England and Wales
Judgment Date
31 July 2025
Procedural Posture
Appeal (civil) / Appeal From High Court Order Refusing to Discharge Freezing and Proprietary Injunctions
Outcome
Appeal dismissed
Legal Topics
Freezing Injunctions, Full and Frank Disclosure, Proprietary Injunctions, Cross Undertaking in Damages, Material Non Disclosure, Ability and Willingness to Pay, Probity of Applicant
Civil Procedure Commercial Law Equity Freezing Injunctions Full and Frank Disclosure Proprietary Injunctions Cross Undertaking in Damages Material Non Disclosure +2 more

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Parties

Astor Asset Management 3 Limited

Appellant/defendant

Vladimir Sklarov

Appellant/defendant

Cornelius Vanderbilt Capital Management Ltd

Appellant/defendant

Astor Capital Fund Ltd

Appellant/defendant

Ricardo Benjamin Salinas Pliego

Respondent/claimant

Corporacion RBS SA de CV

Respondent/claimant

Procedural Posture

Appeal (civil) / Appeal From High Court Order Refusing to Discharge Freezing and Proprietary Injunctions

Legal Issues

  1. 1 Whether the claimants breached their duty of full and frank disclosure regarding Mr Salinas' wealth and probity when obtaining freezing and proprietary injunctions
  2. 2 Whether alleged non-disclosures were material to the grant of relief or the cross-undertaking in damages

Ratio Decidendi

The claimants did not breach their duty of full and frank disclosure as the alleged non-disclosures regarding Mr Salinas' wealth and probity were either immaterial, highly contentious, or already addressed by the evidence; there was no real reason to doubt Mr Salinas' ability or willingness to pay, and the evidence provided was sufficient at the without notice stage.

Court Disposition

Appeal dismissed

Orders

  • The appeal against the High Court's refusal to discharge the freezing and proprietary injunctions is dismissed.