JSC BTA Bank v Ablyazov & Ors [2015] EWHC 3871 (Comm) (18 December 2015)

JSC BTA Bank v Ablyazov & Ors [2015] EWHC 3871 (Comm) (18 December 2015)

Madiyar Ablyazov failed to discharge the threshold burden of showing by full and frank evidence that he could not access funds from sources other than the EFG London account to meet his living and legal expenses. Therefore, the application to access the funds was dismissed.

Citation
[2015] EWHC 3871 (Comm)
Parties
Claimant: JSC BTA Bank; Defendants: Mukhtar Ablyazov (and Others); Applicant/intervener: Madiyar Ablyazov; Third Party: EFG Private Bank Limited
Jurisdiction
England and Wales
Judgment Date
18 December 2015
Procedural Posture
Commercial Court Proceedings / Interlocutory Application for Access to Funds for Living and Legal Expenses
Outcome
Application dismissed
Legal Topics
Freezing Orders, Receivership, Proprietary Claims, Legal Expenses, Living Expenses, Insolvency Act S.42
Civil Procedure Insolvency Banking Law Freezing Orders Receivership Proprietary Claims Legal Expenses Living Expenses +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 4 Party arguments 2 Amounts and remedies 8
Sign in to unlock

Parties

JSC BTA Bank

Claimant

Mukhtar Ablyazov (and Others)

Defendants

Madiyar Ablyazov

Applicant/intervener

EFG Private Bank Limited

Third Party

Procedural Posture

Commercial Court Proceedings / Interlocutory Application for Access to Funds for Living and Legal Expenses

Legal Issues

  1. 1 Whether Madiyar Ablyazov should be permitted to draw funds from the EFG London account for living and legal expenses pending determination of proprietary claims.

Ratio Decidendi

Madiyar Ablyazov failed to discharge the threshold burden of showing by full and frank evidence that he could not access funds from sources other than the EFG London account to meet his living and legal expenses. Therefore, the application to access the funds was dismissed.

Court Disposition

Application dismissed

Orders

  • Madiyar Ablyazov is not permitted to draw funds from the EFG London account for living or legal expenses pending determination of the proprietary claims.