JSC Commercial Bank Privatbank v Kolomoisky & Ors [2022] EWHC 1445 (Ch) (14 June 2022)

JSC Commercial Bank Privatbank v Kolomoisky & Ors [2022] EWHC 1445 (Ch) (14 June 2022)

Given the precarious nature of the KZhRK receivable, the lack of reasonable steps by the first defendant to realise or preserve it, and the risk of dissipation, it is just and convenient to order further mandatory ancillary relief to ensure preservation of the asset for enforcement purposes.

Citation
[2022] EWHC 1445 (Ch)
Parties
Claimant: JSC Commercial Bank Privatbank; First Defendant: Igor Valeryevich Kolomoisky; Second Defendant: Gennadiy Borisovich Bogolyubov; Third Defendant: Teamtrend Limited; Fourth Defendant: Trade Point Agro Limited; Fifth Defendant: Collyer Limited; Sixth Defendant: Rossyn Investing Corp; Seventh Defendant: Milbert Ventures Inc; Eighth Defendant: ZAO Ukrtransitservice Ltd
Jurisdiction
England and Wales
Judgment Date
14 June 2022
Procedural Posture
Ancillary Application to Freezing Order in Civil Fraud Proceedings / Post Freezing Order, Interlocutory Application
Outcome
Application granted in part; mandatory ancillary relief ordered.
Legal Topics
Freezing Orders, Ancillary Relief, Fraud, Asset Disclosure, Mandatory Injunctions
Civil Procedure Injunctions Asset Preservation Freezing Orders Ancillary Relief Fraud Asset Disclosure Mandatory Injunctions

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Parties

JSC Commercial Bank Privatbank

Claimant

Igor Valeryevich Kolomoisky

First Defendant

Gennadiy Borisovich Bogolyubov

Second Defendant

Teamtrend Limited

Third Defendant

Trade Point Agro Limited

Fourth Defendant

Collyer Limited

Fifth Defendant

Rossyn Investing Corp

Sixth Defendant

Milbert Ventures Inc

Seventh Defendant

ZAO Ukrtransitservice Ltd

Eighth Defendant

Procedural Posture

Ancillary Application to Freezing Order in Civil Fraud Proceedings / Post Freezing Order, Interlocutory Application

Legal Issues

  1. 1 Whether further mandatory ancillary relief is justified to preserve the KZhRK receivable asset under the freezing order
  2. 2 Whether the first defendant should be ordered to demand payment and provide information regarding the KZhRK receivable

Ratio Decidendi

Given the precarious nature of the KZhRK receivable, the lack of reasonable steps by the first defendant to realise or preserve it, and the risk of dissipation, it is just and convenient to order further mandatory ancillary relief to ensure preservation of the asset for enforcement purposes.

Court Disposition

Application granted in part; mandatory ancillary relief ordered.

Orders

  • First defendant to make written demand for payment of remaining amounts representing dividends already declared under the KZhRK agreement within 14 days.
  • First defendant to provide up-to-date contact details for Mr Voevodin within 14 days.