National Bank Trust v Yurov

National Bank Trust v Yurov

The court granted post-judgment worldwide freezing orders against the Shareholders, with limited relief against their wives. No provision for living or legal expenses was made for Mr Yurov and Mr Fetisov due to the availability of their wives' assets, but liberty to apply was granted if evidence of lack of access is provided. The Bank was released from undertakings restricting collateral use of information for civil enforcement in Switzerland and other jurisdictions. The cross-undertaking in damages was released. No costs order was made against Bank Winter. The court clarified the status of property held on resulting trust and declined to make a disclaimer regarding Bank Winter's...

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 Fraud / Civil Enforcement / Post Judgment Consequential Hearing
Outcome
Post-judgment worldwide freezing orders granted with modifications; release from undertakings and cross-undertakings granted; no provision for living/legal expenses for certain defendants; no costs order against Bank Winter; property and trust issues reserved for enforcement stage.
Legal Topics
Freezing Orders, Asset Disclosure, Enforcement of Judgments, Living and Legal Expenses Under Freezing Orders, Cross Undertakings in Damages, Collateral Use of Disclosed Documents, International Enforcement, Resulting Trusts
Civil Procedure Commercial Law Banking Law Fraud Freezing Orders Asset Disclosure Enforcement of Judgments Living and Legal Expenses Under Freezing Orders +4 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 Fraud / Civil Enforcement / Post Judgment Consequential Hearing

Legal Issues

  1. 1 Whether to grant post-judgment worldwide freezing orders and their scope
  2. 2 Whether to allow living and legal expenses for defendants under the freezing order
  3. 3 Whether to release the claimant from undertakings restricting collateral use of information

Ratio Decidendi

The court granted post-judgment worldwide freezing orders against the Shareholders, with limited relief against their wives. No provision for living or legal expenses was made for Mr Yurov and Mr Fetisov due to the availability of their wives' assets, but liberty to apply was granted if evidence of lack of access is provided. The Bank was released from undertakings restricting collateral use of information for civil enforcement in Switzerland and other jurisdictions. The cross-undertaking in damages was released. No costs order was made against Bank Winter. The court clarified the status of property held on resulting trust and declined to make a disclaimer regarding Bank Winter's...

Court Disposition

Post-judgment worldwide freezing orders granted with modifications; release from undertakings and cross-undertakings granted; no provision for living/legal expenses for certain defendants; no costs order against Bank Winter; property and trust issues reserved for enforcement stage.

Orders

  • Post-judgment worldwide freezing orders against Shareholders; limited order against Ms Pischulina subject to undertaking and property caution.
  • No provision for living or legal expenses for Mr Yurov and Mr Fetisov; liberty to apply if evidence of lack of access to funds is provided.