JSC VTB Bank v Skurikhin & Ors [2019] EWHC 1407 (Comm) (12 June 2019)

JSC VTB Bank v Skurikhin & Ors [2019] EWHC 1407 (Comm) (12 June 2019)

Berenger is precluded from reopening the factual basis of the Receivership Order as to Skurikhin's beneficial ownership or control, as those issues were finally determined in the 2015 application, and no exceptional circumstances or material change justifying discharge have been established. The exclusion of Skurikhin as a beneficiary post-order does not retrospectively undermine the basis for the receivership, and the order remains just and convenient for enforcement.

Citation
[2019] EWHC 1407 (Comm)
Parties
Claimant: JSC VTB Bank; First Defendant: Pavel Valerjevich Skurikhin; Second Defendant: Pikeville Investments LLP; Third Defendant: Perchwell Holdings LLP; First Respondent: Zeno Alois Meier; Second Respondent: Beat Lerch; Third Respondent: Crown Capital Holdings Limited; Fourth Respondent: The Berenger Foundation; Fifth Respondent: Accreda Trustees Limited
Jurisdiction
England and Wales
Judgment Date
12 June 2019
Procedural Posture
Commercial Court Application (discharge of Receivership Order) / Judgment on Application to Discharge Receivership Order
Outcome
Application to discharge Receivership Order dismissed
Legal Topics
Receivership, Equitable Execution, Beneficial Ownership, Abuse of Process, Issue Estoppel, Trust Law, Cross Border Enforcement
Civil Procedure Trusts and Equity Insolvency International Enforcement Receivership Equitable Execution Beneficial Ownership Abuse of Process +3 more

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Parties

JSC VTB Bank

Claimant

Pavel Valerjevich Skurikhin

First Defendant

Pikeville Investments LLP

Second Defendant

Perchwell Holdings LLP

Third Defendant

Zeno Alois Meier

First Respondent

Beat Lerch

Second Respondent

Crown Capital Holdings Limited

Third Respondent

The Berenger Foundation

Fourth Respondent

Accreda Trustees Limited

Fifth Respondent

Procedural Posture

Commercial Court Application (discharge of Receivership Order) / Judgment on Application to Discharge Receivership Order

Legal Issues

  1. 1 Whether Berenger can seek to discharge the Receivership Order on grounds available in 2015 but not raised then
  2. 2 Whether the factual basis for the Receivership Order (Skurikhin's control/beneficial ownership) was incorrect
  3. 3 Whether subsequent exclusion of Skurikhin as beneficiary is a material change justifying discharge

Ratio Decidendi

Berenger is precluded from reopening the factual basis of the Receivership Order as to Skurikhin's beneficial ownership or control, as those issues were finally determined in the 2015 application, and no exceptional circumstances or material change justifying discharge have been established. The exclusion of Skurikhin as a beneficiary post-order does not retrospectively undermine the basis for the receivership, and the order remains just and convenient for enforcement.

Court Disposition

Application to discharge Receivership Order dismissed

Orders

  • Receivership Order remains in force; application by Berenger to discharge is refused