JSC BTA Bank v Usarel Investments Ltd

JSC BTA Bank v Usarel Investments Ltd

The litigation receiver's powers under the 2012 Order do not extend to conducting appeals or bringing contribution proceedings; such powers are not implied and must be expressly granted.

Parties
Claimant/respondent: JSC BTA Bank; Defendant/applicant: Usarel Investments Limited (by its litigation receiver David Rubin)
Jurisdiction
England and Wales
Judgment Date
24 June 2013
Procedural Posture
Chancery Division Civil Claim / Post Judgment Application Regarding Receiver's Powers
Outcome
Application refused
Legal Topics
Receivership, Litigation Receiver Powers, Appeals, Appointment of Directors
Civil Procedure Company Law Receivership Litigation Receiver Powers Appeals Appointment of Directors

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Parties

JSC BTA Bank

Claimant/respondent

Usarel Investments Limited (by its litigation receiver David Rubin)

Defendant/applicant

Procedural Posture

Chancery Division Civil Claim / Post Judgment Application Regarding Receiver's Powers

Legal Issues

  1. 1 Whether litigation receiver has power to conduct appeal or bring contribution proceedings
  2. 2 Interpretation of receivership orders regarding scope of powers

Ratio Decidendi

The litigation receiver's powers under the 2012 Order do not extend to conducting appeals or bringing contribution proceedings; such powers are not implied and must be expressly granted.

Court Disposition

Application refused

Orders

  • Mr Rubin's application for extension of powers to pursue appeal and contribution proceedings is refused.
  • Court will consider further extension of time for appealing or seeking permission to appeal if requested.