NRC Holding Ltd v Danilitskiy & Anor

NRC Holding Ltd v Danilitskiy & Anor

Mr Danilitskiy provided the purchase price for the Property, which was acquired in the name of Opal Stem, a company with no assets or operations. There is no evidence that the purchase price was a loan or capital subscription, nor evidence of intention to benefit Opal Stem. The presumption of a resulting trust applies, and Mr Danilitskiy retained the beneficial interest. Subsequent events, including the transfer of shares to Ms Maltseva, do not evidence divestment of his beneficial interest. The absence of evidence from Mr Danilitskiy supports an adverse inference against Opal Stem. NRC is entitled to a final charging order.

Parties
Applicant/claimant: NRC Holding Limited; First Defendant/respondent: Anatoly Antonovich Danilitskiy; Second Defendant/respondent: Abro Financial Services Limited; Third Defendant/respondent: Kolfor Trading Limited; Fourth Defendant/respondent: Opal Stem Limited
Jurisdiction
England and Wales
Judgment Date
20 June 2017
Procedural Posture
Civil (chancery Division) / Application to Make Interim Charging Order Final
Outcome
Application granted; interim charging order made final.
Legal Topics
Resulting Trusts, Beneficial Ownership, Charging Orders, Enforcement of Judgments
Equity and Trusts Civil Procedure Property Law Resulting Trusts Beneficial Ownership Charging Orders Enforcement of Judgments

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Parties

NRC Holding Limited

Applicant/claimant

Anatoly Antonovich Danilitskiy

First Defendant/respondent

Abro Financial Services Limited

Second Defendant/respondent

Kolfor Trading Limited

Third Defendant/respondent

Opal Stem Limited

Fourth Defendant/respondent

Procedural Posture

Civil (chancery Division) / Application to Make Interim Charging Order Final

Legal Issues

  1. 1 Whether Mr Danilitskiy is the beneficial owner of the property held in the name of Opal Stem Limited
  2. 2 Whether NRC is entitled to a final charging order over the property

Ratio Decidendi

Mr Danilitskiy provided the purchase price for the Property, which was acquired in the name of Opal Stem, a company with no assets or operations. There is no evidence that the purchase price was a loan or capital subscription, nor evidence of intention to benefit Opal Stem. The presumption of a resulting trust applies, and Mr Danilitskiy retained the beneficial interest. Subsequent events, including the transfer of shares to Ms Maltseva, do not evidence divestment of his beneficial interest. The absence of evidence from Mr Danilitskiy supports an adverse inference against Opal Stem. NRC is entitled to a final charging order.

Court Disposition

Application granted; interim charging order made final.

Orders

  • The interim charging order made by Master Teverson in respect of the Property is made final.
  • Parties to agree a minute of order reflecting the judgment and consequential matters; further submissions to be heard if not agreed.