UBS Switzerland AG v Anil Kumar

UBS Switzerland AG v Anil Kumar

Mr Kumar failed to discharge the burden of proving he has no access to other assets or sources of funding, particularly due to inadequate explanation regarding the Family Trust and inconsistencies in his evidence about his financial position and lifestyle. Therefore, the application to vary the WFO to permit sale of Dubai properties and use of proceeds for legal expenses is dismissed.

Parties
Claimant/respondent: UBS Switzerland AG; Defendant/applicant: Mr Anil Kumar
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Civil (freezing Order Variation Application) / Interlocutory Application for Variation of Worldwide Freezing Order
Outcome
Application dismissed
Legal Topics
Variation of Freezing Orders, Burden of Proof for Asset Disclosure, Legal Expenses Exception, Family Trusts and Asset Access
Civil Procedure Injunctions Asset Freezing Variation of Freezing Orders Burden of Proof for Asset Disclosure Legal Expenses Exception Family Trusts and Asset Access

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Parties

UBS Switzerland AG

Claimant/respondent

Mr Anil Kumar

Defendant/applicant

Procedural Posture

Civil (freezing Order Variation Application) / Interlocutory Application for Variation of Worldwide Freezing Order

Legal Issues

  1. 1 Whether Mr Kumar has discharged the burden of proving no access to other assets or sources of funding to pay legal expenses and thus should be permitted to vary the worldwide freezing order to sell Dubai properties and use proceeds for legal fees.

Ratio Decidendi

Mr Kumar failed to discharge the burden of proving he has no access to other assets or sources of funding, particularly due to inadequate explanation regarding the Family Trust and inconsistencies in his evidence about his financial position and lifestyle. Therefore, the application to vary the WFO to permit sale of Dubai properties and use of proceeds for legal expenses is dismissed.

Court Disposition

Application dismissed

Orders

  • Mr Kumar’s application for variation of the worldwide freezing order is dismissed.
  • Amendments to the trial timetable are granted as proposed by Mr Kumar and accepted by UBS.