JSC Commercial Bank Privatbank v Igot Valeryvich Kolomoisky & Ors.

JSC Commercial Bank Privatbank v Igot Valeryvich Kolomoisky & Ors.

The court held that further disclosure by the first and second defendants is necessary and proportionate to police the WFO, including details of income and bank accounts held by NTCs and other entities controlled by the defendants, subject to the qualification that the defendants are only required to take all reasonable steps and make all reasonable enquiries. The proposed disclosure is not unduly onerous or oppressive and is justified to ensure the effectiveness of the WFO.

Parties
Claimant: JSC Commercial Bank PrivatBank; First Defendant: Igor Valeryevich Kolomoisky; Second Defendant: Gennadiy Borisovich Bogolyubov; Third Defendant: Teamtrend Limited; Fourth Defendant: Trade Point Agro Limited; Fifth Defendant: Collyer Limited; Sixth Defendant: Rossyn Investing Corp; Seventh Defendant: Milbert Ventures Inc; Eighth Defendant: ZAO Ukrtransitservice Ltd
Jurisdiction
England and Wales
Judgment Date
31 January 2023
Procedural Posture
Commercial / Interlocutory Application for Further Disclosure and Enforcement of Worldwide Freezing Order
Outcome
Application granted in part
Legal Topics
Worldwide Freezing Orders, Disclosure Orders, Enforcement of Judgments, Asset Tracing
Civil Procedure Banking Law Asset Recovery Worldwide Freezing Orders Disclosure Orders Enforcement of Judgments Asset Tracing

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 9 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

JSC Commercial Bank PrivatBank

Claimant

Igor Valeryevich Kolomoisky

First Defendant

Gennadiy Borisovich Bogolyubov

Second Defendant

Teamtrend Limited

Third Defendant

Trade Point Agro Limited

Fourth Defendant

Collyer Limited

Fifth Defendant

Rossyn Investing Corp

Sixth Defendant

Milbert Ventures Inc

Seventh Defendant

ZAO Ukrtransitservice Ltd

Eighth Defendant

Procedural Posture

Commercial / Interlocutory Application for Further Disclosure and Enforcement of Worldwide Freezing Order

Legal Issues

  1. 1 Whether further disclosure should be ordered to police the worldwide freezing order (WFO)
  2. 2 Whether disclosure should include income and bank accounts held by non-trading companies (NTCs) and other entities controlled by the defendants
  3. 3 Whether the disclosure obligation should be absolute or limited to reasonable enquiries

Ratio Decidendi

The court held that further disclosure by the first and second defendants is necessary and proportionate to police the WFO, including details of income and bank accounts held by NTCs and other entities controlled by the defendants, subject to the qualification that the defendants are only required to take all reasonable steps and make all reasonable enquiries. The proposed disclosure is not unduly onerous or oppressive and is justified to ensure the effectiveness of the WFO.

Court Disposition

Application granted in part

Orders

  • First and second defendants to file and serve witness statements disclosing details of income received from specified assets since 21 December 2017, and details of bank accounts with credit balances exceeding £1 million as at 9 September 2022, subject to the qualification that all reasonable steps and reasonable...