Njord Partners SMA-Seal LP & Ors v Astir Maritime Ltd & Ors [2020] EWHC 3474 (Comm) (18 December 2020)

Njord Partners SMA-Seal LP & Ors v Astir Maritime Ltd & Ors [2020] EWHC 3474 (Comm) (18 December 2020)

The application to discharge the WWFO failed because the alleged non-disclosures were either not material, were disputed factual matters not suitable for summary determination, or were not established on the evidence. The presentation to the judge was fair in all material respects. There was a good arguable case of fraud and a real risk of dissipation justifying continuation of the WWFO.

Citation
[2020] EWHC 3474 (Comm)
Parties
Claimant/respondent: Njord Partners SMA-Seal LP; Claimant/respondent: NPSSF Debt Co SÀRL; Claimant/respondent: AIE III Investments, LP; Claimant: Nordic Trustee AS; Defendant: Astir Maritime Limited; Defendant: Muhammad Tahir Lakhani; Defendant/applicant: Muhammad Ali Lakhani
Jurisdiction
England and Wales
Judgment Date
18 December 2020
Procedural Posture
Commercial Court Proceedings (qbd) / Interlocutory Application to Discharge a Worldwide Freezing Order (wwfo)
Outcome
Application to discharge the worldwide freezing order dismissed; WWFO continued.
Legal Topics
Freezing Injunctions, Full and Frank Disclosure, Fraud/deceit, Facility Agreements, Risk of Dissipation, Personal Guarantees
Commercial Law Banking and Finance Civil Procedure Freezing Injunctions Full and Frank Disclosure Fraud/deceit Facility Agreements Risk of Dissipation +1 more

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Parties

Njord Partners SMA-Seal LP

Claimant/respondent

NPSSF Debt Co SÀRL

Claimant/respondent

AIE III Investments, LP

Claimant/respondent

Nordic Trustee AS

Claimant

Astir Maritime Limited

Defendant

Muhammad Tahir Lakhani

Defendant

Muhammad Ali Lakhani

Defendant/applicant

Procedural Posture

Commercial Court Proceedings (qbd) / Interlocutory Application to Discharge a Worldwide Freezing Order (wwfo)

Legal Issues

  1. 1 Whether the claimants failed to make full and frank disclosure on the without notice application for a worldwide freezing order against Mr Ali Lakhani
  2. 2 Whether there is a real risk of dissipation justifying continuation of the WWFO against Mr Ali Lakhani

Ratio Decidendi

The application to discharge the WWFO failed because the alleged non-disclosures were either not material, were disputed factual matters not suitable for summary determination, or were not established on the evidence. The presentation to the judge was fair in all material respects. There was a good arguable case of fraud and a real risk of dissipation justifying continuation of the WWFO.

Court Disposition

Application to discharge the worldwide freezing order dismissed; WWFO continued.

Orders

  • Mr Ali Lakhani's application to discharge the WWFO is dismissed.
  • Order for disclosure of source(s) of funding for living and legal expenses within ten days.