Ricardo Benjamin Salinas Pliego & Anor v Astor Asset Management 3 Ltd & Ors

Ricardo Benjamin Salinas Pliego & Anor v Astor Asset Management 3 Ltd & Ors

The Claimants did not breach their duty of full and frank disclosure in any of the respects alleged. The evidence established a good arguable case of fraud, and the Claimants acted promptly and fairly in seeking injunctive relief. The Sklarov Defendants' application to discharge the injunctions is dismissed.

Parties
Claimant: Ricardo Benjamin Salinas Pliego; Claimant: Corporacion RBS SA de CV; Defendant: Astor Asset Management 3 Limited; Defendant: Weiser Global Capital Markets Ltd; Defendant: Tavira Monaco SAM; Defendant: Vladimir “Val” Sklarov; Defendant: Cornelius Vanderbilt Capital Management Ltd; Defendant: Astor Capital Fund Limited
Jurisdiction
England and Wales
Judgment Date
10 July 2024
Procedural Posture
Commercial Fraud / Injunction Application / Ruling on Application to Discharge Worldwide Freezing and Proprietary Injunctions
Outcome
Application to discharge worldwide freezing and proprietary injunctions dismissed
Legal Topics
Freezing Injunctions, Proprietary Injunctions, Fraudulent Misrepresentation, Breach of Contract, Duty of Full and Frank Disclosure, Asset Dissipation, Stock Backed Lending Fraud
Commercial Law Equity and Trusts Civil Procedure Freezing Injunctions Proprietary Injunctions Fraudulent Misrepresentation Breach of Contract Duty of Full and Frank Disclosure +2 more

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Parties

Ricardo Benjamin Salinas Pliego

Claimant

Corporacion RBS SA de CV

Claimant

Astor Asset Management 3 Limited

Defendant

Weiser Global Capital Markets Ltd

Defendant

Tavira Monaco SAM

Defendant

Vladimir “Val” Sklarov

Defendant

Cornelius Vanderbilt Capital Management Ltd

Defendant

Astor Capital Fund Limited

Defendant

Procedural Posture

Commercial Fraud / Injunction Application / Ruling on Application to Discharge Worldwide Freezing and Proprietary Injunctions

Legal Issues

  1. 1 Whether the Claimants breached their duty of full and frank disclosure in obtaining worldwide freezing and proprietary injunctions
  2. 2 Whether the injunctions should be discharged for non-disclosure or misrepresentation
  3. 3 Whether there is a good arguable case of fraud and risk of dissipation

Ratio Decidendi

The Claimants did not breach their duty of full and frank disclosure in any of the respects alleged. The evidence established a good arguable case of fraud, and the Claimants acted promptly and fairly in seeking injunctive relief. The Sklarov Defendants' application to discharge the injunctions is dismissed.

Court Disposition

Application to discharge worldwide freezing and proprietary injunctions dismissed

Orders

  • Worldwide freezing and proprietary injunctions remain in force
  • No order for discharge of injunctions