Kazakhstan Kagazy Plc & Ors v Zhunus (Formerly Baglan Abdull) & Ors

Kazakhstan Kagazy Plc & Ors v Zhunus (Formerly Baglan Abdull) & Ors

The court dismissed Mrs. Arip's application for a stay of asset disclosure obligations, holding that pending applications or anticipated payments do not justify delay or excuse in complying with asset disclosure orders imposed under a worldwide freezing order.

Parties
Claimant: Kazakhstan Kagazy PLC; Claimant: Prime Estate Activities Kazakhstan LLP; Claimant: Peak Akzhal LLP; Claimant: Peak Aksenger LLP; Claimant: Astana - Contract JSC; Claimant: Paragon Development LLP; Defendant: Baglan Abdullayevich Zhunus; Defendant: Maksat Askaruly Arip; Defendant: Shynar Dikhanbayeva; Defendant: Sholpan Arip; Defendant: Larissa Asilbekova; Additional Party: Harbour Fund III LP; Applicant/respondent: Dencora Limited; Applicant/respondent: Standcorp Limited; Applicant/respondent: Pilatus Trustees Limited; Respondent: Cooperton Management Limited; Respondent: Permafast Limited; Respondent: Waychem Limited; Respondent: Fablink Limited; Respondent: Unistarel Corporation
Jurisdiction
England and Wales
Judgment Date
18 January 2019
Procedural Posture
Commercial Court Application / Ruling on Application for Stay of Asset Disclosure Obligations
Outcome
Application for stay of asset disclosure obligations dismissed
Legal Topics
Worldwide Freezing Order, Asset Disclosure, Trust Distribution, Stay of Proceedings
Civil Procedure Asset Freezing Trusts Worldwide Freezing Order Asset Disclosure Trust Distribution Stay of Proceedings

Case Brief

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Parties

Kazakhstan Kagazy PLC

Claimant

Prime Estate Activities Kazakhstan LLP

Claimant

Peak Akzhal LLP

Claimant

Peak Aksenger LLP

Claimant

Astana - Contract JSC

Claimant

Paragon Development LLP

Claimant

Baglan Abdullayevich Zhunus

Defendant

Maksat Askaruly Arip

Defendant

Shynar Dikhanbayeva

Defendant

Sholpan Arip

Defendant

Larissa Asilbekova

Defendant

Harbour Fund III LP

Additional Party

Dencora Limited

Applicant/respondent

Standcorp Limited

Applicant/respondent

Pilatus Trustees Limited

Applicant/respondent

Cooperton Management Limited

Respondent

Permafast Limited

Respondent

Waychem Limited

Respondent

Fablink Limited

Respondent

Unistarel Corporation

Respondent

Procedural Posture

Commercial Court Application / Ruling on Application for Stay of Asset Disclosure Obligations

Legal Issues

  1. 1 Whether Mrs. Arip's obligations to disclose assets should be stayed pending determination of trust fund distribution application
  2. 2 Whether pending applications or anticipated payments justify delay or excuse in complying with asset disclosure orders

Ratio Decidendi

The court dismissed Mrs. Arip's application for a stay of asset disclosure obligations, holding that pending applications or anticipated payments do not justify delay or excuse in complying with asset disclosure orders imposed under a worldwide freezing order.

Court Disposition

Application for stay of asset disclosure obligations dismissed

Orders

  • Mrs. Arip's application for a stay is dismissed
  • Evidence served and sealed to be unsealed and made available to claimants