Kazakhstan Kagazy Plc & Ors v Dencora Ltd & Ors [2019] EWHC 97 (Comm) (22 January 2019)

Kazakhstan Kagazy Plc & Ors v Dencora Ltd & Ors [2019] EWHC 97 (Comm) (22 January 2019)

The court will permit variation of the relevant orders to allow letting of the properties on commercial terms, provided the terms are agreed with the claimants or approved by the court, and provided rental income is safeguarded for property expenses only. The applicants failed to demonstrate necessity for access to...

Source-derived case information.

Citation
[2019] EWHC 97 (Comm)
Parties
Claimant: Kazakhstan Kagazy PLC; Claimant: Prime Estate Activities Kazakhstan LLP; Claimant: Peak Akzhal LLP; Claimant: Astana - Contract JSC; Claimant: Paragon Development LLP; Defendant: Baglan Abdullayevich Zhunus (formerly Zhunussov); Defendant: Maksat Askaruly Arip; Defendant: Shynar Dikhanbayeva; Defendant: Sholpan Arip; Defendant: Larissa Asilbekova; Defendant: Harbour Fund III LP; Applicant/defendant: Dencora Limited; Applicant/defendant: Standcorp Limited
Jurisdiction
England and Wales
Judgment Date
22 January 2019
Procedural Posture
Commercial Court Proceedings (charging Order and Freezing Order Variation Applications) / Interlocutory Application Ruling
Outcome
Application to vary orders to permit letting granted with conditions; application to use rental income for legal costs refused.
Legal Topics
Freezing Orders, Charging Orders, Beneficial Ownership, Variation of Court Orders, Enforcement of Money Judgments
Civil Procedure Commercial Law Enforcement of Judgments Freezing Orders Charging Orders Beneficial Ownership Variation of Court Orders Enforcement of Money Judgments

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Parties

Kazakhstan Kagazy PLC

Claimant

Prime Estate Activities Kazakhstan LLP

Claimant

Peak Akzhal LLP

Claimant

Astana - Contract JSC

Claimant

Paragon Development LLP

Claimant

Baglan Abdullayevich Zhunus (formerly Zhunussov)

Defendant

Maksat Askaruly Arip

Defendant

Shynar Dikhanbayeva

Defendant

Sholpan Arip

Defendant

Larissa Asilbekova

Defendant

Harbour Fund III LP

Defendant

Dencora Limited

Applicant/defendant

Standcorp Limited

Applicant/defendant

Procedural Posture

Commercial Court Proceedings (charging Order and Freezing Order Variation Applications) / Interlocutory Application Ruling

Legal Issues

  1. 1 Whether to vary interim charging and freezing orders to permit letting of properties subject to disputed beneficial ownership and freezing orders
  2. 2 Whether applicants may access rental income for legal costs

Ratio Decidendi

The court will permit variation of the relevant orders to allow letting of the properties on commercial terms, provided the terms are agreed with the claimants or approved by the court, and provided rental income is safeguarded for property expenses only. The applicants failed to demonstrate necessity for access to rental income for legal costs, so that aspect of the application is refused.

Court Disposition

Application to vary orders to permit letting granted with conditions; application to use rental income for legal costs refused.

Orders

  • Variation of interim charging and freezing orders to permit letting of Wycombe Property and Burlington Apartment for up to 24 months on terms agreed with claimants or approved by court.
  • Rental income to be paid into specified accounts and used only for property expenses unless claimants consent or court orders otherwise.