Concept Oil Services Ltd v En-Gin Group L & Ors

Concept Oil Services Ltd v En-Gin Group L & Ors

The defendants, through fraudulent misrepresentations and deliberate concealment of changes to the corporate structure, induced COS to advance funds and enter agreements, resulting in loss. The purported transfer of assets to EG Anguilla was void under English law. The defendants acted in common design and conspiracy to put assets beyond COS’s reach. COS is entitled to damages, rescission, declarations, and orders under the Insolvency Act.

Parties
Claimant: Concept Oil Services Limited; Defendant: EN-GIN Group LLP; Defendant: EN-GIN Production LLP; Defendant: Mr Alexander Kontsevoy; Defendant: Mr Yerlan Buratov; Defendant: Skyagra Development LLP; Defendant: EN-GIN Limited; Defendant: Akkert SA; Defendant: Akkert Kazakhstan LLP; Defendant: EN-GIN Ltd; Defendant: NKCES-Trade LLC; Defendant: Larson Complex Ltd.
Jurisdiction
England and Wales
Judgment Date
05 July 2013
Procedural Posture
Commercial / Final Judgment After Trial on Merits
Outcome
Judgment for claimant
Legal Topics
Deceit, Conspiracy, Transactions Defrauding Creditors, Conflict of Laws, Rescission, Freezing Injunction
Commercial Law Tort Law Insolvency Law Deceit Conspiracy Transactions Defrauding Creditors Conflict of Laws Rescission +1 more

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Parties

Concept Oil Services Limited

Claimant

EN-GIN Group LLP

Defendant

EN-GIN Production LLP

Defendant

Mr Alexander Kontsevoy

Defendant

Mr Yerlan Buratov

Defendant

Skyagra Development LLP

Defendant

EN-GIN Limited

Defendant

Akkert SA

Defendant

Akkert Kazakhstan LLP

Defendant

EN-GIN Ltd

Defendant

NKCES-Trade LLC

Defendant

Larson Complex Ltd.

Defendant

Procedural Posture

Commercial / Final Judgment After Trial on Merits

Legal Issues

  1. 1 Whether the defendants committed deceit by misrepresentation
  2. 2 Whether the defendants conspired to cause loss by unlawful means
  3. 3 Whether the transfer of assets was void under English law

Ratio Decidendi

The defendants, through fraudulent misrepresentations and deliberate concealment of changes to the corporate structure, induced COS to advance funds and enter agreements, resulting in loss. The purported transfer of assets to EG Anguilla was void under English law. The defendants acted in common design and conspiracy to put assets beyond COS’s reach. COS is entitled to damages, rescission, declarations, and orders under the Insolvency Act.

Court Disposition

Judgment for claimant

Orders

  • Damages for deceit against third, fourth, and sixth defendants: US$11,657,187.82 plus interest at 1% over LIBOR from 31 January 2011.
  • Damages for conspiracy against first to eighth defendants: US$11,657,187.82 plus interest at 1% over LIBOR from 31 January 2011.