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

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

No material non-disclosure occurred; claimants provided sufficient evidence of Mr Salinas' wealth and addressed all relevant allegations. The alleged failures were either immaterial or not established. The appeal is dismissed.

Parties
Appellant/defendant: Astor Asset Management 3 Limited; Appellant/defendant: Vladimir Sklarov; Appellant/defendant: Cornelius Vanderbilt Capital Management Ltd; Appellant/defendant: Astor Capital Fund Ltd; Respondent/claimant: Ricardo Benjamin Salinas Pliego; Respondent/claimant: Corporacion RBS SA de CV
Jurisdiction
England and Wales
Judgment Date
31 July 2025
Procedural Posture
Civil Appeal / Judgment on Appeal Against Refusal to Discharge Freezing and Proprietary Injunctions
Outcome
appeal dismissed
Legal Topics
Freezing Injunctions, Full and Frank Disclosure, Proprietary Injunctions, Cross Undertaking in Damages, Material Non Disclosure
Civil Procedure Commercial Law Freezing Injunctions Full and Frank Disclosure Proprietary Injunctions Cross Undertaking in Damages Material Non Disclosure

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Parties

Astor Asset Management 3 Limited

Appellant/defendant

Vladimir Sklarov

Appellant/defendant

Cornelius Vanderbilt Capital Management Ltd

Appellant/defendant

Astor Capital Fund Ltd

Appellant/defendant

Ricardo Benjamin Salinas Pliego

Respondent/claimant

Corporacion RBS SA de CV

Respondent/claimant

Procedural Posture

Civil Appeal / Judgment on Appeal Against Refusal to Discharge Freezing and Proprietary Injunctions

Legal Issues

  1. 1 Whether claimants breached duty of full and frank disclosure regarding Mr Salinas' wealth and probity when obtaining freezing and proprietary injunctions
  2. 2 Whether alleged non-disclosure was material to claimants' ability and willingness to pay under cross-undertaking or redeem collateral shares

Ratio Decidendi

No material non-disclosure occurred; claimants provided sufficient evidence of Mr Salinas' wealth and addressed all relevant allegations. The alleged failures were either immaterial or not established. The appeal is dismissed.

Court Disposition

appeal dismissed

Orders

  • Appeal dismissed; injunctions remain in force.
  • No order for discharge of freezing or proprietary injunctions.