JSC Commercial Bank PrivatBank v Kolomoisky & Ors [2025] EWHC 50 (Ch) (15 January 2025)

JSC Commercial Bank PrivatBank v Kolomoisky & Ors [2025] EWHC 50 (Ch) (15 January 2025)

Mr Bogolyubov is required to use all reasonable endeavours to restore the dissolved companies to the BVI register, including paying all necessary agency and registry fees in full, regardless of his shareholding, as this is necessary to safeguard assets subject to the freezing injunction. His conduct in delaying and changing positions justifies an order for indemnity costs.

Citation
[2025] EWHC 50 (Ch)
Parties
Claimant: JSC Commercial Bank PrivatBank; Defendant: Igor Valeryevich Kolomoisky; Defendant: Gennadiy Borisovich Bogolyubov; Defendant: Teamtrend Limited; Defendant: Trade Point Agro Limited; Defendant: Collyer Limited; Defendant: Rossyn Investing Corp; Defendant: Milbert Ventures Inc; Defendant: ZAO Ukrtransitservice Ltd
Jurisdiction
England and Wales
Judgment Date
15 January 2025
Procedural Posture
Commercial Asset Recovery / Freezing Injunction / Post Interim Application Ruling on Restoration of Companies and Costs
Outcome
Application granted in favour of the Bank; indemnity costs awarded against Mr Bogolyubov.
Legal Topics
Freezing Injunctions, Restoration of Dissolved Companies, Asset Preservation, Costs Assessment, Indemnity Costs
Commercial Law Insolvency Law Civil Procedure Freezing Injunctions Restoration of Dissolved Companies Asset Preservation Costs Assessment Indemnity Costs

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Parties

JSC Commercial Bank PrivatBank

Claimant

Igor Valeryevich Kolomoisky

Defendant

Gennadiy Borisovich Bogolyubov

Defendant

Teamtrend Limited

Defendant

Trade Point Agro Limited

Defendant

Collyer Limited

Defendant

Rossyn Investing Corp

Defendant

Milbert Ventures Inc

Defendant

ZAO Ukrtransitservice Ltd

Defendant

Procedural Posture

Commercial Asset Recovery / Freezing Injunction / Post Interim Application Ruling on Restoration of Companies and Costs

Legal Issues

  1. 1 Whether Mr Bogolyubov is obliged to use all reasonable endeavours to restore dissolved BVI companies to the register
  2. 2 Whether Mr Bogolyubov must pay all fees necessary for restoration regardless of his shareholding
  3. 3 Whether indemnity costs should be awarded against Mr Bogolyubov

Ratio Decidendi

Mr Bogolyubov is required to use all reasonable endeavours to restore the dissolved companies to the BVI register, including paying all necessary agency and registry fees in full, regardless of his shareholding, as this is necessary to safeguard assets subject to the freezing injunction. His conduct in delaying and changing positions justifies an order for indemnity costs.

Court Disposition

Application granted in favour of the Bank; indemnity costs awarded against Mr Bogolyubov.

Orders

  • Mr Bogolyubov must use all reasonable endeavours to restore the specified companies to the BVI register and provide updates to the Bank.
  • Mr Bogolyubov must pay all agency and registry fees necessary for restoration, regardless of his shareholding.