JSC Commercial Bank Privatbank v Igor Valeryevich Kolomoisky & Ors

JSC Commercial Bank Privatbank v Igor Valeryevich Kolomoisky & Ors

Mr Bogolyubov is required to use all reasonable endeavours to restore the dissolved companies to the BVI register, including paying all agency and registry fees necessary for restoration, regardless of his shareholding, to safeguard assets subject to the freezing injunction. Indemnity costs are justified due to unreasonable and prejudicial delaying tactics.

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 / Ruling on Application for Restoration of Dissolved Companies and Costs
Outcome
Application granted; costs awarded on indemnity basis.
Legal Topics
Freezing Injunction, Restoration of Dissolved Companies, Costs Assessment, Contribution Between Co Owners
Commercial Law Asset Recovery Injunctions Freezing Injunction Restoration of Dissolved Companies Costs Assessment Contribution Between Co Owners

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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 / Ruling on Application for Restoration of Dissolved Companies and Costs

Legal Issues

  1. 1 Whether Mr Bogolyubov must use 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 Assessment of costs and whether indemnity basis is justified

Ratio Decidendi

Mr Bogolyubov is required to use all reasonable endeavours to restore the dissolved companies to the BVI register, including paying all agency and registry fees necessary for restoration, regardless of his shareholding, to safeguard assets subject to the freezing injunction. Indemnity costs are justified due to unreasonable and prejudicial delaying tactics.

Court Disposition

Application granted; costs awarded on indemnity basis.

Orders

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