JCA BTA Bank v Ablyazov & Ors

JCA BTA Bank v Ablyazov & Ors

The Bank is not estopped from seeking a declaration of beneficial ownership due to the civil standard of proof and the emergence of new evidence post-committal hearing; the evidence now establishes that Mr. Ablyazov is the beneficial owner of the shares in Rocklane Properties Limited.

Parties
Claimant: JCA BTA Bank; Defendant: Mukhtar Ablyazov; Defendant: Rocklane Properties Limited; Defendant: Ivan Terenov
Jurisdiction
England and Wales
Judgment Date
28 February 2014
Procedural Posture
Application for Declaration / Judgment
Outcome
Declaration granted
Legal Topics
Beneficial Ownership, Issue Estoppel, Res Judicata, Standard of Proof, Receivership, Freezing Orders
Civil Procedure Trusts and Equity Beneficial Ownership Issue Estoppel Res Judicata Standard of Proof Receivership Freezing Orders

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 7 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

JCA BTA Bank

Claimant

Mukhtar Ablyazov

Defendant

Rocklane Properties Limited

Defendant

Ivan Terenov

Defendant

Procedural Posture

Application for Declaration / Judgment

Legal Issues

  1. 1 Whether Mr. Ablyazov is the beneficial owner of the shares in Rocklane Properties Limited
  2. 2 Whether issue estoppel or res judicata prevents the Bank from relitigating beneficial ownership
  3. 3 Whether the civil standard of proof applies to the present application

Ratio Decidendi

The Bank is not estopped from seeking a declaration of beneficial ownership due to the civil standard of proof and the emergence of new evidence post-committal hearing; the evidence now establishes that Mr. Ablyazov is the beneficial owner of the shares in Rocklane Properties Limited.

Court Disposition

Declaration granted

Orders

  • Declaration that Mr. Ablyazov is the beneficial owner of the entirety of the issued share capital in Rocklane Properties Limited, a company incorporated in the British Virgin Islands.
  • No declaration as to beneficial ownership of Flat 79, Elizabeth Court, but Bank reserves position.