JSC BTA Bank v Ablyazov & Anor (Rev 1) [2009] EWHC 3267 (Comm) (11 December 2009)

JSC BTA Bank v Ablyazov & Anor (Rev 1) [2009] EWHC 3267 (Comm) (11 December 2009)

The court has jurisdiction to correct or vary the freezing order due to an accidental slip and misleading of the court; in this exceptional case, the risk of dissipation and indirect overseas assets justifies amending the standard form to restrict dealings with overseas assets unless assets in England and Wales...

Source-derived case information.

Citation
[2009] EWHC 3267 (Comm)
Parties
Claimant: JSC BTA Bank; Defendant: Mukhtar Ablyazov; Defendant: Roman Solodchenko; Defendant: Zhaksylyk Zharimbetov; Defendant: Drey Associates Limited; Defendant: Anthony Edward Thomas Stroud; Defendant: John Dominic Wilson; Defendant: Sarah Juliet Wilson
Jurisdiction
England and Wales
Judgment Date
11 December 2009
Procedural Posture
Commercial Court Freezing Injunction / Post Judgment Applications to Correct and Vary Freezing Order
Outcome
Order corrected and varied; freezing order amended subject to further drafting by counsel.
Legal Topics
Freezing Orders, Mareva Injunctions, Correction and Variation of Orders, Worldwide Asset Restraint
Civil Procedure Injunctions Freezing Orders Mareva Injunctions Correction and Variation of Orders Worldwide Asset Restraint

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Parties

JSC BTA Bank

Claimant

Mukhtar Ablyazov

Defendant

Roman Solodchenko

Defendant

Zhaksylyk Zharimbetov

Defendant

Drey Associates Limited

Defendant

Anthony Edward Thomas Stroud

Defendant

John Dominic Wilson

Defendant

Sarah Juliet Wilson

Defendant

Procedural Posture

Commercial Court Freezing Injunction / Post Judgment Applications to Correct and Vary Freezing Order

Legal Issues

  1. 1 Whether the freezing order should be corrected or varied under CPR 40.12 or CPR 3.1(7)
  2. 2 Whether the standard form of worldwide freezing order should be amended to restrict dealings with overseas assets unless assets in England and Wales exceed £175 million

Ratio Decidendi

The court has jurisdiction to correct or vary the freezing order due to an accidental slip and misleading of the court; in this exceptional case, the risk of dissipation and indirect overseas assets justifies amending the standard form to restrict dealings with overseas assets unless assets in England and Wales exceed £175 million, subject to defendants' right to apply for variation if prejudice arises.

Court Disposition

Order corrected and varied; freezing order amended subject to further drafting by counsel.

Orders

  • Paragraph 6 of the order to repeat paragraph 7 of the original freezing order.
  • Freezing order to be varied to give effect to the principle raised by the Claimant, subject to satisfactory redrafting.