JSC BTA Bank v Ablyazov & Ors [2011] EWHC 2506 (Comm) (04 October 2011)

JSC BTA Bank v Ablyazov & Ors [2011] EWHC 2506 (Comm) (04 October 2011)

The court found the Respondents had not genuinely complied with disclosure obligations, had misled the court as to beneficial ownership and control, and had fabricated or backdated documents. This conduct justified setting aside the relief from sanction previously granted and entering judgment against the Respondents.

Citation
[2011] EWHC 2506 (Comm)
Parties
Claimant: JSC BTA Bank; Defendant: Mukhtar Ablyazov; Defendant: Zhaksylik Zharimbetov; Defendant: Granton Trade Ltd; Defendant: Branden & Associates Ltd; Defendant: Aldridge Ventures Ltd; Defendant: Zafferant Partners Inc; Defendant: Forest Management Ltd; Defendant: Loginex Projects LLP; Defendant: Incompro Management Ltd; Defendant: Perspective Communications Inc; Defendant: Austin Universal Inc; Defendant: Maden Holding Inc
Jurisdiction
England and Wales
Judgment Date
04 October 2011
Procedural Posture
Commercial Court Claim / Application to Set Aside Relief From Sanction and for Judgment
Outcome
Relief from sanction set aside; judgment entered against Respondents.
Legal Topics
Freezing Orders, Relief From Sanctions, Disclosure Obligations, Fraud, Beneficial Ownership, Sham Transactions
Civil Procedure Commercial Law Banking Law Freezing Orders Relief From Sanctions Disclosure Obligations Fraud Beneficial Ownership +1 more

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Parties

JSC BTA Bank

Claimant

Mukhtar Ablyazov

Defendant

Zhaksylik Zharimbetov

Defendant

Granton Trade Ltd

Defendant

Branden & Associates Ltd

Defendant

Aldridge Ventures Ltd

Defendant

Zafferant Partners Inc

Defendant

Forest Management Ltd

Defendant

Loginex Projects LLP

Defendant

Incompro Management Ltd

Defendant

Perspective Communications Inc

Defendant

Austin Universal Inc

Defendant

Maden Holding Inc

Defendant

Procedural Posture

Commercial Court Claim / Application to Set Aside Relief From Sanction and for Judgment

Legal Issues

  1. 1 Whether the Respondents misled the court regarding compliance with a freezing order and disclosure obligations
  2. 2 Whether relief from sanctions should be set aside and judgment entered against the Respondents

Ratio Decidendi

The court found the Respondents had not genuinely complied with disclosure obligations, had misled the court as to beneficial ownership and control, and had fabricated or backdated documents. This conduct justified setting aside the relief from sanction previously granted and entering judgment against the Respondents.

Court Disposition

Relief from sanction set aside; judgment entered against Respondents.

Orders

  • Relief from sanction granted on 10 December 2010 is set aside.
  • Judgment entered against the Third to Seventh, Ninth to Tenth and Twelfth Defendants.