JSC BTA Bank v Mukhtar Ablyazov & Ors

JSC BTA Bank v Mukhtar Ablyazov & Ors

Madiyar Ablyazov failed to discharge the threshold burden of proving by full and frank evidence that he does not have access to other funds for living and legal expenses. Therefore, he is not permitted to draw on the EFG London account pending trial.

Parties
Claimant: JSC BTA Bank; Defendant: Mukhtar Ablyazov; Applicant/intervener: Madiyar Ablyazov; Third Party: EFG Private Bank Limited
Jurisdiction
England and Wales
Judgment Date
18 December 2015
Procedural Posture
Commercial / Interlocutory Application for Access to Funds Pending Trial
Outcome
application dismissed
Legal Topics
Freezing Orders, Living Expenses, Legal Expenses, Proprietary Claims, Receivership
Civil Procedure Insolvency Banking Law Freezing Orders Living Expenses Legal Expenses Proprietary Claims Receivership

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Parties

JSC BTA Bank

Claimant

Mukhtar Ablyazov

Defendant

Madiyar Ablyazov

Applicant/intervener

EFG Private Bank Limited

Third Party

Procedural Posture

Commercial / Interlocutory Application for Access to Funds Pending Trial

Legal Issues

  1. 1 Whether Madiyar Ablyazov should be permitted to draw funds for living and legal expenses from the EFG London account pending determination of proprietary claims.

Ratio Decidendi

Madiyar Ablyazov failed to discharge the threshold burden of proving by full and frank evidence that he does not have access to other funds for living and legal expenses. Therefore, he is not permitted to draw on the EFG London account pending trial.

Court Disposition

application dismissed

Orders

  • Madiyar Ablyazov's application to access funds in the EFG London account for living and legal expenses is dismissed.