Navigator Equities Limited & Anor v Oleg Vladimirovich Deripaska

Navigator Equities Limited & Anor v Oleg Vladimirovich Deripaska

The claimants failed to prove to the criminal standard that the effect of re-domiciliation of EN+ Group PLC from Jersey to Russia was the automatic cancellation of the shares subject to the undertakings. As such, no breach of the undertakings was established and the contempt application must fail.

Parties
Claimant: Navigator Equities Limited; Claimant: Vladimir Anatolevich Chernukhin; Defendant: Oleg Vladimirovich Deripaska
Jurisdiction
England and Wales
Judgment Date
05 April 2023
Procedural Posture
Contempt Application / Trial of Liability Issues on Contempt Application
Outcome
Application dismissed
Legal Topics
Contempt of Court, Enforcement of Arbitral Awards, Interpretation of Undertakings, Foreign Company Re Domiciliation
Civil Procedure Arbitration Company Law Contempt of Court Enforcement of Arbitral Awards Interpretation of Undertakings Foreign Company Re Domiciliation

Case Brief

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Parties

Navigator Equities Limited

Claimant

Vladimir Anatolevich Chernukhin

Claimant

Oleg Vladimirovich Deripaska

Defendant

Procedural Posture

Contempt Application / Trial of Liability Issues on Contempt Application

Legal Issues

  1. 1 Whether the defendant breached undertakings to the court by procuring or permitting B-Finance to vote in favour of re-domiciliation of EN+ Group PLC from Jersey to Russia
  2. 2 Whether such breach, if any, was contumelious (deliberate)
  3. 3 Whether the effect of re-domiciliation was the automatic cancellation of shares subject to the undertakings

Ratio Decidendi

The claimants failed to prove to the criminal standard that the effect of re-domiciliation of EN+ Group PLC from Jersey to Russia was the automatic cancellation of the shares subject to the undertakings. As such, no breach of the undertakings was established and the contempt application must fail.

Court Disposition

Application dismissed

Orders

  • Contempt application dismissed