The Republic of Angola & Anor v Perfectbit Ltd & Ors [2018] EWHC 965 (Comm) (26 April 2018)

The Republic of Angola & Anor v Perfectbit Ltd & Ors [2018] EWHC 965 (Comm) (26 April 2018)

The court held that the Claimants established a strong prima facie case of fraud and proprietary claim, and that there was a real risk of dissipation of assets justifying the continuation of the proprietary injunction and worldwide freezing orders. The Defendants' challenges on jurisdiction, alleged non-disclosure,...

Source-derived case information.

Citation
[2018] EWHC 965 (Comm)
Parties
Claimant: The Republic of Angola (acting by and through the Ministry of Finance of Angola); Claimant: Banco Nacional de Angola; Defendant: Perfectbit Limited; Defendant: Mais Financial Services SA; Defendant: MFS & Resource Project Partnership Limited; Defendant: Resource Conversion PLC; Defendant: Samuel Barbosa de Cunha; Defendant: Hugo Anthonie Folke Godfried Reinier Onderwater; Defendant: Jorge Gaudens Pontes Sebastiao; Defendant: Kerfala Soumah
Jurisdiction
England and Wales
Judgment Date
26 April 2018
Procedural Posture
Commercial Court Proceedings (fraud, Proprietary and Personal Claims) / Interlocutory Applications (return Date Hearing for Injunctions, Jurisdiction, Discharge, and Stay)
Outcome
Applications by Defendants to discharge injunctions, challenge jurisdiction, and seek a stay dismissed; Claimants' application for continuation of interim relief granted.
Legal Topics
Worldwide Freezing Orders, Proprietary Injunctions, Jurisdiction Challenge, Full and Frank Disclosure, Asset Tracing, Restitution, Conspiracy, Deceit
Commercial Law Fraud Civil Procedure Injunctions Worldwide Freezing Orders Proprietary Injunctions Jurisdiction Challenge Full and Frank Disclosure +4 more

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Parties

The Republic of Angola (acting by and through the Ministry of Finance of Angola)

Claimant

Banco Nacional de Angola

Claimant

Perfectbit Limited

Defendant

Mais Financial Services SA

Defendant

MFS & Resource Project Partnership Limited

Defendant

Resource Conversion PLC

Defendant

Samuel Barbosa de Cunha

Defendant

Hugo Anthonie Folke Godfried Reinier Onderwater

Defendant

Jorge Gaudens Pontes Sebastiao

Defendant

Kerfala Soumah

Defendant

Procedural Posture

Commercial Court Proceedings (fraud, Proprietary and Personal Claims) / Interlocutory Applications (return Date Hearing for Injunctions, Jurisdiction, Discharge, and Stay)

Legal Issues

  1. 1 Whether the English court has jurisdiction over the Second and Seventh Defendants
  2. 2 Whether the proprietary injunction and worldwide freezing orders should be discharged for alleged non-disclosure or lack of risk of dissipation
  3. 3 Whether the Claimants breached their duty of full and frank disclosure

Ratio Decidendi

The court held that the Claimants established a strong prima facie case of fraud and proprietary claim, and that there was a real risk of dissipation of assets justifying the continuation of the proprietary injunction and worldwide freezing orders. The Defendants' challenges on jurisdiction, alleged non-disclosure, and lack of risk of dissipation were rejected. The court found no material breach of the duty of full and frank disclosure by the Claimants. Unless orders previously made against certain Defendants for disclosure failures were upheld. The interim relief was continued, and the applications to discharge or stay were dismissed.

Court Disposition

Applications by Defendants to discharge injunctions, challenge jurisdiction, and seek a stay dismissed; Claimants' application for continuation of interim relief granted.

Orders

  • Continuation of proprietary injunction and worldwide freezing orders against relevant Defendants
  • Unless orders for disclosure against Resource Conversion and Dr Barbosa upheld