DEUTSCHE BANK AG v SEBASTIAN HOLDINGS, INC & Anor

DEUTSCHE BANK AG v SEBASTIAN HOLDINGS, INC & Anor

Mr Vik was found to have deliberately given false evidence at the Part 71 hearing regarding his knowledge and control of the assets of Beatrice, the Trust, the Devon Park Interest, and the IFA Shares. He was also found to have deliberately failed to produce electronic documents and third-party documents responsive to the CPR 71 Order. The court was satisfied beyond reasonable doubt that Mr Vik knew of the order, breached it, and knew the facts making his conduct a breach. His explanations were found not credible, and the circumstantial evidence, including contemporaneous documents and his conduct, established contempt.

Parties
Claimant/applicant: Deutsche Bank AG; Defendant: Sebastian Holdings, Inc; Respondent/defendant for Costs Purposes Only: Mr Alexander Vik
Jurisdiction
England and Wales
Judgment Date
24 June 2022
Procedural Posture
Committal Application (contempt of Court) / Judgment After Full Hearing
Outcome
Application for committal for contempt allowed; Mr Vik found in contempt of court.
Legal Topics
Committal for Contempt, Disclosure Obligations, False Evidence, Enforcement of Judgments
Civil Procedure Contempt of Court Banking and Finance Committal for Contempt Disclosure Obligations False Evidence Enforcement of Judgments

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Parties

Deutsche Bank AG

Claimant/applicant

Sebastian Holdings, Inc

Defendant

Mr Alexander Vik

Respondent/defendant for Costs Purposes Only

Procedural Posture

Committal Application (contempt of Court) / Judgment After Full Hearing

Legal Issues

  1. 1 Whether Mr Vik was in contempt of court for giving false evidence and failing to disclose documents as required by a court order
  2. 2 Whether Mr Vik deliberately failed to provide truthful information about assets and failed to produce documents within his control

Ratio Decidendi

Mr Vik was found to have deliberately given false evidence at the Part 71 hearing regarding his knowledge and control of the assets of Beatrice, the Trust, the Devon Park Interest, and the IFA Shares. He was also found to have deliberately failed to produce electronic documents and third-party documents responsive to the CPR 71 Order. The court was satisfied beyond reasonable doubt that Mr Vik knew of the order, breached it, and knew the facts making his conduct a breach. His explanations were found not credible, and the circumstantial evidence, including contemporaneous documents and his conduct, established contempt.

Court Disposition

Application for committal for contempt allowed; Mr Vik found in contempt of court.

Orders

  • Mr Vik found guilty of contempt for giving false evidence and failing to disclose documents as required by the CPR 71 Order.
  • Further directions and sentencing to be determined.