PJSC Vseukrainskyi Aktsionernyi Bank v Maksimov & Ors

PJSC Vseukrainskyi Aktsionernyi Bank v Maksimov & Ors

Carlsbad's application to discharge the worldwide freezing injunction fails because the court has jurisdiction to grant and serve the injunction out of jurisdiction, the Bank has made out a good arguable case that Carlsbad is owned and controlled by Mr Maksimov and its assets are amenable to enforcement, it is just and convenient to maintain the injunction, and the Bank's non-disclosure was not material enough to justify discharge.

Parties
Claimant: PJSC Vseukrainskyi Aktsionernyi Bank; Defendant: Sergey Maksimov; Defendant: Carlsbad Enterprises Limited; Defendant: Second to Fourth Defendants (English registered companies)
Jurisdiction
England and Wales
Judgment Date
16 August 2013
Procedural Posture
Application to Discharge Worldwide Freezing Injunction / Ruling on Discharge Application
Outcome
Application to discharge freezing injunction dismissed
Legal Topics
Freezing Injunctions, Jurisdiction, Enforcement of Arbitral Awards, Material Non Disclosure, Privity of Interest, Abuse of Process
Civil Procedure Arbitration Commercial Law Freezing Injunctions Jurisdiction Enforcement of Arbitral Awards Material Non Disclosure Privity of Interest +1 more

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Parties

PJSC Vseukrainskyi Aktsionernyi Bank

Claimant

Sergey Maksimov

Defendant

Carlsbad Enterprises Limited

Defendant

Second to Fourth Defendants (English registered companies)

Defendant

Procedural Posture

Application to Discharge Worldwide Freezing Injunction / Ruling on Discharge Application

Legal Issues

  1. 1 Whether the court has jurisdiction to grant and serve a worldwide freezing injunction out of jurisdiction against Carlsbad Enterprises Limited
  2. 2 Whether Carlsbad's assets are owned or controlled by Mr Maksimov and amenable to enforcement
  3. 3 Whether it is just and convenient to maintain the injunction

Ratio Decidendi

Carlsbad's application to discharge the worldwide freezing injunction fails because the court has jurisdiction to grant and serve the injunction out of jurisdiction, the Bank has made out a good arguable case that Carlsbad is owned and controlled by Mr Maksimov and its assets are amenable to enforcement, it is just and convenient to maintain the injunction, and the Bank's non-disclosure was not material enough to justify discharge.

Court Disposition

Application to discharge freezing injunction dismissed

Orders

  • Worldwide freezing injunction against Carlsbad Enterprises Limited continues
  • Carlsbad's application to set aside Field J's order is refused