Nederlandse Financierings-maatschappij Voor Ontwikkelingslanden N.V. v Société Bengaz S.A.

Nederlandse Financierings-maatschappij Voor Ontwikkelingslanden N.V. v Société Bengaz S.A.

The injunctions are continued against the defendants, with the first defendant granted liberty to apply to discharge the injunctions within six weeks without needing to show a change of circumstances. Fortification of the cross-undertaking in damages is required from the claimant in the sum of £300,000 by a first...

Source-derived case information.

Parties
Claimant: Nederlandse Financierings-maatschappij Voor Ontwikkelingslanden N. V.; Defendant: Société Bengaz S. A.
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Commercial Court Injunction Proceedings / Return Date Hearing Following Without Notice Injunctions
Outcome
Injunctions continued; liberty to apply to discharge granted to first defendant; fortification of cross-undertaking ordered.
Legal Topics
Freezing Injunction, Asset Disclosure, Cross Undertaking in Damages, Fortification of Cross Undertaking, Adjournment, Jurisdiction
Commercial Law Civil Procedure Freezing Injunction Asset Disclosure Cross Undertaking in Damages Fortification of Cross Undertaking Adjournment Jurisdiction

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Parties

Nederlandse Financierings-maatschappij Voor Ontwikkelingslanden N. V.

Claimant

Société Bengaz S. A.

Defendant

Procedural Posture

Commercial Court Injunction Proceedings / Return Date Hearing Following Without Notice Injunctions

Legal Issues

  1. 1 Whether to continue the freezing injunctions against the defendants
  2. 2 Whether to grant the first defendant liberty to apply to discharge the injunctions without showing change of circumstances
  3. 3 Whether to require fortification of the cross-undertaking in damages and in what amount

Ratio Decidendi

The injunctions are continued against the defendants, with the first defendant granted liberty to apply to discharge the injunctions within six weeks without needing to show a change of circumstances. Fortification of the cross-undertaking in damages is required from the claimant in the sum of £300,000 by a first class London bank guarantee or similar form, due to the risk of loss to the second defendant and the claimant's lack of assets in the jurisdiction.

Court Disposition

Injunctions continued; liberty to apply to discharge granted to first defendant; fortification of cross-undertaking ordered.

Orders

  • Injunctions against defendants continued.
  • First defendant granted liberty to apply to discharge injunctions within six weeks without showing change of circumstances.