Magomedov & Ors v TPG Group Holdings (SBS), LP & Ors [2023] EWHC 2655 (Comm) (27 October 2023)

Magomedov & Ors v TPG Group Holdings (SBS), LP & Ors [2023] EWHC 2655 (Comm) (27 October 2023)

The court held that the claimants established a good arguable case in relation to at least some aspects of the conspiracy allegations against certain defendants, and that there was sufficient evidential basis to justify the grant of notification injunctions and worldwide freezing orders against specified defendants, applying established principles for interim relief in commercial disputes involving risk of asset dissipation.

Citation
[2023] EWHC 2655 (Comm)
Parties
Claimant: Ziyavudin Magomedov; Claimant: SGS Universal Investment Holdings Limited; Claimant: Intimere Holdings Limited; Claimant: Hellicorp Investments Limited; Claimant: Sian Participation Corp (in liquidation); Claimant: Maple Ridge Limited; Claimant: Wiredfly Investments Limited; Claimant: Smartilicious Consulting Limited; Claimant: Enviartia Consulting Limited; Claimant: Port-Petrovsk Limited; Defendant: TPG Group Holdings (SBS), LP; Defendant: TPG Partners VI, LP; Defendant: TPG FOF VI SPV, LP; Defendant: TPG Partners VI-AIV, LP; Defendant: TPG VI Management, LLC; Defendant: TPG Advisors VI, Inc; Defendant: TPG Advisors VI-AIV, Inc; Defendant: Domidias Limited; Defendant: Halimeda International Limited; Defendant: Leyla Mammad Zade; Defendant: Mikhail Rabinovich; Defendant: Ermenossa Investments Limited; Defendant: Konstantin Kuzovkov; Defendant: Felix LP; Defendant: Andrey Severilov; Defendant: Katina Papanikolaou; Defendant: State Atomic Energy Corporation Rosatom; Defendant: DP World Russia FZCO; Defendant: PJSC Far-Eastern Shipping Company; Defendant: PJSC Transneft; Defendant: Mark Garber; Defendant: Garber Hannam & Partners LLC
Jurisdiction
England and Wales
Judgment Date
27 October 2023
Procedural Posture
Commercial Court Application for Interim Injunctions / Interim Application for Notification Injunctions and Worldwide Freezing Orders
Outcome
Interim notification injunctions and worldwide freezing orders granted against specified defendants; application otherwise adjourned or dismissed as appropriate.
Legal Topics
Freezing Injunctions, Notification Injunctions, Unlawful Means Conspiracy, Jurisdiction, Asset Dissipation, Cross Border Enforcement
Commercial Law Civil Procedure Freezing Injunctions Notification Injunctions Unlawful Means Conspiracy Jurisdiction Asset Dissipation Cross Border Enforcement

Case Brief

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Parties

Ziyavudin Magomedov

Claimant

SGS Universal Investment Holdings Limited

Claimant

Intimere Holdings Limited

Claimant

Hellicorp Investments Limited

Claimant

Sian Participation Corp (in liquidation)

Claimant

Maple Ridge Limited

Claimant

Wiredfly Investments Limited

Claimant

Smartilicious Consulting Limited

Claimant

Enviartia Consulting Limited

Claimant

Port-Petrovsk Limited

Claimant

TPG Group Holdings (SBS), LP

Defendant

TPG Partners VI, LP

Defendant

TPG FOF VI SPV, LP

Defendant

TPG Partners VI-AIV, LP

Defendant

TPG VI Management, LLC

Defendant

TPG Advisors VI, Inc

Defendant

TPG Advisors VI-AIV, Inc

Defendant

Domidias Limited

Defendant

Halimeda International Limited

Defendant

Leyla Mammad Zade

Defendant

Mikhail Rabinovich

Defendant

Ermenossa Investments Limited

Defendant

Konstantin Kuzovkov

Defendant

Felix LP

Defendant

Andrey Severilov

Defendant

Katina Papanikolaou

Defendant

State Atomic Energy Corporation Rosatom

Defendant

DP World Russia FZCO

Defendant

PJSC Far-Eastern Shipping Company

Defendant

PJSC Transneft

Defendant

Mark Garber

Defendant

Garber Hannam & Partners LLC

Defendant

Procedural Posture

Commercial Court Application for Interim Injunctions / Interim Application for Notification Injunctions and Worldwide Freezing Orders

Legal Issues

  1. 1 Whether the claimants have a good arguable case for unlawful means conspiracy against the respondent defendants
  2. 2 Whether there is a real risk of dissipation of assets justifying the grant of freezing or notification injunctions
  3. 3 Whether it is just and convenient to grant the interim relief sought

Ratio Decidendi

The court held that the claimants established a good arguable case in relation to at least some aspects of the conspiracy allegations against certain defendants, and that there was sufficient evidential basis to justify the grant of notification injunctions and worldwide freezing orders against specified defendants, applying established principles for interim relief in commercial disputes involving risk of asset dissipation.

Court Disposition

Interim notification injunctions and worldwide freezing orders granted against specified defendants; application otherwise adjourned or dismissed as appropriate.

Orders

  • Notification injunctions granted against Halimeda International Limited, State Atomic Energy Corporation Rosatom, PJSC Far-Eastern Shipping Company, and PJSC Transneft (application against Transneft adjourned)
  • Worldwide freezing orders granted against Mikhail Rabinovich, Ermenossa Investments Limited, Konstantin Kuzovkov, Andrey Severilov, Mark Garber, and Garber Hannam & Partners LLC