Representation of Standish and Others [2012] JRC 072 (29 March 2012)

Representation of Standish and Others [2012] JRC 072 (29 March 2012)

There is sufficient evidence to suspect Mr Ablyazov is the true UBO of Eurasia Logistics, and the risk of asset dissipation justifies compelling Eurasia Logistics and Nautilus to provide information and comply with ancillary orders, notwithstanding their records or confidentiality concerns.

Citation
[2012] JRC 072
Parties
Applicant: The Receivers; First Respondent: Eurasia Logistics; Second Respondent: Nautilus
Jurisdiction
Jersey
Judgment Date
29 March 2012
Procedural Posture
Application for Disclosure and Ancillary Orders in Receivership Context / Post Appointment, Further Application for Information and Ancillary Relief
Outcome
Application granted
Legal Topics
Receivership, Disclosure Orders, Beneficial Ownership, Freezing Orders, Contempt of Court
Insolvency Asset Recovery Trusts and Equity Receivership Disclosure Orders Beneficial Ownership Freezing Orders Contempt of Court

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Parties

The Receivers

Applicant

Eurasia Logistics

First Respondent

Nautilus

Second Respondent

Procedural Posture

Application for Disclosure and Ancillary Orders in Receivership Context / Post Appointment, Further Application for Information and Ancillary Relief

Legal Issues

  1. 1 Whether Eurasia Logistics and Nautilus should be compelled to provide information about Eurasia Logistics to the Receivers
  2. 2 Whether ancillary orders restraining dealings with assets and requiring reporting to the Receivers should be granted

Ratio Decidendi

There is sufficient evidence to suspect Mr Ablyazov is the true UBO of Eurasia Logistics, and the risk of asset dissipation justifies compelling Eurasia Logistics and Nautilus to provide information and comply with ancillary orders, notwithstanding their records or confidentiality concerns.

Court Disposition

Application granted

Orders

  • Eurasia Logistics and Nautilus must provide the requested information to the Receivers within 7 days.
  • Eurasia Logistics and Nautilus must not take any steps or act on any instructions regarding dealings with Eurasia Logistics or other Receivership companies/assets/documents without the Receivers' express written consent.