Gareth Keillor and Tom Brown review the test for establishing the existence of assets for freezing injunctions ‘The court does not wish to act for no reason, so will not grant an order if there are no assets upon which the injunction could bite.’ In the recent case of Ras Al Khaimah Investment Authority v …
Continue reading "Injunctions: Glacial globe trotting"
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Rory Brown examines the principles governing freezing injunctions ‘The lesson for practitioners seeking freezing injunctions (FIs) is to pay special care to target selection, both in terms of respondents and the property which is the proposed subject matter of the order.’ There are seven principles that govern, or should govern, the jurisdiction of the court …
Continue reading "Injunctions: Cold comfort"
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Gwendoline Davies and Andrew Beck review recent cases on freezing orders and provide some practical advice ‘Freezing orders are obviously highly restrictive, but they should not be used oppressively. Respondents should not be forced to cease trading and they should be allowed to meet reasonable expenses.’A freezing order is an interim injunction which restrains a …
Continue reading "Freezing Orders: Coming in from the cold"
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Wills & Trusts Law Reports | July/August 2015 #151In the early 1990s, Mr Pugachev founded the JSC Mezhdunarodniy Promyshlenniy Bank (the bank) in Russia. It became one of Russia’s largest privately owned commercial banking groups. On 4 October 2010, the Russian Central Bank revoked its banking licence and appointed a ‘temporary administration’ and on 30 November 2010 it was declared insolvent by the Russian court and placed into temporary administration. The state corporation ‘Deposit Insurance Agency’ (the DIA) was appointed as liquidator. Mr Pugachev left Russia for London in 2011. The Russian liquidation of the bank was recognised by...
Andrew Keltie, Henry Garfield and Andrew Matheson review recent case law on contempt Allegations of contempt often require the applicant to prove to the criminal standard of proof that an individual has lied or deliberately misled the court. The Court of Appeal recently had some damning words for Kazakh businessman Mukhtar Ablyazov in his unsuccessful …
Continue reading "Contempt Of Court: All bark and no bite?"
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