JSC Mezhdunarodniy Promyshlenniy Bank & anr v Pugachev & ors [2014] EWHC 3547 (Ch)

Wills & Trusts Law Reports | March 2015 #147

This concerned an application by the trustees of five discretionary trusts of which the defendant was a discretionary object. The defendant was the founder of the first claimant, a Russian bank (the bank). The bank had subsequently gone into administration and the second claimant, a Russian state organisation (the DIA), had been appointed as its liquidator. The DIA sought to enforce various claims against the defendant in Russian and English proceedings. The sums involved were in the order of $2.2bn.

At a hearing before Henderson J on 11 July 2014 a freezing order was made agains...