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England and Wales High Court (Chancery Division) Decisions
You are here: BAILII >> Databases >> England and Wales High Court (Chancery Division) Decisions >> JSC Commercial Bank PrivatBank v Kolomoisky & Ors  EWHC 165 (Ch) (31 January 2023)
Cite as:  EWHC 165 (Ch)
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BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES
BUSINESS LIST (ChD)
Fetter Lane, London, EC4A 1NL
B e f o r e :
| JSC COMMERCIAL BANK PRIVATBANK
|- and –
|(1) IGOR VALERYEVICH KOLOMOISKY
(2) GENNADIY BORISOVICH BOGOLYUBOV
(3) TEAMTREND LIMITED
(4) TRADE POINT AGRO LIMITED
(5) COLLYER LIMITED
(6) ROSSYN INVESTING CORP
(7) MILBERT VENTURES INC
(8) ZAO UKRTRANSITSERVICE LTD
Michael Bools KC and Geoffrey Kuehne (instructed by Fieldfisher LLP) for the First Defendant
Clare Montgomery KC and Alyssa Stansbury (instructed by Enyo Law LLP) for the Second Defendant
Hearing date: 25 January 2023
Crown Copyright ©
Remote hand-down: This judgment will be handed down remotely by circulation to the parties or their representatives by email and release to The National Archives. A copy of the judgment in final form as handed down should be available on The National Archives website shortly thereafter but can otherwise be obtained on request by email to the Judicial Office (email@example.com). The deemed time and date of hand down is 10.30am on Tuesday 31 Jan 2023.
Mr Justice Trower :
"5. By 4.30pm on 28 February 2022, the First Defendant and Second Defendant shall each file and serve a witness statement which shall set out [(insofar as they are able after having made all reasonable enquiries)]:
5.1. Details of any dividends, distributions or other income paid [to the First or Second Defendant (or paid to a third party on their behalf)] in respect of their interests in the companies and assets listed at Annex B of this Order since 21 December 2017 (including (i) the amount of any payment, (ii) the nature of the payment; and (iii) the date on which the payment was made);
Provided that the First and Second Defendants shall not be obliged to disclose under this sub-paragraph any dividends, distributions or other income received in relation to any company or asset where the cumulative amount of such payments since 21 December 2017 has been less than £1 million (or its local equivalent).
5.2. Details of any bank account [the credit balance of which is an asset (as defined by paragraph 4 of the WFO)] of the First and/or Second Defendant and which has a credit balance exceeding £1 million (or its local equivalent) as at 9 September 2022. The details shall include (i) the credit balance as at 9 September 2022, (ii) the name(s) in which the account is held, (iii) the account number, and (iv) the name and address of the bank. …"
"the fact that the defendants are complying at present does not mean that they will necessarily continue to do so in future, in particular as any judgment approaches, at all events if they perceive the case to be going against them. At present it may be that any such judgment is certainly many months and perhaps even years away, but the defendants may see the benefits of compliance with the order very differently as time goes by from the way that they now do."
"In summary, so far as non-trading companies owned or controlled by the respondent are concerned, the respondent is prohibited from procuring or permitting them to dispose of or deal with their assets up to the specified maximum sum; their assets are treated as his assets, but subject to prior notification they may be disposed of or dealt with "in the ordinary and proper course of business."
"For the purpose of this order the [first defendant's] assets include any asset which he has the power, directly or indirectly, to dispose of or deal with as if it were his own. The [first defendant] is to be regarded as having such power if a third party (which shall include a [NTC] and a trustee, but not a trading company) holds or controls the asset in accordance with his direct or indirect instructions."
" I can be brief in this context: the test is in effect whether the court is satisfied that further evidence is necessary in order to make the freezing order more effective.
 As it seems to me, the court must be persuaded that there is practical utility in requiring such evidence and that it is necessary to enable the freezing order properly to be policed. It will be vigilant to prevent the abuse of seeking further evidence for some other purpose: such as to expose further inconsistencies, unduly pressurise a defendant who has already been cross-examined, yield ammunition for an application for contempt, or provide further material which might be of assistance, even if not actually deployed, in the main (foreign) proceedings.
 I consider also that the court must be satisfied that a yet further round of evidence is proportionate."