Wills & Trusts Law Reports | March 2015 #147This 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...
Nicola Bridge and Michael Ward explore the use and usefulness of freezing orders ‘It is important for practitioners to always keep abreast of such judicial commentary; not least because the pro forma freezing orders found in the Practice Direction to Part 25 and the Court Guides can differ, and are not themselves immune from criticism.’Freezing …
Continue reading "CPR: Coming in from the cold"
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James Thackray considers recent cases about freezing orders ‘Practitioners would be well advised to carefully consider the exact formulation of the freezing order sought on the initial application; consider if your client might need to seek disclosure of trust assets held by the defendant and how to ensure the additional wording is included in the …
Continue reading "Enforcement: Increasing use of judicial discretion?"
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