BTA v Ablyazov


Reference:
[2012] EWHC 237 (Comm)

Date:
16th February 2012

Court:
Commercial Court

Facts:

The Bank claimed sums in excess of $6 billion from the Defendant in 7 parallel sets of proceedings in the Commercial Court and Chancery Division alleging substantial fraudulent misappropriation of funds by its former managing director and his associates.

 


Judge:
Teare J

Comment:

The Bank applied for the committal for contempt of Court of its former managing director, Mr Ablyazov, on the basis of numerous breaches of freezing and receivership orders granted over his property. After a sample trial of 4 allegations held over 3 weeks, the Court found to the criminal standard that Mr Ablyazov had dealt with assets in breach of the freezing and receivership orders, lied about his assets and failed to disclose assets. Caley acted as junior on the trial.



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