Henshaw J has dismissed the Kazakhstan Kagazy claimants’ attempt to summarily obtain final charging orders against two prime London properties worth around £38 million owned by various trust companies. He held that breaches of an order alleged by the Claimants to have happened had not in fact occurred, and that even if they had occurred they were not serious or significant. He further stated that if and to the extent that relief from sanctions were required, it should in his view be granted. The matter will now proceed to trial. The charging order application, together with a separate tracing/s.423 Insolvency Act 1986 claim, are enforcement proceedings regarding a c. $300 million judgment in the long-running Kazakhstan Kagazy civil fraud litigation.
Joe-han Ho and Rebecca Drake (led by William McCormick QC of Selborne Chambers) are instructed by Robert Dougans of Preiskel & Co and act for various trust companies who are respondents in the proceedings. See here for the full judgment