September 21 2018

Deutsche Bank AG v Mr Alexander Vik [2018] EWCA Civ 2011 This judgment is the latest instalment in the long-running litigation between Deutsche Bank (“DB”) and the Monaco-based billionaire, Alexander Vik.   In 2008, Mr Vik’s personal investment vehicle, Sebastian Holdings, Inc. (“SHI”), incurred huge debts to DB after it made a series of heavily loss making FX trades....

One Essex Court shortlisted for Chambers Bar Awards: 2018

September 14 2018

We are delighted to have been shortlisted for Set of the Year in both Banking and Commercial Litigation at this year’s Chambers Bar Awards, taking place on 25 October 2018. In addition, a number of members of chambers received individual nominations, including Alex Polley (Commercial Litigation Junior), Conall Patton (Competition Junior), Laurence Rabinowitz QC (International Arbitration...

Commercial Court discharges $3 billion freezing order in relation to Angolan sovereign wealth fund

August 16 2018

On 16 August 2018, Mr Justice Popplewell discharged a $3 billion proprietary and freezing injunction (“WFO”) against the Defendants, Mr José Dos Santos, Mr Jean-Claude Bastos de Morais (“Mr Bastos”), and the Quantum Global group of companies.  This is a very important judgment on the requirements for freezing orders, especially the duty of full and frank disclosure...

Third party debt order discharged for lack of jurisdiction over debt situated in India

July 27 2018

This judgment of Deputy Judge Peter MacDonald Eggers QC contains a detailed analysis of the law in relation to third party debt orders and in particular, the requirement that the debt in question be situated within the jurisdiction. Pursuant to a third party debt order, the third party is required to pay the debt it owes to the judgment debtor, to the judgment creditor instead. The third party’s...