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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 Mezhdunarodniy Promyshlenniy Bank & Anor v Pugachev [2016] EWHC 192 (Ch) (08 February 2016)
URL: http://www.bailii.org/ew/cases/EWHC/Ch/2016/192.html
Cite as: [2016] EWHC 192 (Ch)

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[Much of this evidence was heard in private and has therefore been redacted from this judgment]

Neutral Citation Number: [2016] EWHC 192 (Ch)
Case No: HC-2014-000262

IN THE HIGH COURT OF JUSTICE
CHANCERY DIVISION

Royal Courts of Justice Strand,
London, WC2A 2LL
08/02/2016

B e f o r e :

MRS JUSTICE ROSE
____________________

Between:
(1) JSC MEZHDUNARODNIY PROMYSHLENNIY BANK
(2) STATE CORPORATION "DEPOSIT INSURANCE AGENCY"
 Applicants
- and –
SERGEI VIKTOROVICH PUGACHEV
 Defendant

____________________

Stephen Smith QC, Ben Griffiths, Anna Scharnetzky (instructed by Hogan Lovells International LLP) for the Applicants
Stuart Isaacs QC, Nicholas Cherryman and Moeiz Farhan (instructed by King & Spalding International LLP) for the Defendant

Hearing dates: 8, 9, 10, 11, 15 and 22 December 2015
____________________

HTML VERSION OF JUDGMENT
____________________

Crown Copyright ©

    Contents
      Page
    The background to the claim 4
    The law 14
    Mr Pugachev's evidence 15
    Allegation A1: Mr Pugachev failed to deliver up his French passport 17
    Allegation A2: Mr Pugachev left the jurisdiction in breach of the court- imposed travel restriction 23
    Allegation A3: Mr Pugachev failed to identify and deliver up further travel documents 28
    Allegation B1: Mr Pugachev procured and/or permitted the transfer of shares in LLC Petrovka-Rent held by Limebury Investments Ltd to another company 29
    Allegation B2: Mr Pugachev removed or alternatively procured or permitted the removal of the Motor Vessel Victoria 33
    Allegation B3: Mr Pugachev dealt with the proceeds of sale of Financiere Hediard 36
    Allegation B4: Mr Pugachev sold two motor cars 40
    Allegation B5: Mr Pugachev disposed of part of the proceeds of any recoveries from his Bilateral Investment Treaty arbitration claim 42
    Allegation C1: Mr Pugachev failed to deliver up mobile devices, namely an iPad and a mobile phone 46
    Allegation C2: Mr Pugachev failed to provide passwords to email accounts 49
    Allegation D1: Mr Pugachev failed to set out to the best of his ability and having made all reasonable enquiries what happened to $500 million transferred to Safelight Enterprises Ltd 50
    Allegation D2: Mr Pugachev failed to set out to the best of his ability and having made all reasonable enquiries what happened to RUR3.4 billion which was transferred from Creative Associates Services Ltd into an account in Mr Pugachev's name 55
    Allegation D3: Mr Pugachev failed to set out to the best of his ability and having made all reasonable enquiries what happened to $146.7 million transferred from Devecom Ltd to Basterre Business Corporation 57
    Allegation E1: Mr Pugachev gave false evidence in respect of EPK and Basterre 59
    Allegation E2: Mr Pugachev gave false evidence in respect of Safelight and Oreon 64
    Allegation E3: Mr Pugachev gave false evidence in respect of Creative 65
    Allegation E4: Mr Pugachev gave false evidence in respect of his impecuniosity during his submissions to Hildyard J 66

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URL: http://www.bailii.org/ew/cases/EWHC/Ch/2016/192.html