England and Wales High Court (Chancery Division) Decisions

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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
____________________

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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