Public Joint Stock Company Vseukrainskyi Aktsionernyi Bank v Maksimov and Others 2014 EWHC 3771 Comm - 17 November 2014
Country
Year
2014
Summary
The Claimant Bank ("the Bank") applies to commit the First Defendant ("Mr Maksimov") to prison for contempt of court in breaching worldwide freezing orders made by Cooke J dated 16 January 2013 ("the Cooke Order") and Field J dated 2 May 2013 ("the Field Order"). The Cooke and Field Orders (and subsequent confirmatory return date orders) were granted pursuant to Section 44 of the Arbitration Act 1996 in support of the Bank's LCIA arbitral claim against Mr Maksimov for approximately US$ 200 million for alleged breach of a Framework Agreement. A full arbitration hearing on the merits took place over 3 days in January 2014, final submissions were completed in May 2014 and an award is awaited.