On 19 October 2017, and following a string of prior successes for the Bank of Moscow (see http://www.pcblitigation.com/media/cracking-down-on-defendants-further-ground-breaking-orders-obtained-by-pcb-litigation/ and http://www.pcblitigation.com/media/no-place-safe-to-hide-for-russian-debtors/), PCB Litigation has obtained a rare maximum two-year prison sentence against Russian judgment debtor Andrey Chernyakov. The sentence was handed down for several contempts of Court by Mr Chernyakov arising out of breaches of worldwide freezing and related asset disclosure orders against him. Mr Chernyakov’s wife, Anastasia Erokhova, was also sentenced to a significant period of imprisonment for similar breaches.
The decision also confirms that the standard Commercial Court injunction wording covers not only assets beneficially owned by the subject of a freezing order, but also assets directly or indirectly controlled by that person, and therefore that it can extend to the assets of a company of which the respondent is the sole shareholder.
Jon Felce, the PCB Litigation Partner with primary conduct of the committal proceedings, stated: “The decision in this case serves to re-emphasise that the English Courts treat compliance with worldwide freezing and asset disclosure orders extremely seriously, and that the flagrant flouting of such orders will not be tolerated.”
PCB Litigation acts for the Bank of Moscow. The team consists of Anthony Riem, Nick Ractliff and Jon Felce of PCB Litigation, together with Counsel Tim Penny QC and Tim Akkouh.