“Cracking” down on defendants: further ground-breaking orders obtained by PCB Litigation

Posted on: May 10th, 2017

Hot on the heels of successfully obtaining the first reasoned judgment concerning the jurisdiction to grant a search order against a third party – see here – PCB Litigation has obtained two further ground-breaking orders which will substantially add to the weapons available to victims of fraud seeking to recover assets.

The background is set out in our update of 28 November 2016 – see here – when Russian Judgment debtor Andrey Chernyakov was forced to allow bailiffs to enter his London homes to search for and seize his assets.

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May 2017

Posted on: May 8th, 2017

PCB Litigation is advising in relation to a significant bitcoin dispute.

PCB Litigation has been retained to act for a company holding valuable oil and gas interests, which were the subject of a transfer that is being disputed in the Commercial Court.
An article in Legal Futures, based on a report released by Premonition, names PCB Litigation as one of 7 law firms to have a 100% success rate in the Chancery Division of the High Court over the last 3 years (minimum 5 cases). The Chancery Division hears a variety of cases including those involving fraud, company and trust disputes and insolvency cases, areas in which PCB Litigation is very active.

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April 2017

Posted on: April 21st, 2017

PCB Litigation has been instructed on behalf of a Bank to pursue claims in respect of a loan which was obtained by fraud.

PCB Litigation has been instructed to advise a major UK company in relation to various contractual and other issues arising out of a share sale agreement.
PCB Litigation has been instructed to bring claims arising out of the collapse of a property investment.
PCB Litigation has been instructed to defend claims in relation to an international joint venture dispute
PCB Litigation has been instructed in relation to a multi-million dollar investment and property dispute involving a factory and its relocation.

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First ever search order against a third party granted: the Chabra moment for search orders

Posted on: March 7th, 2017

Amongst the wide array of tools available in the English Courts for intended and actual claimants are what have been described as the law’s two nuclear weapons, freezing injunctions and search orders. Since the seminal case of Chabra, Courts have been willing to grant freezing orders not just against defendants, but against third parties against whom no claim is advanced but who appear to hold assets on behalf of the defendant. Yet in the quarter of a century since Chabra, and until very recently, no case seems to have tried to use the search order jurisdiction in a similar way.

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March 2017

Posted on: March 6th, 2017

PCB obtains first ever search order against a third party: see here for details

PCB Litigation has been retained to act for a major European State Bank in a multi $million asset recovery case involving several jurisdictions.

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February 2017

Posted on: February 3rd, 2017

PCB Litigation are advising on the recovery of $1billion African fraud

Steven Philippsohn has been included in The Thought Leaders section of the Who’s Who Legal website – see here

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New European regime for preserving accounts

Posted on: January 18th, 2017

Today, EU Regulation No 655/2014 of 15 May 2014 (“the Regulation”) takes effect. It establishes a European Account Preservation Order (“EAPO”) procedure with the purpose of facilitating cross-border debt recovery in civil and commercial matters.

It is intended to operate as an alternative to domestic remedies, by allowing certain creditors in one participating Member State to freeze a debtor’s assets located in bank accounts in another participating Member State without first obtaining a court order within that state.

Applications can be made prior to commencing proceedings without notice to the debtor (as well as during proceedings and after judgment) and may give creditors the chance to obtain information about debtors’ bank accounts.

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January 2017

Posted on: January 13th, 2017

PCB Litigation have been retained by a European pension fund who are the alleged victim of a $multimillion investment fraud.

PCB Litigation have been retained by Middle Eastern clients in relation to a major insurance fraud.

Steven Philippsohn was quoted in The Times on “After last year’s dramas, what lies ahead?”

Mr Philippsohn was one of a number of leading lawyers asked by the Times to comment on what to expect in 2017, identifying regulatory compliance as ever more important: “2017 is likely to see increased corporate responsibility ‎for prevention of financial crime.

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December 2016

Posted on: December 6th, 2016

PCB Litigation has been retained to act for the victims of a huge Ponzi scheme. Numerous jurisdictions are involved.

PCB Litigation is advising an Indian national on a pension fraud.

PCB Litigation is advising on a $500m multi jurisdictional Bank Fraud.

Steven Philippsohn will be addressing Shanghai and Beijing litigators later this week on international asset recovery strategies.

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No place safe to hide for Russian debtors

Posted on: November 28th, 2016

Last week, Russian Judgment debtor Andrey Chernyakov was forced to allow bailiffs to enter his London homes to search for and seize his assets. The Bank of Moscow had at the end of October obtained a £195m judgment against Mr Chernyakov. Mr Chernyakov had already been the subject of worldwide freezing orders. When the Bank sought to enforce by sending in the bailiffs, Mr Chernyakov refused them entry to his homes. Urgent relief was obtained within a matter of hours, permitting the bailiffs to use reasonable force to enter the homes that same day.

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