Significant Chancery Division judgment on the asset freezing measures in UK Russia sanctions

In long-running fraud and bankruptcy proceedings, Vneshprombank LLC v Bedzhamov, Kireeva v Bedzhamov [2024] EWHC 1048 (Ch), Mrs Justice Cockerill and Master Kaye refused Mr Bedzhamov’s application for declaratory relief, holding that “reasonable cause to suspect” an entity is owned or controlled by a designated person is not the correct test for triggering the asset freezing measures under the Russia (Sanctions) (EU Exit) Regulations 2019.

The Judgment can be found here 

Rachel Barnes KC appeared for the Trustee (Ms Kireeva), instructed by Patrick Elliot of DCQ Legal.

26th June 2024

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