PJSC National Bank Trust & anr (respondents) v Mints & ors (appellants)

Monday 3 - Thursday 6 July 2023
Before The Chancellor of the High Court
Lord Justice Newey
Lord Justice Popplewell
By Appellant’s Notice filed on the 10 March 2023 against the decision of Mrs Justice Cockerill dated 27 January 2023 sitting in the Commercial Court.
The appeal arises out of the situation created by the Russian invasion of Ukraine. It calls into question the effects of that event on litigation in the Commercial Court. While the issues are raised in the context of this case, there are implications for a number of other pieces of litigation. The appeals are brought by the First to Fourth Defendants, and supported by the Sixth Defendant.
The litigation in this case was commenced in June 2019. The Claimants claim some US$850 million from some of the Defendants on the basis that the Defendants conspired with representatives of the Claimant banks to enter into uncommercial transactions with companies connected with the Defendants by which loans were replaced by worthless or near worthless bonds. They obtained freezing orders against some of the Defendants. The litigation was progressing towards trial at the time of the invasion.