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CFI 011/2018 Tatiana Mikhavilovna Akhmedova v (1) Farkhad Teimur Ogly Akhmedov (2) Straight Establishment

CFI 011/2018 Tatiana Mikhavilovna Akhmedova v (1) Farkhad Teimur Ogly Akhmedov (2) Straight Establishment

February 8, 2018

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Claim No: CFI 011/2018

          THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS

 

IN THE COURT OF FIRST INSTANCE

BEFORE HIS EXCELLENCY JUSTICE ALI AL MADHANI

 

BETWEEN

 

TATIANA MIKHAVILOVNA AKHMEDOVA

Applicant

v

FARKHAD TEIMUR OGLY AKHMEDOV

First Respondent

 

STRAIGHT ESTABLISHMENT

(a corporation incorporated in the Principality of Liechtenstein)

Second Respondent


FREEZING ORDER OF HIS EXCELLENCY JUSTICE ALI AL MADHANI


PENAL NOTICE 

IF YOU (1) FARKHAD TEIMUR OGLY AKHMEDOV OR (2) STRAIGHT ESTABLISHMENT DISOBEY THIS ORDER YOU MAY BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE IMPRISONED, FINED OR HAVE YOUR ASSETS SEIZED. 

ANY OTHER PERSON WHO KNOWS OF THIS ORDER AND DOES ANYTHIN WHICH HELPS OR PERMITS THE RESPONDENT TO BREACH THE TERMS OF THIS ORDER MAY ALSO BE HELD TO BE IN CONTEMPT OF COURT AND MAY BE IMPRISONED, FINED OR HAVE THEIR ASSETS SEIZED.


THIS ORDER 

This is a Freezing Order made against:

1.Farkhad Teimur Ogly Akhmedov of 17 Mirza Shafi Street, Old City, Baku, Azerbaijan, AZ1 095; and

2. Straight Establishment c/o Counselor Trust reg., Zollstrasse 2, 9490 Vaduz, Liechtenstein (both, ‘the Respondent’)

on 8 February 2018 by His Excellency Justice Ali Al Madhani on the application of Tatiana Mikhailovna Akhmedova (‘the Applicant’). The Judge read the Affidavits listed in Schedule A and accepted the undertakings set out in Schedule B at the end of this Order.

This order was made at a hearing without notice to the Respondent. The Respondent has a right to apply to the Court to vary or discharge the order — see paragraph 9 below.

There will be a further hearing in respect of this order on a date to be fixed by the court (‘the return date’).

If there is more than one Respondent:

(1) unless otherwise stated, references in this order to ‘the Respondent’ mean both or all of them; and

(2) this order is effective against any Respondent on whom it is served or who is given notice of it.

FREEZING ORDER

1.Until the return date or further order of the Court, the Respondent must not:

(1) remove from the DIFC any of his assets which are in the DIFC up to the value of US$540,136,876.71; or

(2) in any way dispose of, deal with or diminish the value of any of his assets whether they are in or outside the DIFC up to the same value.

2. Paragraph 1 applies to all the Respondent’s assets whether or not they are in his own name and whether they are solely or jointly owned and whether the respondent is interested in them legally, beneficially or otherwise. For the purpose of this order the Respondent’s assets include any asset which he has the power, directly or indirectly, to dispose of or deal with as if it were his own. The Respondent is to be regarded as having such power if a third party holds or controls the asset in accordance with his direct or indirect instructions.

3. This prohibition includes the following asset in particular:

The vessel named “LUNA” with IMO No. IMO-1010222, which is currently registered with the Office of the Maritime Administrator of the Republic of the Marshall Islands with Certificate of Registry No. 5817-PY in the name of Straight Establishment (the ‘Vessel’).

4.(1) If the total value free of charges or other securities (‘unencumbered value’) of the Respondent’s assets in the DIFC exceeds US$540,136,876.71, the Respondent may remove any of those assets from the DIFC or may dispose of or deal with them so long as the total unencumbered value of the Respondent’s assets still in the DIFC remains above US$540,136,876.71.

(2) If the total unencumbered value of the Respondent’s assets in the DIFC does not exceed US$540,136,876.71, the Respondent must not remove any of those assets from the DIFC and must not dispose of or deal with any of them. If the Respondent has other assets outside the DIFC, he may dispose of or deal with those assets outside the DIFC so long as the total unencumbered value of all his assets whether in or outside the jurisdiction remains above US$540,136,876.71.

PROVISION OF INFORMATION

5. (1) Unless paragraph (2) applies, the Respondent must within five (5) days of service of this order and to the best of his ability inform the Applicant’s legal representatives of all his assets worldwide exceeding US$10,000 in value whether in his own name or not and whether solely or jointly owned, giving the value, location and details of all such assets, and which shall include all founder’s rights held or exercisable directly or indirectly by the Respondent in Straight Establishment or in any other Liechtenstein Anstalt the assets of which exceed US$10,000 in value, regardless of the value of such founder’s rights.

(2) If the provision of any of this information is likely to incriminate the Respondent, he may be entitled to refuse to provide it, but is recommended to take legal advice before refusing to provide the information. Wrongful refusal to provide the information is contempt of court and may render the Respondent liable to be imprisoned, fined or have his assets seized.

6. Within ten (10) working days after being served with this order, the Respondent must swear and serve on the Applicant’s legal representatives an affidavit setting out the above information.

 

EXCEPTIONS TO THIS ORDER

7. (1) This order does not prohibit the Respondent from spending US$2,000 a week towards his ordinary living expenses and also or a reasonable sum on legal advice and representation. But before spending any money the Respondent must tell the Applicant’s legal representatives where the money is to come from.

(2) This order does not prohibit the Respondent from dealing with or disposing of any of his assets in the ordinary and proper course of business, save that the Respondent must obtain the prior written permission of the Applicant or permission of the Court to deal with, dispose of or in any way directly or indirectly diminish the value of the Vessel.

(3) The Respondent may agree with the Applicant’s legal representatives that the above spending limits should be increased or that this order should be varied in any other respect, but any agreement must be in writing.

(4) The order will cease to have effect if the Respondent:

(a) provides security by paying the sum of US$319,800,000 into Court, to be held to the order of the Court; or

(b) makes provision for security in that sum by another method agreed with the Applicant’s legal representatives or by the court.

 COSTS

8. The costs of this application are reserved to the Judge hearing the application on the return date.

VARIATION OR DISCHARGE OF THIS ORDER

9. Anyone served with or notified of this order may apply to the Court at any time to vary or discharge this order (or so much of it as affects that person), but they must first inform the Applicant’s legal representatives. If any evidence is to be relied upon in support of the application, the substance of it must be communicated in writing to the Applicant’s legal representatives in advance.

INTERPRETATION OF THIS ORDER

10. A Respondent who is an individual who is ordered not to do something must not do it himself or in any other way. He must not do it through others acting on his behalf or on his instructions or with his encouragement.

11. A Respondent which is not an individual which is ordered not to do something must not do it itself or by its directors, officers, partners, employees or agents or in any other way.

PARTIES OTHER THAN THE APPLICANT AND RESPONDENT

12. Effect of this order

It is a contempt of court for any person notified of this order knowingly to assist in or permit a breach of this order. Any person doing so may be imprisoned, fined or have their assets seized.

13. Set off by banks

This injunction does not prevent any bank from exercising any right of set off it may have in respect of any facility which it gave to the respondent before it was notified of this order.

14. Withdrawals by the Respondent

No bank need enquire as to the application or proposed application of any money withdrawn by the Respondent if the withdrawal appears to be permitted by this order.

15. Persons outside the DIFC

(1) Except as provided in paragraph (2) below, the terms of this order do not affect or concern anyone outside the jurisdiction of this court.

(2) The terms of this order will affect the following persons in a country or state outside the jurisdiction of this court:

(a) the Respondent or his officer or agent appointed by power of attorney;

(b) any person who:

(i) is subject to the jurisdiction of this court;

(ii) has been given written notice of this order at his residence or place of business within the jurisdiction of this court; and

(iii) is able to prevent acts or omissions outside the jurisdiction of this court which constitute or assist in a breach of the terms of this order; and

(c) any other person, only to the extent that this order is declared enforceable by or is enforced by a court in that country or state.

16. Service

The Applicant has permission to serve this order and the documents referred to at paragraph 2 of Schedule B of this order on the Respondent out of the jurisdiction using the following methods of service:

(1) On the First Respondent, by registered post at 17 Mirza Shafi Street, Old City, Baku, Azerbaijan, AZ1095.

(2) On the First Respondent, by email to farkhad@akhmedov.net.

(3) On the Second Respondent, by official service on Counselor Trust Registered c/o Straight Establishment, Zollstrasse 2, 9490 Vaduz, Liechtenstein.

(4) On the Second Respondent, by registered post to Counselor Trust Registered c/o Straight Establishment, Zollstrasse 2, 9490 Vaduz, Liechtenstein.

 

Issued by:

Natasha Bakirci

Senior Assistant Registrar

Date of issue: 8 February 2018

At: 3pm

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