We acted for Darnitsa, a leading Ukrainian pharmaceutical company, in a team with English and Swiss lawyers in a range of cases brought before Ukrainian, English and Swiss courts with the aim of terminating an international corporate fraud scheme created by the management of another major pharmaceutical plant in which Darnitsa is the largest shareholder.
In this matter Darnitsa obtained from the High Court of Justice in London a Worldwide Freezing Order (WFO) with regard to the assets of the fraud participants. The English WFO was followed by the freezing order from a Swiss court, enabling seizure of a multimillion amount at a Swiss bank account of a UK corporate vehicle involved in the fraud to secure future enforcement of the Ukrainian court decision in the derivative litigation.
The UK corporate vehicle sought to discharge the WFO. The High Court of Justice fully dismissed this application and ruled that the Order should continue. Moreover, on the basis of the additional evidence submitted by Darnitsa, the court ruled to increase the amount of frozen funds by several million US dollars.