Jonathan Gaisman QC and Charles Holroyd recently acted in the case of Luxe v Midland, a case which concerned a disappointed buyer’s right to seek proprietary remedies in an international context against the proceeds of sale of a Ukrainian steel group (Zaporizhstal), where it alleged that the seller (Midland) had wrongfully sold to a subsequent buyer (Russian investment bank Troika Dialog) at a higher price. There were two applications before the court; an application by Midland to discharge a freezing injunction granted without notice by Mann J on 26 May 2010 and continued by Norris J on 2 June 2010, and the second an application by Luxe for a fresh freezing injunction.

Mr. Justice Roth’s judgment of 23rd July can be viewed here.