LEXLAW Solicitors & Barristers
In Les Ambassadeurs Club Ltd v Albluewi [2020] EWHC 1313 (QB), the High Court discharged a worldwide freezing order (WFO) obtained by a casino against its customer in finding that the claimant had failed to establish a real risk of dissipation of assets and that there had been material non-disclosures which were directly relevant to the risk.
This decision confirms the rule against reflective loss as an important tool to protect the payment waterfall for unsecured creditors in the event of a company’s insolvency.
During the lockdown, many businesses have moved to online and remote working. Action Fraud reports daily on coronavirus-linked fraudulent activity including phishing and online hacking scams. As companies continue to suffer financially, now more than ever, parties require the assistance of the court should an urgent injunction be necessary.
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