Summary

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This is the reserved judgment on the claimants' application of 16 March 2020 to continue a freezing injunction (the "Injunction") which was made on an ex parte basis on 13 March 2020 by order of Henshaw J (the "March Order") and continued pending the handing down of this judgment by order of this court on 8 April 2020. (The original return date of 27 March 2020 was adjourned by consent.)

The defendants apply to set aside the Injunction and/or to set aside the permission for service by email.

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Evidence

The claimants have filed evidence in the form of three affidavits of Mr Kozachenko, an English solicitor with the firm of Fortior Law acting for the claimants, dated 12 March, 13 March and 3 April 2020 and a witness statement of Mr Axel Krueger ("Mr Krueger") dated 8 March 2020.

The defendants have filed a witness statement of Mr Konstantinos Ghertsos ("Mr Ghertsos"), the second defendant, dated 31 March 2020 and a witness statement of Mr Alessandro Laurenti, a Swiss lawyer acting for the defendants, dated 31 March 2020.

Background

The claimants are Petrochemical Logistics Ltd ("Petrochemical") and Mr Krueger. Petrochemical is a company registered in Gibraltar.

PSB Alpha AG ("PSB Alpha") is a company registered in Switzerland with shares in bearer form.

Alpha Terminals BV ("Alpha Terminals") is a company registered in The Netherlands which was owned by PSB Alpha. Alpha Terminals owns land on which a storage terminal for oil and petroleum products is to be built (the "Vlissigen Project"). Petrochemical has made three loans in connection with the Vlissigen Project: two to Mr van Croonenburg and an associated company and one for CHF 50,000 to PSB Alpha. The agreement for the latter provided for LCIA arbitration in London.

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