The plaintiff moved to continue a Mareva injunction freezing assets allegedly connected to a multi‑million dollar international fraud scheme.
One defendant opposed continuation of the injunction, arguing material non‑disclosure, delay, lack of evidence connecting the defendants to the fraud, absence of risk of dissipation of assets, and insufficiency of the plaintiff’s undertaking as to damages.
The court held that any alleged non‑disclosure regarding the plaintiff corporation’s status or its principal’s personal bankruptcy was not material and did not justify dissolving the injunction.
The court further found that the criteria for a Mareva injunction were met, including a strong prima facie case of fraud and a risk of dissipation of assets inferred from suspicious financial transfers.
The Mareva injunction was continued until trial or further order, subject to conditions requiring proof of the plaintiff corporation’s good standing and notice to the principal’s bankruptcy trustee.