Mareva injunction set aside for failure to provide full and frank disclosure.
The defendant moved to set aside an ex parte Mareva injunction that had frozen his assets pending trial.
The court held that the plaintiff failed to make full and frank disclosure of material facts when obtaining the injunction, including the existence of a prior written settlement agreement that could be dispositive of the claim and other misleading statements regarding the defendant’s financial circumstances.
Applying the principles governing Mareva injunctions and Rule 39.01(6) of the Rules of Civil Procedure, the court found the nondisclosure sufficient to rescind the order.
The court also declined to grant a fresh injunction, finding the plaintiff had not established a prima facie case or a genuine risk of dissipation of assets.
The defendant’s motion was granted and the plaintiff’s motion to continue the injunction was dismissed.
SCJSuperior Court of JusticeMar 1, 2013