The Canadian respondents brought a motion to set aside an ex parte Mareva injunction that froze their assets worldwide.
They argued the injunction should be set aside due to material non-disclosure by the applicants and insufficient evidence of their involvement in the alleged $71.7 million fraud or risk of dissipation.
The court dismissed the motion to set aside, finding no material non-disclosure and sufficient evidence of knowing receipt of misappropriated funds and risk of dissipation.
However, the court varied the order to release funds for the respondents' living and legal expenses.
The court also granted a sealing order over the transcripts of the respondents' compelled examinations to protect their rights against self-incrimination in light of a criminal investigation in Iran.
The respondents' request for security for the applicants' undertaking as to damages was denied.
