PJSC National Bank Trust v Mints

Mrs Justice Cockerill has recently handed down judgment in PJSC National Bank Trust v Mints [2023] EWHC 118 (Comm) in which she considered the effect of the Russian sanctions on various litigation issues. In short, she held that sanctioned claimants can sue for damages and judgment can be entered in their favour without the regulations being contravened; and payment of costs to and by sanctioned persons (i.e. adverse and favourable) and security for costs to be provided by sanctioned persons are licensable activities.

John Machell KC acted for MFT (PTC) Limited (together with James Knott of 4 Stone Buildings) instructed by Jonathan Speed and Simona Peter of Bird & Bird.

The judgment can be viewed here.

Related Barristers

John Machell KC has a broad commercial chancery practice, with particular experience in large-scale litigation involving trusts, fiduciary/director duties, and fraud, particularly with an international dimension.

John is regarded as one of the leading partnership and LLP silks and has experience of a wide range of both contentious and non-contentious matters across the whole range of business sectors. A large part of his work involves issues arising from the use of partnerships and LLPs in hedge fund and private equity structures; in international commercial group structures; and as part of wealth planning strategies.

A substantial part of John’s practice is offshore, and he has appeared in the courts of Grand Cayman, the British Virgin Islands, and Bermuda on several occasions in recent years.