Arbitral Digest

Matter

Joint Stock Company BTA Bank v Saduakas Mamesh et al. (Eastern Caribbean Supreme Court, Court of Appeal BVIHCMAP2024/0008)

British Virgin Islands appellate proceedings concerning a bank's attempt to serve foreign defendants in a USD 230 million fraud and asset-recovery claim involving offshore special-purpose vehicles. The Court of Appeal upheld the setting aside of service out for failure to satisfy the necessary-and-proper-party gateway, forum conveniens requirements, and the duty of full and frank disclosure.

  • Cross-border litigation
  • Asset tracing and recovery

Procedural record

  1. 8 October 2026British Virgin Islands

    8 October 2026British Virgin Islands

    Judgment of the Eastern Caribbean Supreme Court, Court of Appeal in the case BVIHCMAP2024/0008 dated 8 October 2026

    Eastern Caribbean Supreme Court, Court of Appeal, Territory of the Virgin Islands

    Case no.
    BVIHCMAP2024/0008
    Decision summary
    The Court of Appeal dismissed the appeal on all grounds, upheld the setting aside of the order permitting service out of the jurisdiction and service on the foreign defendants, and awarded the respondents their costs. It held that the bank had not satisfied the necessary-and-proper-party gateway, that the British Virgin Islands was not the clearly or distinctly most appropriate forum, and that the bank had materially breached its duty of full and frank disclosure on the ex parte application.

    Participants

    Joint Stock Company BTA Bank
    Representative
    Roger Masefield KC (For: Joint Stock Company BTA Bank)
    Representative
    David Welford (For: Joint Stock Company BTA Bank)
    Representative
    Alexander Muksimov (For: Joint Stock Company BTA Bank)
    Saduakas Mamesh (formerly Saduakas Mameshtegi)
    Representative
    Stephen Moverly KC (For: Saduakas Mamesh (formerly Saduakas Mameshtegi))
    Representative
    James Noble (For: Saduakas Mamesh (formerly Saduakas Mameshtegi))
    Representative
    Amelia Tan (For: Saduakas Mamesh (formerly Saduakas Mameshtegi))
    Representative
    Joni Khoo (For: Saduakas Mamesh (formerly Saduakas Mameshtegi))
    ADM Asia-Pacific Trading Pte Ltd (formerly Toepfer International Asia Pte Ltd)
    Representative
    Thomas Grant KC (For: ADM Asia-Pacific Trading Pte Ltd (formerly Toepfer International Asia Pte Ltd) · ADM Germany GmbH (formerly Alfred C. Toepfer International GmbH))
    Representative
    Matthew Freeman (For: ADM Asia-Pacific Trading Pte Ltd (formerly Toepfer International Asia Pte Ltd) · ADM Germany GmbH (formerly Alfred C. Toepfer International GmbH))
    ADM Germany GmbH (formerly Alfred C. Toepfer International GmbH)
    Representative
    Thomas Grant KC (For: ADM Asia-Pacific Trading Pte Ltd (formerly Toepfer International Asia Pte Ltd) · ADM Germany GmbH (formerly Alfred C. Toepfer International GmbH))
    Representative
    Matthew Freeman (For: ADM Asia-Pacific Trading Pte Ltd (formerly Toepfer International Asia Pte Ltd) · ADM Germany GmbH (formerly Alfred C. Toepfer International GmbH))
    Grove Services, Inc.
    Representative
    Richard Evans (For: Grove Services, Inc.)
    Bunge SA
    Representative
    Matthew Hardwick KC (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Oliver Clifton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Daniel Hayward-Hughes (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Andrew Chissick (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Harry Oulton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Bunge CIS LLC
    Representative
    Matthew Hardwick KC (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Oliver Clifton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Daniel Hayward-Hughes (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Andrew Chissick (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Harry Oulton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Dauren Bekbergenov
    Representative
    Matthew Hardwick KC (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Oliver Clifton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Daniel Hayward-Hughes (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Andrew Chissick (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Harry Oulton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Ekaterina Kuzmicheva
    Representative
    Matthew Hardwick KC (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Oliver Clifton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Daniel Hayward-Hughes (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Andrew Chissick (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Representative
    Harry Oulton (For: Bunge SA · Bunge CIS LLC · Dauren Bekbergenov · Ekaterina Kuzmicheva)
    Eastern Caribbean Supreme Court, Court of Appeal, Territory of the Virgin Islands
    Judge
    Trevor M. Ward
    Judge
    Reginald T. A. Armour
    Judge
    P. Nicola Byer

    Authorities cited

    20
    • Michael Dufour and others v Helenair Corporation Limited and others ((1996) 52 WIR 188)
      case-law
    • Re Sprintroom ([2019] EWCA Civ 932)
      case-law
    • Multinational Gas and Petrochemical Co v Multinational Gas and Petrochemical Services Ltd ([1983] Ch 258)
      case-law
    • Altimo Holdings and Investment Ltd and others v Kyrgyz Mobil Tel. Limited and others ([2011] 4 All ER 1027)
      case-law
    • Erste Group Bank AG v JSC VMZ Red October and others ([2015] EWCA Civ 379)
      case-law
    • Gunn (a protected party, by her litigation friend Gunn) v Diaz ([2017] EWHC 157 (QB))
      case-law
    • HC Trading Malta Ltd v KI (International) Ltd and others ([2022] EWHC 1387 (Comm))
      case-law
    • Lakatamia Shipping Company Ltd v Su and others ([2023] EWHC 1874 (Comm))
      case-law
    • Vedanta Resources PLC and another v Lungowe and others ([2019] UKSC 20)
      case-law
    • Nilon Limited v Royal Westminster Investments SA and others ([2015] 3 All ER 372 (PC))
      case-law
    • Soriano v Forensic News LLC and others ([2022] QB 533)
      case-law
    • WWRT Ltd v Carosan Trading Ltd et al (BVIHCMAP2022/0002, 11 May 2023)
      case-law
    • Satfinance Investment Ltd v Athena Art Finance Corp
      case-law
    • Golden Ocean Assurance Ltd v Martin (The Golden Mariner) ([1990] 2 Lloyd's Rep 215)
      case-law
    • Best Grain et al v Emerwood Ventures Ltd et al (BVIHC (COM) 153 of 2018, 28 February 2019)
      case-law
    • Brink's Mat Limited v Elcombe ([1988] 1 WLR 1350)
      case-law
    • Amerinvest International Forestry Group Company Ltd v Kwok Ka Yik (BVIHCMAP 2014/0033, 4 March 2015)
      case-law
    • VTB Capital plc v Nutritek International Corp ([2013] AC 337)
      case-law
    • Donna Union Foundation v Koshigi Ltd (BVIHC (Com) 231 of 2018, 14 May 2019)
      case-law
    • The Caribbean Civil Court Practice (3rd edition, LexisNexis Butterworths 2024)
      academic

Matter record

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Joint Stock Company BTA Bank v Saduakas Mamesh et al. (Eastern Caribbean Supreme Court, Court of Appeal BVIHCMAP2024/0008) · Matter