Well Charging Order in UK Law

Leading Cases
  • JSC BTA Bank v (1) Mukhtar Kabulovich Ablyazov (First Defendant) (2) Salim Shalabayev (Intervener/Appellant)
    • Court of Appeal (Civil Division)
    • 10 February 2015

    The Disclosure Order related to Mr Shalabayev's role as nominal ultimate beneficial owner of two companies in the Seychelles, Millennium and Proteus, a role he performed at the request of Mr Ablyazov. Mr Shalabayev was sole signatory on accounts held by these companies at banks in Cyprus. As a result he was involved in two transfers of large amounts of money from Millennium to Proteus in early 2011.

    It should be pointed out at the outset of the discussion that there is no direct connection between the findings of contempt against Mr Shalabayev and the issue of beneficial ownership of Alberts Court which arose in connection with the charging order proceedings.

  • Ezekiel v Orakpo
    • Court of Appeal (Civil Division)
    • 03 July 1996

    (2) Section 3(4) of the Charging Orders Act 1979 provides that the Charging Order takes effect as an equitable charge created by the judgment debtor by writing under his hand. It must therefore be given the same effect, unless the Act itself provides otherwise, as would an equitable charge on the land in question to secure a stated principal sum but with no mention of interest. Such a charge would carry interest even though there were no words allowing interest in the charge itself.

    His submission was founded on the well-established principle that a Charging Order cannot be given except for an ascertained sum: see Widgery v Tepper 6 Ch. D 364, a decision of this court. It is clear law, for example, that a Charging Order cannot be made for untaxed costs. But it is said by a parity of reasoning that it cannot be made to secure future interest since the amount of such interest cannot be ascertained in advance.

    It is important to recognise at the outset what was the true nature of the plaintiff's application in 1993. He was not bringing an action upon the judgment debt which he had obtained in 1979. He was not even seeking to enforce execution of that judgment. He did that when he applied for and obtained the Charging Order in 1982. In 1993 he was a secured creditor with the statutory equivalent of an equitable charge.

  • Roberts Petroleum Ltd v Bernard Kenny Ltd
    • Court of Appeal (Civil Division)
    • 11 December 1981

    The first principle is that a judgment creditor is in general entitled to enforce a money judgment which he has lawfully obtained against a judgment debtor by all or any of the means of execution prescribed by the relevant rules of court.

    (1) The question whether a charging order nisi should be made absolute is one for the discretion of the court.

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Legislation
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Books & Journal Articles
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Law Firm Commentaries
  • 2009 - The Banks' Annus Mirabilis: Through the Consumer Credit Looking-Glass
    • Mondaq United Kingdom
    ... ... Less well-publicised was a series of cases handed down, one ... could not apply to court for an enforcement order under s.127(1) of the CCA: Rankine v American ... to enforce it (for instance by way of a charging order) ... Mr McGuffick, as well as the OFT in ... ...
  • Outsourcing and Tax - August 2007
    • Mondaq United Kingdom
    ... ... have a clear grasp of the first subject - as well as a curiosity to discover why specialists in tax ... teams as they develop the project charging structures in order to make sure that charging, ... ...
  • Ignore the Restriction at your Peril
    • Mondaq United Kingdom
    ... ... person with the benefit of an interim charging order on the beneficial interest of Mr Joe Bloggs ... that the solicitor's job is done may well lead to a negligence claim ... The content of ... ...
  • Offshore Wind Powers Electric Vessels
    • Mondaq UK
    ... ... charging points for electric vessels. These will be built ... turbine pillars in order to provide renewable energy to crew ... transfer ... Reed Smith assists a number of well established offshore wind ... industry clients, ... ...
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