Tuesday 14 June 2022
This is a second appeal. The first defendant/appellant appeals the order of Falk J dated 20 January 2022, whereby she allowed the appeal, set aside the order of Master Kaye under appeal, granted the appellant relief from sanction and ordered that funds held in the Court Funds Office be paid out to the appellant’s solicitors.
This was an appeal by the claimant bank/respondent against an order of Master Kaye dated 19 April 2021, in which she dismissed an application for relief from sanctions and for the variation of an order dated 26 January 2021. Master Kaye’s decision related to a dispute about whether, or the terms on which, the respondent should be permitted to convert security for costs, that exists in the form of cash paid into court, into a bank guarantee. The underlying dispute relates to what the respondent alleges is a massive fraud carried out by the first defendant, Georgy Bedzhamov with his sister, who was the President of the respondent.