Costs

In earlier proceedings, the claimant bank had applied to commit the first defendant, Sergey Maksimov, to prison for contempt of court for allegedly breaching worldwide freezing orders. The court had dismissed most of the bank’s grounds of contempt. The Commercial Court held that the appropriate costs order to make in the exercise of its discretion was that the bank should pay 80% of Maksimov’s costs since January 2014. It further ordered that an interim payment of £175,000 was appropriate.