The High Court of Justice issued a worldwide freezing order to facilitate the enforcement of
an arbitration award. The companies indirectly controlled by the losing party were transferring assets and diverting profits to avoid the payment of the award.
Initially, the real risk of dissipation was established by the tribunal. Following this finding, the risk of dissipation was further increased, by evidence which proved that there was a lack of probity on behalf of respondent in his dealings with the Ukrainian authorities, and the substitution of bearer investment certificates for shares which made dissipation easier. Such evidence justified the granting of the requested order.