Icelandic bank Kaupthing is seeking a ruling that the UK courts have no jurisdiction to hear claims against it made by Vincent Tchenguiz in an action also involving accountants Grant Thornton.
Kaupthing Bank and Icelandic lawyer Johannes Runar Johannsson, who was a member of Kaupthing’s resolution committee and is currently a member of its winding-up committee, are seeking a ruling from Carr J that the claims against them should be heard in Iceland.
If their challenge to the UK court’s jurisdiction is successful, it would require Tchenguiz to pursue parallel proceedings against Grant Thornton and its partners Stephen John Akers and Hossein Hamedani here in London, and Kaupthing and Johannsson in Iceland.
The complex jurisdictional challenge is being heard over two days, with a ruling not expected to be given until a later date.
Kaupthing and Johannsson argue that the proceedings relate to the winding up of insolvent companies and that, under European law, they should be heard in Iceland.
However, Tchenguiz maintains his claims involve torts committed in the UK and governed by UK law, so the whole action should be tried in London.
Earlier this year Tchenguiz was ordered to go back to the drawing board in his £2bn claim, in which he alleges that the defendants conspired to induce the Serious Fraud Office to investigate him. Leggatt J struck out his over-long particulars of claim in the action and gave his lawyers 21 days to serve replacement particulars half the length.
That issue has now been resolved, and Tchenguiz is pursuing claims of malicious prosecution, conspiracy to injure by unlawful means and malicious procurement of arrest and search warrants against him. He claims that Kaupthing is vicariously liable for the actions of Johannsson and Grant Thornton.
In addition to the challenge to the jurisdiction, the various other parties are defending the action.
Tchenguiz and ors v Grant Thornton UK LLP and ors Commercial (Carr J) 9 June 2015
