JP MORGAN SECURITIES PLC V VTB BANK PJSC

[2025] EWHC 1368 (Comm), King's Bench Division, Commercial Court, Foxton J, 5 June 2025

Arbitration – Anti-suit injunction – Whether contracting party could obtain injunction to prevent judicial proceedings against affiliates – Contractual anti-suit injunction – Vexatious and oppressive basis for injunction – Anti-enforcement injunction – Contracts (Rights of Third Parties) Act 1999

The nine claimants were all JPM group companies. The first two claimants were incorporated in England, and had entered into a series of agreements with VTB, a majority state-owned Russian bank. The other claimants did not have contracts with VTB.