Claimants who hired a private intelligence firm covertly to extract privileged information from the other side's solicitor have lost their worldwide freezing orders—even though their underlying fraud claim remains strong. In Pliego and another v. Astor Asset Management 3 Ltd and others [2026] EWCA Civ 940, the Court of Appeal upheld the finding of a serious abuse of process—and went further than the first-instance judge, discharging the worldwide freezing orders the claimants had obtained.
Background: a fraud claim and a covert sting
The underlying dispute concerns a Stock Loan Agreement concluded in July 2021, under which the claimants transferred shares in Grupo Elektra worth approximately USD415M in exchange for a loan of just USD115M. The greater part of the share proceeds ultimately passed into the control of the fourth defendant, Vladimir Sklarov. The claimants allege the transaction was procured by fraud.
