In Denali Corp – FZCO v Manson & Ors [2026] EWHC 2287 (Ch), the High Court (Chancery Division) held that liquidators granting formal consent to an assignment of proof-of-debt rights by a designated (sanctioned) person do not breach Regulation 11 of the Russia (Sanctions) (EU Exit) Regulations 2019. HHJ Johns KC ruled that consenting to an unliquidated claim transfer does not constitute "dealing with" an economic resource, as it transfers no tangible funds or immediate economic benefit to the sanctioned entity.
- Practice Impact: Officeholders managing insolvent offshore structures with sanctioned creditors can grant statutory consents to debt assignments without infringing UK asset-freeze prohibitions.
- Source: Read Brick Court Chambers' Sanctions & Insolvency Analysis.
UK & Offshore Sanctions: Liquidators' Consents to Proof Assignments (Denali Corp v Manson)