Over 20 years of litigation seem to have finally caught up with John Emmott, who is struggling to pay a judgment debt of £4,377,565 ordered by the High Court of England and Wales.
The judgment was awarded in favour of a Kazakhstan-based law firm, Michael Wilson & Partners, directed by former Baker McKenzie partner, Michael Wilson, who is described as a corporate transaction lawyer.
The complicated and multi-decade controversy at their heart concerns Emmott’s diversion of partnership assets from MWP to a new partnership, Temujin International (named in honour of Genghis Khan). Emmott is a former lawyer at the British firm, Richards Butler.
In related proceedings, it was claimed that Thomas Sinclair and his associated corporation, Sokol Holdings, were also involved in this diversion and received benefits. Sinclair is a New Zealand national, at one point a resident of Bahrain.
Sinclair was later declared bankrupt, and his rights and interests, including in Sokol Holdings, were transferred to trustees. However, prior to bankruptcy, Sinclair had also made numerous loans to Emmott.
In 2021, MWP purchased these debts from the trustees in bankruptcy and subsequently commenced further litigation in England against Emmott for their recovery.
The multi-million-pound judgment was made in favour of Wilson in January this year (see further: Success Abroad).
Emmott applied in May to have the debt set aside under the English Insolvency Act on the grounds of having a counter-claim which equals or exceeds the debt.
However, his application was recently rejected by the court due to insufficient evidence, which lacked the ‘particularity and substance necessary’ for the court to make such a determination.
Emmott has until June 19 to cough up the coins, after which MWP will be authorised to request a bankruptcy order.
MWP has already issued 3 Petitions for Mr Emmott’s Bankruptcy and this will be the 4th, the first 3 are listed and will be heard on 12-130127 and also 34 Statutory Demands (equivalent of Bankruptcy Notices) as his Judgment Debts to MWP exceed GBP19.430m and his debts to MWP qua Sinclair exceed US$34m – on his own case Emmott is hopelessly insolvent and trading whilst insolvent, Mr Baird is entirely contingent and Mr Duggan never requires to be paid.
A 4th Petition was issued and presented by MWP to Mr Emmott on 190626, requiring him to pay MWP GBP4,803, 437 failing which he will be bankrupted and his Estate sequestrated, including in Australia
Damages Inquiry Hearing also before Sir Robin Knowles J on 060726 and Fraud and Deceit claim also filed in Australia