By Maya Lester KC & Michael O’Kane

New Zealand court says bank entitled to terminate banking relationship because of Russia sanctions risk

The High Court of New Zealand rejected Targa Capital Ltd’s application for an injunction stopping Westpac New Zealand from terminating its banking services to Targa and closing Targa’s bank accounts. Judgment of 17 February 2023 here. Targa’s sole shareholder is Endurance Capital Ltd, which is the sole trustee of the Raglan Trust, settled in 2009 to benefit Alexander Abramov. In …

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About Maya Lester KC

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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...

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