National Bank of Uzbekistan Seeks Enforcement Against Solfy CA in England

Tashkent, Uzbekistan (UzDaily.uz) — The law firm Grosvenor Law, representing the National Bank of Uzbekistan (NBU), has announced the initiation of enforcement proceedings in England for two court judgments previously issued in favor of the bank in Uzbekistan. The total recovery amount exceeds 21 billion soums, which is approximately 1.32 million pounds sterling.

The judgments relate to the failure of the defendant, Solfy CA, to fulfill its financial obligations under a commercial contract. After the defendant's attempts to appeal proved unsuccessful, NBU instructed Grosvenor Law to initiate the corresponding proceedings in English courts to recover the awarded funds using all mechanisms provided under English law.

"Our client's position is straightforward. There are final and binding judgments against the Defendant. NBU has every confidence in the English courts and in the legal process, and we will pursue enforcement as rapidly as possible. The law is on our client's side," said Dan Morrison, Senior Partner at Grosvenor Law.

In preparation for the proceedings, Grosvenor Law sent a formal notice to the legal representatives of Solfy CA and Mr. Poletaev, requiring the preservation of all materials relating to the case in any storage format. The firm explained that this measure is a standard precautionary step under the Civil Procedure Rules of England and Wales, and a failure to comply could result in serious legal consequences.

NBU also reported that it is aware of an alleged public information campaign being conducted by representatives of Solfy CA, aimed at discrediting the bank and creating a negative image of the investment climate in Uzbekistan. The bank links this campaign to ongoing criminal proceedings against an individual associated with Solfy CA, specifically a director of the company who stands accused of embezzlement. In addition to NBU, complaints were filed with law enforcement authorities against the same suspect by nine other unrelated individuals.

The National Bank of Uzbekistan categorically rejected any attempts to politicize a commercial and legal dispute, called on all parties to refrain from interfering with the criminal investigation, and reserved all of its rights regarding potential public statements made on behalf of Solfy CA or Mr. Poletaev.

"We look forward to the matter being resolved in court," Morrison added.