Russell-Cooke were instructed by Jackson 31 Limited and Fininco. Walker International Holdings Ltd were what is commonly known as a vulture fund.
They were seeking to argue that Russell-Cooke's clients' assets in England which were primarily a valuable property in London were susceptible to enforcement proceedings to enforce an international arbitration award for in excess of Fr F 100million obtained against the Republic of Congo. The case involved consideration of the law relating to emanations of the State in international law, Sham companies and transactions at an undervalue and the law relating to beneficial ownership. ..The Judge found in favour of Walker International Holdings Ltd.