The decision handed down on Friday by Justice Andrew Smith, who heard the original $800m trial in 2009 and 2010, grants an application by Nikitin, and certain other defendants associated with him, to launch an inquiry into the seizing of his assets in 2005 and 2007 by SCF, under the Fiona Maritime name.

The application was first made in February 2011, following Smith's verdict in the trial relating to allegedly fraudulent S&P and charter deals in December, 2010.

Nikitin