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High Court judge says it would be unfair to force Ukrainian billionaires to fight $4.2bn fraud trial | London CityAM - Apr 7, 2022 |

A High Court Judge has halted a $4.2bn fraud trial after claiming it would be unfair to force two of Ukraine's richest men to fight the court battle due to Russia's invasion of Ukraine.

The High Court Judge adjourned the court battle between Ukraine's biggest bank, Privatbank, and Ukrainian billionaires Gennadiy Bogolyubov and Ihor Kolomoisky, as he agreed with the argument that the war in Ukraine would prevent the two billionaires from preparing for their trial.

The judge said current laws banning males between the ages of 18 and 60 from leaving Ukraine may lead to issues in trying the two Ukrainian billionaires, as he said that while both men could in theory tune in remotely, they could also face difficulties in establishing a stable internet connection.

Delaware Judge Presses Pause on Ukrainian Oligarchs' Legal Case in U.S. | CleveScene - Aug. 25, 2021 |

Joseph Slights, Vice Chancellor of Delaware's Court of Chancery, filed the 41-page opinion. He ordered that the suit, which was initially filed by Ukraine's PrivatBank in 2019, can't go forward just yet. But he denied an outright dismissal of the case, as the defendants had hoped for. 

As Scene first reported in 2019, PrivatBank alleged that Kolomoisky and Bogolyubov oversaw a scheme to fraudulently procure loans from PrivatBank, which they owned from 2006-2016, and to launder the proceeds through various shell companies around the world. They are alleged to have ultimately used those proceeds to acquire U.S. metallurgical and real estate interests.

Why Giuliani eyed 2 Ukrainian oligarchs -- Dmitry Firtash and Ihor Kolomoisky -- for help in digging dirt | NY Times - Nov 25, 2019 |

Related reading ...

Financial loopholes exploited by authoritarians to fund political interference in democracies | Alliance for Securing Democracy - Aug 2020 |

'Sapere aude'

by Oui (Oui) on Mon Apr 18th, 2022 at 10:22:33 AM EST
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