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05.01.2018 | 16:07
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Cyprian court "froze" USD 820 million of Akhmetov

On December 27, Court of Nicosia ordered to freeze Rinat Akhmetov's assets

On December 27, District Court of Nicosia decided to freeze assets of Rinat Akhmetov, businessman, to the amount of USD 820 million in Ukrtelecom case. 

It was reported by Financial Times.

The edition noted that assets were frozen under Raga Establishment lawsuit.

"Raga Establishment filed a lawsuit against Akhmetov and other claims to pay in full for Ukrtelecom, telecommunication group, purchase," according to the edition. 

In accordance with the court decision, Akhmetov and other respondents are free to deal with their property so long as assets worth at least USD 820.5million — the amount sought by Raga in the litigation — are preserved and certain large transactions are notified to Raga in advance.

Raga also was reported to sell Ukrtelecom to Akhmetov for USD 860 million in 2013, with Akhmetov paying USD 100 million upfront but nothing since.

References in the article: ukrtelecom, court, akhmetov
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