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British Supreme Court ends Ablyazov's legal maneuvers

26 февраля 2013, 19:12
Mukhtar Ablyazov. Photo by Yaroslav Radloskiy©
Mukhtar Ablyazov. Photo by Yaroslav Radloskiy©
Great Britain's Supreme Court has dismissed the appeal of ex-chairman of Kazakhstan's BTA Bank Mukhtar Ablyazov, Tengrinews.kz reports citing the bank's press-service.

"BTA Bank reports that Great Britain's Supreme Court has denied permission to the bank's former chairman Mukhtar Ablyazov to appeal the ruling of the Court of Appeals that rejected a previous Ablyazov's appeal against the ruling of judge Nigel Teare," the message states.

One of the Teare's decisions that Ablyazov appealed against sentenced him to 22 months in prison for contempt of court because he failed to disclose his assets. The other required him to turn himself in to the relevant authorities and make proper disclosure of his assets or forfeit the right to defend eight of the claims against him brought by BTA Bank, with a combined value of over $6 billion.

"Denying Ablyazov the permission for the next appeal, Great Britain's Supreme Court explained that Ablyazov's claim against the ruling of the Court of Appeals had no legal grounds of sufficient public interest," the bank's press-service writes.

According to BTA Bank's board member Pavel Prosyankin, the Supreme Court's ruling marks the end of Ablyazov's legal "maneuvers" and will allow to speed up the process of enforcement of the rulings made by court in the bank's favor.

"The ruling of the Supreme Court gives the bank the opportunity to start claiming and returning the assets embezzled by Mr.Ablyazov. We remain committed to the process of returning the assets and reimbursement of losses caused by Ablyazov's actions," he added.

Pursuing the lawsuits filed by BTA Bank against its former head Mukhtar Ablyazov, the London High Court earlier expanded the list of assets and companies banned from any transactions. In particular, the updated list includes such assets as Kplus-tv.net, stan.tv, Respublika-kz.com.

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