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Court transferred control over Ablyazov's assets to KPMG

06 april 2012, 19:35
0
Mukhtar Ablyazov. Photo courtesy of vesti.kz
Mukhtar Ablyazov. Photo courtesy of vesti.kz
London High Court has prohibited deals involving assets that belong to the former chairmen of BTA Bank Mukhtar Ablyazov and transferred to KPMG international audit company the control over his assets and over the companies that Ablyazov uses to own these assets for him, Interfax-Kazakhstan reports citing the bank.

"In relation to the motions filed by BTA Bank against its former chairman Mukhtar Ablyazov, the London High Court made several rulings that ban any deals or operations with any of Ablyazov's assets, direct or indirect," the bank's message states.

The message give a list of assets owned by Ablyazov, in particular, the shares in BTA's affiliated banks in Armenia, Georgia and Ukraine, several facilities under construction, commodity assets and infrastructure facilities in CIS countries.

The bank warns that many assets are registered to the third parties and gives a list of people used by Ablyazov to own the assets, according to BTA Bank. The list includes Syrym Shalabayev and Salim Shalabayev, Rinat Batyrgareyev, Aleksandr Udovenko, Kairat Sadykov, Yerlan Kossayev, Paul Kythreotis and others.

In this relation BTA Bank warns that "it will take all the necessary measures against those helping Ablyazov to make deals with his assets, while they are a subject of legal proceedings at the London High Court". "Such measures may involve cancellation of the deals and, if necessary, application of sanctions, including imprisonment. The banned covers all deals that involve sales or purchase of the assets or accepting them as a collateral," the message states.

BTA Bank that defaulted with a $12 billion debt filed several claims to the British Court against Ablyazov and former chairman of BTA Roman Solodchenko. The bank claims that they were siphoning off the bank’s money by extending false loans. Ablyazov and Solodchenko escaped to London and are denying all the charges. Ablyazov also says that he has never violated the assets freezing order of t he London court.

So far BTA Bank has filed 9 claims against Ablyazov and his associates for the total amount of $5 billion.

Kazakhstan’s BTA Bank was nationalized and its former owner Ablyazov was released from his office and then put on the international wanted list. Criminal cases were initiated against several former heads of the bank in Kazakhstan, Russia, Ukraine and Kyrgyzstan over embezzlement of funds.

BTA Bank is currently working with legal and financial consultants to restore the collateral property base and maximize recovery of the illegally siphoned off assets.

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