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London court allowed Ablyazov to appeal the ruling

17 may 2012, 18:37
Mukhtar Ablyazov. Photo by Yaroslav Radlovskiy©
Mukhtar Ablyazov. Photo by Yaroslav Radlovskiy©
London’s High Court allowed ex-head of BTA Bank Mukhtar Ablyazov to appeal the ruling stating that he has to spend 22 months in jail for contempt of court, Bloomberg writes.

“It is striking that fears for Ablyazov’s personal safety on which he now relies so heavily were voiced only after judgment was given in the committal proceedings,” Judge Martin Moore-Bick said. “It would not be in the interests of justice to require Ablyazov to surrender himself to custody as a condition of proceeding with this appeal. However badly he may have behaved.”

“We agree with the court’s ruling and will continue to pursue the recovery of the assets for the benefit of our creditors and shareholders,” representatives of BTA Bank said. The hearing on Ablyazov’s appeal is scheduled for the beginning of July.

Earlier BTA Bank’s lawyers stated that the bank’s ex-chairman has to be deprived of the right to appeal this ruling as he is currently on the run. According to Stephen Smith, Ablyazov is playing with the court. “Most likely he has fled the U.K. and if that is true he has committed yet another contempt of court,” he said.

Earlier Tengrinews.kz English reported that ex-chairman of BTA Bank appealed the court’s ruling on March 8. London’s High Court sentenced him to 22 months in jail on February 16. Later the court ruled out to deprive him of the right to defend in court if he does not give in to British court by March 9. However, as the appeal was filed one day prior to this deadline, the decision of depriving Ablyazov of the right to defend will not come into effect until the appeal is reviewed.

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