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London court will deprive Ablyazov of right to defend in court

02 march 2012, 11:33
0
Mukhtar Ablyazov. Photo by Yaroslav Radlovskiy©
Mukhtar Ablyazov. Photo by Yaroslav Radlovskiy©
London’s High Court will deprive former chairman of BTA Bank Mukhtar Ablyazov of right to defend in court, if he does not give in to British court by March 9, RIA Novosti reports.

Such decision was made after review of the motion of BTA Bank. “This decision has significantly moved the trial forward. Mr.Ablyazov keeps ignoring the decrees of British High Court. BTA Bank will continue its efforts to protect and return the assets that our creditors and shareholders should benefit from,” BTA Bank commented on the court’s new order.

Besides, March 8 is the deadline for Ablyazov and his lawyers to appeal the court’s order on his arrest declared on February 16.

London’s High Court sentenced Ablyazov to 22 months in prison for contempt of court. “He must be taken into custody immediately,” judge Nigel Teare said. This ruling was made on the motion on contempt of court filed by BTA Bank. The defendant did not attend the hearing.

“We fear he may be in the process of fleeing if he has not done so already,” The Financial Times cites BTA Bank’s barrister Stephen Smith. “We have always felt he would flee rather than face the consequences,” he added.

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