March 31, 2022 — The Irish High Court has ruled against one of a number of Russian companies in a €2 billion alleged conspiracy-to-defraud case involving a Dublin-registered firm and a Russian billionaire who allegedly controls it. Mr Justice Denis McDonald gave judgment against Aktum LLC, with offices in Presnenskaya Naberezhnaya, Moscow, and in Perm City, both Russia, for conspiracy to defraud four Caribbean-registered firms of their shares in Russian ammonia producing company Togliattiazot (ToAZ). Damages will be determined later.
The four plaintiff companies – Trafalgar Developments, Instantania Holdings, Kamara and Bairiki Inc – sued EU-sanctioned Russian oligarch, Dmitry Mazepin, another Russian ammonia producer United Chemical Company Uralchem (UCCU), which Mr Mazepin controls, as well as UCCU itself and a number of other companies and individuals.
Among those other companies is Eurotoaz, a Dublin registered firm, also allegedly controlled by Mr Mazepin, which allegedly engaged in a campaign of vexatious and false litigation in Russia to deprive the plaintiff companies of their shareholding in ToAZ.
