On July 30, 2021, the Irish High Court notified the parties that it has denied UCCU’s application to have the case against it, and certain of its alleged co-conspirators, including Dmitry Mazepin, dismissed on the basis that the Court lacked jurisdiction over the Russian moving parties. The Court informed the parties that it is continuing to work on the written judgment and that it is likely that such judgment, along with other outstanding judgments in the case, will be delivered shortly.
This decision is significant, since it means that the Court will now hear and decide the merits of the case against UCCU concerning one of the largest corporate raids in history. The BKITs, along with TogliattiAzot, a Russian company and one of the largest chemical producers in the world, have been the victim of a corporate raid for over a decade, led by rival company UCCU and its owner, Dmitry Mazepin. The purpose of the raid is to seize the BKITs’ majority stake in TogliattiAzot using a host of illegal tactics, such as the falsification of documents and the application of undue and improper pressure on judges and other officials within Russian law enforcement. Unable to receive a fair and independent hearing in Russia, the BKITs brought their claim before the Irish court because an Irish company called Eurotoaz Limited has been a central player in the corporate raid.
The four plaintiff companies – Trafalgar Developments, Instantania Holdings, Kamara and Bairiki Inc – have sued EU-sanctioned Russian billionaire, Dmitry Mazepin, another Russian ammonia producer called United Chemical Company Uralchem (UCCU), which Mr Mazepin controls, as well as UCCU itself and a number of other companies and individuals.
These other companies/individuals are either controlled by Mr Mazepin or acted in concert with him to damage the plaintiffs’ interests, it is alleged.
Among those other companies is Eurotoaz, a Dublin registered firm, also allegedly controlled by Mr Mazepin.
Eurotoaz was allegedly engaged in a campaign of vexatious and false litigation in Russia to deprive the plaintiff companies of their shareholding in ToAZ.
It is claimed they were all part of a conspiracy to defraud the plaintiffs through illegal and corrupt actions. The claims are denied.
The High Court previously rejected a challenge by the Mazepin/UCCU defendants to the jurisdiction of the Irish courts to deal with the case.
Read more here:
Firm loses jurisdiction challenge over action involving sanctioned Russian oligarch
