Irish Court will decide ToAZ case on the merits
In 2016, Bairiki Incorporated, of the British Virgin Islands; Kamara Ltd, of St Lucia; Instantania Holdings Ltd, of the British Virgin Islands; Trafalgar Trafhold Ltd, of St Lucia (the ‘BKITs’) started a lawsuit against the corporate raiders in the Irish courts. The BKITS claimed $2 billion in damages and asked for an injunction to stop the raider attacks. The BKITs seek relief in the Irish Courts.
Eurotoaz is a central part of the scheme. Pretending to be a ToAZ shareholder, Eurotoaz files baseless complaints in the Russian court system to gain control over the company.
The Irish proceedings revealed that Eurotoaz first fraudulently tried to pass itself off as a legitimate ToAZ shareholder.
Eurotaz then manufactured correspondence in an attempt to falsely show it had bought the ToAZ shares from that legitimate shareholder, until it finally has to admit in Irish court that it is actually owned by Mazepin’s holding company UCCU.
Eurotaz initially tried to stop the Irish proceedings, but their attempts are denied in 2019. UCCU then applied to have the case dismissed based on lack of jurisdiction. That application is denied in 2021. This meant the Irish Court would hear and decide the merits of ToAZ’s case against UCCU and its co-conspirators in the corporate raid. UCCU has provided a number of undertakings to the Irish Court which effectively include a commitment not to enforce the 2019 Russian Court judgment and started seizing the Plaintiffs’ assets, including their shares until the Irish High Court has rendered judgment. Whether UCCU intends to stick to its commitment is unclear.
Click on the respective word for a full list of the plaintiffs and defendants of the court case.
The defendants are:
Dmitry Mazepin
Mr. Mazepin is a Belarusian-Russian oligarch businessman with public ties to the Kremlin. The ToAZ majority shareholders claim that Dmitry Mazepin is the leader of the corporate raid on TogliattiAzot, one of the largest ammonia producers in the world.
United Chemical Company Uralchem (UCCU)
A Russian chemical company owned by Mr. Mazepin with a minority share in and a competitor of ToAZ.
Uralchem Holding
UCCU’s holding company.
Yulia Bolotnikova
UCCU’s in-house lawyer who actively participated in vexatious litigation against ToAZ on behalf of Eurotoaz.
Dmitry Konyaev
Former CEO of UCCU and business associate of Mr. Mazepin.
Eurotoaz
An Irish company owned by UCCU which has conducted a campaign of vexious litigation against ToAZ to unlawfully obtain enhanced shareholder rights for the raiders.
Andrey Babichev
Director of Eurotoaz and business associate of Mr. Mazepin.
Belport Investments
A BVI shell company that was part of a false Share PurchaseAgreement for UCCU’s ToAZ shares to Belport that UCCU used to start civil and criminal proceedings against ToAZ claiming fictitious damages.
Androula Charilaou
The Director of Belport who executed the false Shareholder Purchase Agreement on behalf of Belport.
Milko Minkovski
The owner of Belport who gave evidence in Russian proceedings on behalf of UCCU regarding the false Shareholder Purchase Agreement.
Yevgeny Sedykin
Acted for Eurotoaz in its campaign of vexatious litigation, unlawfully procured the suspension of the ToAZ Board of Directors and has been convicted of fraud in Russia in consequence.