Kazakh Bank Secures $500M In Hunt For Plundered Funds
Law360, London (August 23, 2018, 6:07 PM BST) -- Kazakhstan’s JSC BTA Bank has scored a major success in its long-running attempt to claw back billions of dollars it claims its former chairman Mukhtar Ablyazov plundered during his time in charge after a London court said it could recover $500 million from his son-in-law Ilyas Khrapunov.
In a July 21 High Court order made public this week, Judge David Waksman struck out Khrapunov’s defense to allegations he conspired to help Ablyazov dodge a worldwide asset-freeze, ordering Khrapunov to pay the bank $424.1 million plus interest of around $76 million.
“This ruling, which finds Ilyas Khrapunov guilty of conspiring with Mr....
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