Telman Ismailov will lose $ 135 million

A billionaire Telman Ismailov will lose $ 135 million if the London Court of Arbitration recognizes legitimate the  claim of the owner group of companies "Mangazeya" Sergei Yanchukova. The  trial will start in August this year.

In September 2010 and February 2011, the Cypriot company Tandum, owned by Telman Ismailov, signed two loan agreements with the company Sezaria, a member of the group of companies "Mangazeya" totaling $ 100 million disbursed loans at 10% per annum. However, in June 2011 receiving interest payments stopped. After repeated prolongation final date of repayment - not later than September 1, 2013, according to  personal guarantee  of Telman Ismayilov. In connection with the non-return debt July 2, 2014 the District Court of Nicosia (Cyprus) adopted interim measures to ban on alienation of Telman Ismailov’s  property and cash. Ban was  imposed on the assets held in Cyprus and abroad. The Court also ruled that in the case of non-compliance with court orders, the businessman’s assets and he himself  can be arrested. Cypriot judge froze the assets of  the Azerbaijani billionaire  until  the final settlement of the dispute by the parties.

After accepting  claim to the production  by the company Sezaria in London, representatives of the plaintiff will be able to apply to the courts of other countries where are  the assets  of Telman Ismailov, demanding their arrest. Upon satisfaction of claims  of Sezaria, Telman Ismailov’s property can be seized and sold  by the services of bailiffs at his place of actual location anywhere in the world. - 17D-