Court of Amsterdam ordered to freeze the shares of Rinat Akhmetov, the owner of SCM Group and the richest Ukrainian businessman, for 820 million USD on January 5th in the execution of the decision by the Court of Nicosia on December 27. The order relates Metinvest and DTEK among others, which are registered within the Dutch jurisdiction, according to the decision of the Court of Amsterdam (112.international has the copy of the decision).
According to the document, all shares of SCM Management B.V, DTEK Management B.V., DTEK B.V., DTEK Grids B.V., Metinvest B.V., Premium Household B.V.. are frozen.
On our request to comment on the decision of the Court of Amsterdam, the press service of the SCM reported that they had no information on “any new lawsuits against the companies of the SCM apart from the one in the Cyprus court” and the group’s assets continued to operate as normal.
“As far as we understand the information we have relates to the formal execution of the Cyprus court worldwide freezing order on the territory of the Netherlands. Our position towards the Cyprus court order is displayed in our statement on the official website as of January 5th,” the press service reports.
Representatives of the SCM also reminded that the group’s assets were continuing to operate as normal. As reported earlier, on January 5th the company announced it would appeal the Nicosia court ruling that froze the assets worth $820 million. Also, the company explained that according to the court judgment, Mr. Akhmetov and other respondents are free to manage their property as long as their assets remain over $820.5 million (the amount demanded by Raga in the lawsuit).
At the first appearance hearing on January 8th, the Cypriot court set the appeal hearing date for February 27th. The freezing order will remain in place, at the very least, until then.
The assets frozen by the court may include Akhmetov’s apartment in London’s Hyde Park. At the time of the purchase, the apartment was the most expensive residential property in the United Kingdom.