Fishy Business: Russian Tycoon Vitaly Orlov Faces Possible Loss Of Billionaire Status As London Court Battle Nears Its End

  • 📰 Forbes
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

In a long running battle with his business partner, Russian billionaire Orlov could lose a large chunk of his fishing empire.

that the UK immigration authorities “acknowledged that this arrest was politically motivated” when granting Mr Tugushev a visa in 2018, adding “Mr Tugushev was one of many victims of politically-motivated allegations in Russia” and he denies any wrongdoing.The Norebo case, which has swayed back and forwards in favor of Orlov and his former friend since 2018, saw the granting of an order freezing $350 million of Orlov’s assets on July 23 that year. However in July 2019 a U.K.

Roth, it’s worth noting, has been embroiled in a legal battle with Orlov and in August this year seafood trade publicationreported that a judge in Hong Kong had ordered Roth to buy Orlov’s 50% share in fishing and transport company TTC. The statement adds, “Now that Mr Roth has confirmed that Mr Tugushev is legally entitled to one-third of the joint venture, Mr Orlov’s position is completely untenable.” Seemingly willing the billionaire to the negotiation table, the statement adds, “Mr Tugushev looks forward to continuing his claim in the London High Court to secure the full restoration of his rights and compensation.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good Business

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russian business is pinning 'a lot of hopes' on a reset with the US this yearChief executives of some of Russia's most influential companies are hopeful that Washington and Moscow could reset relations this year. 'Hopes'/'threats' - they're so similar. Since Trump has delivered on most of Putin's demands - I'm guessing Trump Tower Moscow will soon become a reality...and Trump's wet dream will finally come true 😉 Uncle Vlady can go pounce sand!
Source: CNBC - 🏆 12. / 72 Read more »