The FINANCIAL - JSC BTA Bank Welcomes High Court Judgement Committing Mukhtar Ablyazov to Prison

JSC BTA Bank Welcomes High Court Judgement Committing Mukhtar Ablyazov to Prison

18/02/2012 03:15 (93 Day 05:16 minutes ago)

The FINANCIAL -- JSC BTA Bank welcomes the decision by the English High Court today to imprison its former chairman, Mukhtar Ablyazov, for serious contempt of court.

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BTA Bank issued committal proceedings against Mr Ablyazov in the English High Court on 16 May 2011 as part of its efforts to recover $5 billion in assets.

According to BTA Bank, the committal is aimed at forcing Mr Ablyazov to comply with the court’s orders requiring him to fully disclose his assets, cease dealings with assets, and repatriate any assets which were disposed of in breach of the orders.

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