Political risk insurers may benefit from BTA freezing order
A UK court has placed $4bn of Kazakhstan billionaire Mukhtar Ablyazov's fortune into receivership, as he prepares to fight embezzlement claims relating to his time as head of Kazakhstan bank BTA.
The judges found Ablyazov could not be trusted to comply with asset-freezing orders, in part due to his failure to declare ownership of a Russian skyscraper under construction.
"An asset the size of Canary Wharf can hardly have slipped Mr Ablyazov's mind," judges noted.
The alleged fraudster told Bloomberg...
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