TWO LAWYERS from Ukraine blatantly “disobeyed and defied” a prohibition from the High Court in Belfast on the disposal of eastern European property linked to bankrupt ex-billionaire Seán Quinn, it was claimed yesterday.
Counsel for the Irish Bank Resolution Corporation also alleged the pair had made no attempt to correct a breach undertaken to secure a $45 million (€34 million) claim against a Ukrainian shopping centre. The accusations were made as contempt proceedings began against Dmitri Zaitsev and a Mr Serpopkrylov, legal representatives of the British Virgin Islands-registered Lyndhurst Development Trading.
IBRC, the former Anglo Irish Bank, is seeking control of Mr Quinn’s international empire as part of its attempt to recoup more than £2 billion (€2.4 billion).
Lyndhurst was prohibited from enforcing any loan agreement or dealing with debts surrounding the mall in Kiev under the terms of an emergency injunction granted in Belfast on December 23rd.
It is alleged that later the same day the order was ignored at a hearing in Kiev. In a blow to the bank, Lyndhurst secured judgment from the Ukrainian court that it was entitled to enforce a $45 million debt against the firm which owns the mall, Univermag.
