Luxury Mayfair and Kensington properties to be sold in £250m fraud battle, High Court rules

£72 million seized from a Swiss bank account and a portfolio of luxury London properties can be sold off in the pursuit of £300 million stolen by the former head of an international paper company, the UK High Court has ruled. The Kazakstan-based KK Group has spent years chasing its former chief executive, Maksat Arip, after he was found to have siphoned off huge sums of money with the help of chief financial officer Shynar Dikhanbayeva. “This is a momentous milestone in successfully enforcing a very valuable judgment”, said Mark King, Senior Director of Litigation Funding at Harbour, the funder bankrolling the enforcement efforts.

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Request by Italy for Annulment of ICSID Award

Italy is seeking to annul a €190 million ICSID award obtained by Rockhopper Exploration in litigation backed by Harbour Litigation Funding. The funding agreement does not cover any costs arising past the date of the award (23 August 2022), and Rockhopper is currently considering funding possibilities to fund both fighting the annulment and enforcing the award if required.

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