A London court slapped PJSC Transneft, the world’s largest oil pipeline company, with an injunction linked to a jailed Russian oligarch’s $13.8 billion claim alleging his business empire was unlawfully seized in a sprawling conspiracy led by the Russian state.
The notification injunction will require Transneft to inform Ziyavudin Magomedov’s lawyers of any significant transactions the company wishes to make, because there is a “real risk” its assets will be siphoned away, Judge John Butcher said in a High Court judgment on Wednesday.
The precise terms of the injunction are yet to be finalized, but it is likely Transneft must give notice of any intention to reorganize or alter its capital structure. However, the order would not need to require the pipeline company to give advance notice of its intention to acquire shareholdings or manage litigation proceedings, the judge said.
Read the full article in Law 360.