Asset recovery

About the asset recovery programme

BTA Bank is conducting an extensive asset recovery programme to reclaim embezzled assets from Mukhtar Ablyazov, the former Chairman of the Board of Directors at the Bank. The assets amount to over $6 billion and are made up of a complex network of companies, funds and real estate assets held in multiple jurisdictions around the world.

In orchestrating this misappropriation of BTA Bank’s assets, Mukhtar Ablyazov relied on a network of associates and accomplices and in order to recover the assets, the Bank has brought legal actions against Mr Ablyazov and these associates.

In conjunction with the Banks’ creditors it was agreed that the Bank should invite experienced consultants to help devise the asset recovery programme alongside leading international auditors and law firms in order to bring the process to the UK where judgments are more likely to be upheld internationally.

BTA Bank has made substantial progress in recovering the stolen assets and has so far been granted over $4 billion worth of judgments against Ablyazov and his associates by the UK High Court. The Bank is committed to pursuing the process until all misappropriated funds have been reclaimed.

For further information about the asset recovery programme, please contact:

Russia:

Ms.Mariya Yaremenko or Mr. Artem Vazhenin at: +7 495 9333000, Moscow office of Hogan Lovells law firm.

Great Britain:

Mr. Chris Hardman at: +44 7296 5878 or Richard Lewis at: +44 7296 5038, Head Office of Hogan Lovells law firm.

Ukraine:

Mr. Roman Marchneko at: +380 44 494 1919, Ilyashev & Partners law firm.