FCI opens Saudi Arabian operation

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City firms claimed £14m costs in oligarch case

first_imgMr Justice FancourtCity law firms representing two oligarchs accused of a multi-billion-pound fraud at a now state-owned Ukrainian bank claimed around £14m in costs after successively arguing that the case should not be heard in London.In a judgment on costs published this week, Mr Justice Fancourt awarded a portion of the claimed costs, around £8.4m, to businessmen Igor Kolomoisky and Gennadiy Bogolyubov and five businesses to which they have or have had connections.The judgment shows that international firm Fieldfisher, which represented Kolomoisky, claimed around £9m. Bogolyubov, now represented by Enyo Law and previously by Skadden, claimed £2.9m, while lawyers for the five companies claimed £2.1m.After considering the ‘very very substantial’ costs, Fancourt J awarded interim payments of £4m (Kolomoisky), £2m (Bogolyubov) and £1.5m (the five companies). The costs judgment comes after the High Court ruled in PJSC Commercial Bank Privatbank and Igor Valeryevich Kolomoisky & Others, that the English courts do not have jurisdiction to hear the claims by PrivatBank.A worldwide freezing order for misrepresentation and non-disclosure previously obtained by the bank was also stayed. The oligarchs deny any wrongdoing.PrivatBank, represented by international firm Hogan Lovells, has said it will appeal the ruling.Assessing the £9m costs, Fancourt J said the sum was hard to quanitify as there is ‘no costs schedule equivalent to the kind of schedule that is produced on a summary assessment.‘The short schedule that has been produced provides very little detail at all. It contains, for example, single items for work done on documents for 7,107 hours and 58 minutes, amounting to £2,008,000 of fees, and in another part of the schedule another 4,506 hours of work done on documents for £1.55 million of fees,’ Fancourt J wrote.Fancourt J also rejected a claim by PrivatBank that the fees be placed into a solicitor’s holding pending the outcome of any appeal. ‘At this stage it is clear that very substantial amounts of money have been spent by the defendants on legal fees. It seems to me appropriate, on the basis of my findings, that they should have those interim payments on account of costs at this stage,’ his judgment found.last_img read more

Magnus Carlsen reveals next move to launch a new era of $1 million online chess tour

first_img Arnold Dsouza COMMENT First Published: 15th May, 2020 18:11 IST LIVE TV The internet is here to stay!https://t.co/S5LG0BUsXO pic.twitter.com/DS0zvVVz7P— Magnus Carlsen (@MagnusCarlsen) May 14, 2020 ALSO READ: Online Chess: Viswanathan Anand Rested As India Lose To ChinaMagnus Carlsen IQ: Magnus Carlsen Online Chess TourChess grandmaster Magnus Carlsen recently announced the launch of the ‘Magnus Carlsen Chess Tour’ on May 14. The 29-year-old Norwegian created an invitational online chess tournament last month for fans with the total prize money of $250,000. The aim was to keep fans at home occupied during the coronavirus lockdown. The online chess tournament began on April 18 and ended on May 3 as Magnus Carlsen himself won the inaugural tournament. However, fans weren’t too surprised with the results given the Magnus Carlsen IQ is considerably higher in comparison to an average human.ALSO READ: GM Iniyan To Organise ‘Chess Marathon’ To Raise Funds For COVID-19 ReliefMagnus Carlsen standings: Magnus Carlsen Online Chess TourAccording to ScoopWhoop, the Magnus Carlsen IQ clocks in at 190. The staggering Magnus Carlsen IQ puts him in the category of the top 20 smartest people in the world. Magnus Carlsen’s peak classical rating of 2882 is the highest in history and the Chess World No 1 recently broke the record for the longest unbeaten streak, making it 111 games without defeat.ALSO READ: Over 25 Grandmaster To Take Part In Indian Chess League From May 15Magnus Carlsen Chess Tour: Schedule for online chess TourFollowing the success of the first online chess tour, Magnus Carlsen now wants to combine three more online chess tournaments – including the Magnus Carlsen invitational last month – to create an astonishing prize fund of $1 million for the final winner. This will be the highest ever reward for winning an online chess tour and the finals will take place between August 9-20. The top four players from the inaugural chess tournament will qualify for the next ‘major’. Carlsen, along with Hikaru Nakamura, Ding Liren, and Alireza Firouzja will feature in the next major online chess tournament. Here is the schedule for the three major online chess tours including the final: Lindores Abbey Rapid Challenge (May 19-June 3) – $150,000Online Chess Masters (June 20-July 5) – $150,000Legends of Chess (July 21 -August 5)  – $150,000Grand Final (August 9-20) – $300,000Magnus Carlsen Chess Tour: Magnus Carlsen online chess tour finaleWinners of the individual tournaments will progress through to the grand final. The $250,000 from the invitational chess tournament will be added to the prize money for the other four tournaments. The total prize money for the winner of the final will be a staggering $1 million. ALSO READ: Online Chess: Viswanathan Anand Rested As India Lose To China Last Updated: 15th May, 2020 18:11 IST Magnus Carlsen Reveals Next Move To Launch A New Era Of $1 Million Online Chess Tour Chess grandmaster Magnus Carlsen is prepared to combine four online chess tournaments and reward the winner with a staggering $1 million prize.center_img World Chess Champion Magnus Carlsen is set to boost the popularity of his sport amid the coronavirus lockdown. It is reported that the ‘Magnus Carlsen Online Chess Tour’ will combine the four major online chess tournaments with the grand finale set to take place in August later this year. The prize money for the Magnus Carlsen chess tour would amount up to a whopping $1 million – the highest reward for winning an online chess tournament. SUBSCRIBE TO US WATCH US LIVE FOLLOW US Written Bylast_img read more

Bramley on fire at Phoenix

first_imgThere were two 2s, coming from Duncan McLean with about a 2ft putt, and John Nicholas.  Wednesday, Jan. 11, Green Valley – 2 Person ScrambleWe take every opportunity to blame global warming for any unusual event on our planet but who would have thought that we would have 24 hours of rain in January in Pattaya?  As a result it might have been a good idea to have wellington boots instead of golf shoes for we were welcomed at the course by heavy rain.  This quickly disappeared but made an unwelcome return half way round encouraging us to take shelter for 40 minutes and, when we ventured forth, you soon discovered if your shoes were waterproof and some difficulty finding areas that were not under water.Murray Hart was due to return to Australia on Jan 13 and to say a fond farewell to the Billabong he agreed with Capt. Bob to have a 2-person scramble and he would generously donate some prizes.  It was a welcome change to the usual stableford format and was well supported by the Billabong regulars.With the heavy rain interrupting proceedings, the scores could have been better but Joseph Schuler and Miss Poopay left everyone in their wake with a net score of 61.8, which included 5 birdies on the front nine and a score of 66 with a 4.3 handicap.  In second place was Freddie Starbeck and John Nichols with 64.8, third place went to the Ritchie family, Greig and Gary with 66.4, just ahead of Tony Oakes and George Barrie with 67.4.The ladies had their own competition with Miss Tan taking no prisoners with 42 points, well ahead of Miss Pin occupying second place with 36 points but requiring a count-back to push Miss Nu into third place.There was only one ‘2’ which went to Miss Yen. Friday, Jan. 13, Crystal Bay – StablefordCrystal Bay was the venue for this day out, and considering the amount of rain during the week, the course was in surprisingly good condition.  There were some soft spots here and there but nothing to get upset about and the course was packed full so a long day was in store.With 7 groups playing we started a little early and thanks must go to the efficient staff members who look after the golfers.  One member of our group, George Barrie, almost got the hole in one still missing from his list of golfing achievements, his effort here stopping just 6 inches short of the cup.The scores were not too bad with nobody breaking their handicap.  There was a count back for third place between Geoff Parker, Dave Bramley and George Barrie with Geoff being the one left out, George taking fourth and Dave the bronze, all with 35 points.  There was also a count back between Miss Tewin and Alistair Gall for the top two spots, Alistair being edged out by Tewin after they were tied on 36 points each.There were three ‘2’s, coming from George, Dave Bramley and Andrew Woodall.center_img Golf from The Billabong BarMonday, Jan. 9, Phoenix – StablefordSlightly wet underfoot at Phoenix today and highly unusual for this time of the year to be getting rained on, but the last of the Billabong group just made it before the rain belted down.  The scores were very good due to the soft conditions – you could really have a go at the flags.  Playing Lake and Ocean it was no carts on the fairways so a little bit of walking was required, but it turned out to be a snappy round with no holdups at all.Capt Bob, Dave Bramley and John Anderson.It was a surprise to come round to the 4th tee to see a driver floating in the lake alongside the tee box.  It turned out it wasn’t thrown in anger but was a practice swing from Freddy and it slipped out of his hand.  A couple of minutes later a little lady staff member swam out and returned the runaway club to its owner.Anything under 40 points didn’t get a mention today, with Capt Bob scoring 40 points to take third place, John Anderson, playing his best round of golf for some time in second with 42, Dave Bramley filling top spot with 43 even after he blobbed the last two holes.Miss Poopay (left) with Joseph Schuler.last_img read more

Retribution for the rejected

first_imgBy RUSSELL BENNETT SKIPPER Corrie Wilson couldn’t put it into words and club matriarch Jenny Davis didn’t even try. They…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

Prized hoofs on show

first_imgTHE Hoof and Hook competition run by the Parklea Pakenham and District Agricultural and Horticultural Show Society will be again…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img