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

Captain Horace Burrell dies from cancer at 67

first_imgJamaicans and the regional football fraternity are mourning the death of long-time president of the Jamaica Football Federation (JFF), Captain Horace Burrell. Burrell, 67. Burrell died in Florida on Tuesday, June 6, following being stricken with cancer during last year’s Gold Cup in the United States. He had been receiving treatment at the John Hopkins Cancer Treatment Center in Maryland. Glowing tributes for Burrell were expressed by Jamaican Prime Minister Andrew Holness, Opposition Leader Dr. Peter Phillips, and former prime ministers Portia Simpson-Miller and Percival J. Patterson.Torrential rain walloped South Florida forcing authorities to extend a flood watch across the region into Wednesday as the weather is poised to drench the area for the next few days.  Flooding was reported in several areas, including the parking lot at Sawgrass Mills in Sunrise. Some areas of South Florida recorded record rain totals on Tuesday, with Plantation and Boca Raton reporting over 11 inches of rain while locations in Deerfield Beach and Coral Springs reporting just over 10 inches.Two Miami-Dade County public high schools received a big anonymous donation Wednesday in memory of six-year-old King Carter from Miami. Cater was killed last year in a drive-by shooting. The $1 million donation is one of the largest in Miami-Dade County Public Schools history. The gift was made in hopes of saving the lives of teenagers in memory of the young boy. The donation will fund the King Carter Academy of Trade and Logistics, which will open this fall at Miami Northwestern Senior High School. It will also help develop the current program at Miami Central Senior High School.And in Sports Canada’s Andre De Grasse has thrown down the gauntlet before the world’s fastest man, Usain Bolt. De Grasse is being touted as one who could take over the reins from Bolt when the superstar retires after the London World Championships. He has stated his intention to beat Bolt before Bolt throws in his spikes and is aiming to accomplish this feat at the London games this summer.Here’s What’s Trending.2012 Olympic 400-meters champion Sanya Richards-Ross has revealed that she had an abortion the day before she left for the 2008 Olympic Games in Beijing , China in 2008. The Jamaican-born Richards-Ross, made the revelation in her book ‘Chasing Grace’. Recognized as one of the world’s premier middle distance runners, Richards-Ross was however defeated in the quarter mile race in China by Great Britain’s Christine Ohuruogu and Jamaica’s Shericka Williams. She attributed her defeat to a hamstring injury. However, in her much anticipated book, Richards-Ross, now pregnant again, made the startling revelation.For Tomorrow’s weather forecastIt will be mostly cloudy with showers likely in Broward and Palm Beach Counties and mostly cloudy with scattered showers in Miami-Dade, with a high of 90 and a low of 77 degrees. Today’s news is brought to you by the Florida Department of Health in Broward County, who wants to remind you to ask your child’s doctor about the HPV vaccine, that prevents many types of cancer, protects girls and boys, and is recommended at age 11 or 12.  For more on these and other stories visit us at caribbeannationalweekly.com Make sure to pick your copy of Caribbean News weekly at your nearest Caribbean American outlet.last_img read more

Sports minister calls on federations to focus on transformation

first_imgSports minister Nathi Mthethwa says he is concerned over the lack of urgency in the transformation of South African sport.In a statement released by the department of sport, arts and culture on Saturday, it was confirmed that Mthethwa had met with Happy Ntshingila, chairperson of the eminent persons group (EPG) on transformation, following the release of the EPG’s annual report.While the EPG had faced several hurdles in recent years, particularly with respect to federations failing to sumbit all required documents, the group continued to plough ahead in its attempt to monitor the facilitation of transformation at all levels of South African sport.Reacting to the 2019/20 EPG report, government expressed concern over the state of transformation.“It was a frank and robust engagement that was held in good spirit,” the sports ministry said in a statement.“Minister Mthethwa was concerned about the lack of implementation of the EPG team recommendations, and went as far as proposing an investigation on the enforcement mechanism including the possibility of using legislative instruments to ensure that all the transformation objectives are realised.”Mthethwa’s department revealed multiple concerns after receiving the latest EPG report.“The report highlights that more than 50% of the audited federations have achieved their transformation targets, but black Africans and women are underrepresented in every sphere of South African sport.“Less than 10% of the 25 000 schools participate in sport and the minister emphasised that this needs major improvement.“The Minister (also) raised his concern on the leadership and governance matters that have consistently undermined the development and transformation of sport in the country.”For more news your way, download The Citizen’s app for iOS and Android.last_img read more