DUSHANBE, January 25, Asia-Plus — A litigation pitting the Tajik Aluminum Plant (TadAZ) against Avaz Nazarov, whose company Ansol was the main supplier of alumina to TadAZ is ongoing in the High Court in London.
TadAZ has accused Ansol of misappropriation and claimed that Ansol had overcharged for the supply of alumina. TadAZ has appealed against Ansol asking to freeze Avaz Nazarov’s worldwide assets, along with those of 8 other defendants. Nazarov has disputed TadAZ’s claims of overcharging for the supply of alumina and instead launch a counterclaim for in excess of $200m for violation of the joint venture agreement between Ansol and RusaL (Russian Aluminum).
Last week, British “Metal Bulletin” referring to the Ansol press office released a report that TadAZ had gone back on its earlier appeal for Nazarov’s assets remaining frozen.
As it had been reported earlier, in ruling handed down on October 21 2005 at the High Court in London, Mr. Justice Blackburne overturned the injunction granted by Mr. Justice Etherton on May 13 2005 originally sought by TadAZ. The injunction had ordered that Mr. Nazarov’s worldwide assets, along with those of 8 other defendants should be frozen, and was granted by the judge without notice to any of the defendants.
In December last year, TadAZ noted that it has additional evidences that would allow it out in effect the ruling that was overturned the ruling handed down in October, according to Metal Bulletin. But a couple of weeks later, TadAZ changed its position. As a result, on January 11 2005, Mr. Justice Blackburne granted the injunction ordering to unfreeze Nazarov’s assets.
On January 24, TadAZ’s press service issued press release noting that a court case is still in the preliminary stage and the litigation will be heard not earlier than in late 2006.
