uti.is 12 Mar 12: The Kaupthing clients Tchenguiz, Fiyaz and Usmanov: allegations fly in court

Category: Newspaper & Media Reports

“In Praise of Folly” is a book published by Erasmus of Rotterdam in 1509. Happily, businessmen of all sorts are still committing the folly of chasing each other in court, thus exposing their dirty linen in public. The most spectacular recent case of this folly was the clash of the oligarchs Boris Berezovsky and Roman Abramovitch. ...

... But the two oligarchs aren’t the only billionaires willing to stage a public fight at the Royal Courts of Justice. Simon Bower at the Guardian has unearthed some interesting stories from an ongoing court case involving Vincent Tchenguiz and his countryman, confidante, childhood friend and employee Keyvan Rahimian. ...

...

But the names of Tchenguiz, Usmanov and Fiyaz are not only united in the protocols of the Royal Court of Justice. Their names are to be found in Kaupthing loan books – they are all mentioned on the Kaupthing overview of larger than €45m exposures, presented to the Kaupthing management on September 25, 2008 (and later leaked to Wikileaks: Tchenguiz p62; Fiyaz p67; see here on Usmanov and Kaupthing) – the loans to these three allegedly had questionable collaterals.

This case is a further reminder that it’s not only in the present court case that there are untold stories. The feeling is that there are untold stories about the connections between some of the Kaupthing clients and why they all ended up being Kaupthing clients.

 

read Sigrun's blog here

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