Paper Co. Can't Lock Down Ex-CEO's Assets Amid Fraud Fight

Law360, London (January 30, 2020, 1:05 PM GMT) -- A judge has dented a Kazakhstan paper conglomerate’s hopes of recouping some of the £300 million ($392 million) its former chief executive owes for defrauding the company, ruling on Thursday that a trial will decide who is the true owner of several luxurious properties.

Judge Andrew Baker threw out an attempt by Kazakhstan Kagazy at the High Court to have a charging order imposed on six properties in affluent London neighborhoods allegedly held by the wife and children of its former chief executive, Maksat Arip.

The company wants to force the sale of the properties, worth a combined £60 million, arguing...

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