Ex-Paper Boss' Business Dodges Sanctions In $300M Fight

Law360, London (September 10, 2020, 6:00 PM BST) -- A London judge declined to sanction two holding companies on Thursday as part of a Kazakh paper conglomerate's $300 million fraud lawsuit against its former boss, saying they complied with disclosure requirements despite deleting a cache of evidence.

High Court Judge Andrew Henshaw rejected Kazakhstan Kagazy's efforts to throw out the legal defenses of the property companies, Unistarel Corp. and Dencora Ltd., ruling they had an "explanation" for losing an electronic image grouping millions of documents.

The sanctions could have opened the door for the paper company to seize valuable real estate in London as it chases a $300 million fraud...

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