By Lucy Caulkett-
The Uk press have been barred from attending a crucial court case involving a £400m dispute between two Russian tycoon businessmen is to be heard in private, a judge ruled today, after ‘very, very hard-fought litigation’ surrounding confidential financial information was predicted.
In an order handed down this morning at the Rolls Building Mr Justice Males concluded that the huge legal dispute between Alexander Tugushev and Vitaly Orlov involving ownership of a £1.2bn fishing company should be heard in private to confidentiality issues.The ruling came after the judge considered an application from stinking rich Orlov for the press to be denied permission to cover his very interesting case. During the application, brought in relation to an alleged freezing order overlooked by orlov, he submitted an application raising concern that confidential information relating to his personal wealth and finance was likely to be disclosed in the process. Such disclosure is normally at the disposal of any sitting member of the press, free to be fed to the public just like any other case involving high profile cases like that of celebrities. However, his application was granted to his pleasure.
Tugushev’s submission was that he had been the victim of ‘corporate raiding’ and manipulation, and that there was no foundation to the claim that the case should be heard in private. Mr Justice Males concurred wit Orlov that confidentiality issues may arise, adding that he would decide at a later date whether to give judgment in public. There seems to be no valid grounds to deny the press the freedom of expression normally afforded in other cases involving public figures. Neither of the Russians party to this case are known public figures, but the details of their dispute comfortably passes the public interest test. Orlov’s application for confidentiality should have failed, especially in the light of the serious claims against him.
AD: Capeesh Restaurant
The public have a right to be informed about case like this which they can also learn from for the future.Billionaire Orlov is caught up in a big legal dispute over a stake in the Norebo Group , which stands as one of the world’s largest international fishing enterprises. Orlov took control of Norebo in 2016 but Tugushev claims his one-third stake in the company is being overlooked. In July, a court order against Orlov froze £270m of his assets, until the conclusion of this riveting case. Orlov, represented by Paul Sinclair QC of Fountain Court Chambers, instructed City firm Macfarlanes, is fighting this case wit every ounce of determination- he has hired one of the best legal counsel in the field; one who has additional highly experienced and specialised legal counsel supplementing the already high expertise eon the ground.
Orlov’s barrister acknowledged that the case will likely involve ’very very hard-fought litigation’. He further submitted that the case should be heard in private on two grounds: a potential breach of confidentiality and it is in the interests of justice to avoid such breaches.
Tugushev, submitted that his client had been the victim of ‘corporate raiding’ and manipulation. He added that there was no foundation to the claim that the case should be heard in private.
AD: Oysterian Sea Food Restaurant And Bar
Mr Justice Males said he was satisfied that confidentiality issues may arise and that he would determine at a later date whether to give judgment in public.
UK firm Peters & Peters is instructing Richard Slade QC of Brick Court Chambers on behalf of Tugushev while Orlov is represented by City firm Macfarlanes
AD: Heritage And Restaurant Lounge Bar