Court freezes Russian businessman's Manx planes

Monday, 12 February 2018 07:41

By Jason Roberts @ChpsChsGrvy

A Russian businessman has had two aircraft worth £8.1 million seized by a Manx court as part of an asset freeze.

Deemster Doyle granted Moscow's VTB Bank an injunction against former Russian senator Aleksandr Sabadash in a battle over two Manx companies which own aircraft registered here.

The court found Mr Sabadash was trying to avoid paying a judgment in his home country and was using Isle of Man company structures to shield the ownership of his assets.

The deemster granted the injunction, meaning the planes can't leave the Isle of Man or be sold off.

More from Isle of Man News

Use your Love IOM card credits before July, urge gov

A government gift card scheme is urging people to spend their outstanding balance - or face losing it.
Almost 200 calls made to mental health charity's crisis line

An Island mental health charity says 198 calls were received over the last six months to its crisis line.
Exhibition featuring local artist's work on display from this weekend

An art exhibition featuring a local artist will open this weekend.
School suspensions being looked into, says MHK

More youngsters are being suspended from school, and the Education Department is looking into it.
Manxman to be swapped with Ben-my-Chree on Thursday

The Steam Packet Company says there's a slight change to its schedules this week.
Teeth survey for children aged five launched

Public Health has launched a survey to find out about five-year-old children's teeth.
Treasury Minister says VAT cuts for hospitality means cuts or tax increase elsewhere

The Island's Treasury Minister says a VAT cut for hospitality businesses would mean service cuts or more taxes elsewhere.
Commissioner ‘refutes’ allegations of misrepresenting Roundhouse access issues

Braddan Commissioners says it ‘refutes’ any allegations that it’s acting in ‘bad faith’ or ‘peddling misrepresentations’ about access to The Roundhouse.