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.
Mystery after oily birds found in Peel
Laxey move announced for well-known jewellers
Island boxer to donate fight proceeds to homeless children
Your plaice or mine? None next year, say scientists!
Creamery director calls time on a grate career
New video warns drivers de-restricted doesn’t mean no rules
Education review praises schools but identifies four areas for improvement
Infrastructure Minister says major roadworks are coordinated
Comments
Add a comment