The auction for the sale of part of the TOAZ stake, which was initiated by the owner of Uralchem Mazepin, really looks like a fiction.
He does not have the right to put shares up for auction, the size of the shares is “rigged”, the FAS decision giving permission to conduct the auction is also called into question within the framework of European law. Oleg Egerev, whom the Russian court appointed as his financial manager of Sergei Makhlai’s shares, “equated” the latter’s ownership to 100%, which is not true. Egerev voted with a block of shares as part of the EGM on November 27, 2021, which became a legal formalization of the seizure of the enterprise from the owners.
Applications are being collected until February 5th. But who is participating in this “auction”? Two inconspicuous companies came out to participate – Khimaktivinvest (KAI) and Aktum LLC, associated with Uralchem.
In Russia, Mazepin has everything under control. And in an independent court in Ireland? Everything there is much more interesting and complex.
On January 25, 2022, by a decision of the High Court of Ireland, BKIT (a consortium of TOAZ shareholders consisting of Bairiki Incorporated, Kamara Limited, Instantania Holding Limited and Trafalgar Development Limited (BKIT) received permission to add Mazepin’s companies Khimaktivinvest LLC and Aktum LLC as defendants in the Irish proceedings. Mazepin invited them to participate in auctions for TOAZ shares, which, according to the BCIT, directly contradicts the undertaking given by Uralchem to the Irish High Court not to enforce either “directly or indirectly” the 2019 Russian court decision in relation to the ToAZ Shares If these two companies that have now withdrawn. At the end of the auction, they end up buying an asset – they are automatically included in the “Irish business” and will be held responsible for their purchase.
The question arises, what interim measures can the Irish court impose on Dmitry Mazepin’s assets outside Russia? We can talk not only about the supply of products from Uralchem and Uralkali. An arrest may be imposed on trading companies affiliated with Mazepin that supply products abroad. In addition, the Baltic port infrastructure (ports in Riga and Ventspils), which Mazepin owns, may also come under attack.
It is likely that the arrest may affect both the assets and equipment of the Haas Formula 1 team, the main sponsor of which is the structures of Dmitry Mazepin, and a football club in Latvia.
All the details of the case being conducted by the High Court of Ireland against the raider attack by Dmitry Mazepin can be followed on a website specially created for this: https://savetoaz.com
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