This week Stephen Houseman QC is joined by Tim Akkouh and James Sheehan, for a discussion about ‘the extraordinary’ case of JSC BTA Bank v Mukhtar Ablyazov and associated litigation.
The Ablyazov litigation included a series of claims brought by JSC BTA, a Kazakh bank against its former Chairman, officers and associated individuals and companies alleging the misappropriation of about $5 billion between 2005 and 2009. The first claim was issued in August 2009; the case went to the commercial court on 20 occasions and twice to the supreme court. The proceedings as a whole were characterised by intense interlocutory fighting and is described by one presiding judge as ‘being fought by the forensic equivalent of trench warfare.’
Tim was instructed by the bank in 2009 and James was instructed by Mr Ablyazov from 2010.
With thanks to Katherine Ratcliffe, junior tenant at Essex Court Chambers for her research for this episode.
The music used in this podcast is “Upbeat Party” by scottholmesmusic.com