Boris Mintz complains of poverty to the London court

Participant in the Forbes list, Boris Mintz, told the High Court in London that he needed over £ 10,000 a week for his daily expenses (he is entitled to spend that amount by decision of a British court). The businessman believes that pressure is exerted on him and his family.
22.07.2019
Forbes
Origin source
“While spending £ 10,000 a week is a significant amount for the average person, it’s not enough to cover the respondents’ daily expenses. ” So the family of Boris Mints, the owner of the O1 Group and the former shareholder of NPF Future, asked the London court to increase the amount they are allowed to spend after the London court arrested its assets by $ 572 million according to the Bank’s non-core assets Trust. This is stated in the appeal filed in the High Court of London, with which Forbes got acquainted. Mintsy appealed the decision to arrest the assets, and the court replaced the arrest with an obligation not to alienate the property that Mintz and his sons took over in the courtroom.

In the complaint, the Mintsev family lists the difficulties and problems that arose as a result of the arrest. In particular, they appeal to the amount left for them to live - this is £ 10,000. "The purpose of the arrest of assets is not to force the defendants to live in cramped circumstances or to be unable to fulfill obligations to third parties," the complaint says.

Among the problems that have arisen due to the freezing of assets, Mintz and his sons mention difficulties with payments made by four hotels in London owned by them.

In October 2018, RBC wrote with reference to the British register of legal entities that the family of Boris Mints acquired the DoubleTree by Hilton Cheltenham spa hotel in the UK, 150 km from London. In addition, the accounts of the management company EG were frozen.

Capital Advisors, in which Alexander Minz and Igor Mints each own 42.5%. She was just in the process of obtaining a British license. This company, the complaint says, not only manages the Mintsev family trust, but also money from outside investors. “This damage is difficult to estimate now, but it can amount to tens of millions. It is unacceptable that such damage was caused to ordinary enterprises and investors, ”the document says. Moreover, JP Morgan, which provided leverage to EG Capital Advisors, immediately demanded a refund, respondents complain. Only for the Mintsev Trust, the loan was $ 2.5 million.

“The order on the alienation of assets turns the respondents' lives upside down. The last two weeks the Mintz family had to spend working to provide the court with all the information about the assets, counting their weekly living expenses, and trying to prevent serious damage to their business. Much time is wasted, ”respondents complain.

The claim of Bank Trust in the High Court of London is connected with the purchase of Otkritie FC by the bank (whose bad assets have now been transferred to Trust) of the bonds of one of the structures of the O1 Group, O1 Group Finance, worth 35 billion rubles. The plaintiff believes that the transaction, completed in August 2017, shortly before the bank was reorganized, was non-market and brought losses to Otkritie. The same bond purchase is the subject of litigation at the International Commercial Arbitration Court in London (LCIA). Boris Mintz told Forbes through a representative that the fact of the institution of two identical lawsuits against him is the pressure on him and his sons Dmitry, Alexander and Igor.

Mintz argues that he agreed with the "Discovery" to understand precisely the LCIA and is not satisfied with the lawsuits filed in Russia by the Central Bank. The statement by Mints stated that he now came to an agreement with the plaintiff that the proceedings will continue in London in April 2020. In fact, Mintz explained to Forbes that the conditions on the bonds should have improved in September 2017 - the rate would increase and the maturity would be reduced. Agreement on this was reached in August, says Mints.
 

Business

Previous Article
Next article