A multi-million-pound dispute between two Russian businessmen is to return to court this week where it will be alleged that the terms of a freezing order have been violated.
Russian businessman Alexander Tugushev is challenging billionaire Vitaly Orlov over a stake in the £1.2bn fishing company Norebo Group - one of the largest international fishing enterprises in the world.
Orlov took control of Norebo in 2016 but Tugushev claims his one-third stake in the company is not being recognised.
An order against Orlov, freezing £270m of his assets, was granted late last month and both men’s legal representatives appeared in court.
There, Orlov did not challenge the order but requested that any information he does provide about his assets should handed over only to Tugushev’s legal team as there is ’a well-founded fear’ that the asset disclosure will be used for a ’collateral purpose’. He has until September to lay out his full evidence.
However, the Gazette understands that Tugushev, represented by City firm Peters & Peters, will on Friday claim that Orlov has violated the order’s terms. The exact line of arguments have not been disclosed.
Peters & Peters is instructing Richard Slade QC of Brick Court Chambers on behalf of Tugushev while Orlov is represented by City firm Macfarlanes.