New Media Holding Company LLC; New Media Distribution Company; and Vladimir Gusinski v Konstantin Kagalovsky; Iota LP; Aspida Ventures Ltd; and Seragill Holdings Ltd Supreme Court of New York, Commercial Division (Case 603742/2009)
1 June 2011
High value litigation arising from a joint venture for the creation of a market-leading Ukranian television station, destroyed following the unilateral dilution of key shareholdings and dissipation of assets. Claims of fraud and breach of fiduciary duties against partner and professional offshore trustees. New York Commercial Court gave judgment for plaintiff in the amount of $50m on 10 August 2012. Currently taking steps to enforce this New York judgement in various jurisdictions.