Sun, Apr 22, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Libel suit against Bill Browder thrown out by British court

Monday, October 14, 2013
Opalesque Industry Update - Law and Order In Russia reports that the UK court has thrown out Russian Police Officer Pavel Karpov’s libel suit against Bill Browder, in what the site describes as ‘the most egregious case of libel tourism in British history’.

The UK High Court threw out the libel suit filed by unemployed Russian ex-police officer Pavel Karpov against William Browder, Hermitage Capital and Jamison Firestone, as an abuse of the court process.

“I have concluded that these proceedings should be struck out as abuse of the process and/or under the inherent jurisdiction,” said presiding Judge Simon in the judgement read out today in the UK High Court.

The judge found that there was ‘a degree of artificiality’ about Karpov seeking to protect his reputation in the UK. The ruling also stated that the claim should be thrown out because Karpov had little connection to the UK and the UK court would not be a proper forum to decide on Karpov’s inclusion in the US Magnitsky list. The judge said that the impact of any UK judgement “would be unlikely to assist (let alone achieve) the most important of the Claimant’s stated objec­tives: his removal from the Magnitsky list.”

Karpov is subject to a U.S. asset freeze and U.S. visa ban for his role in the Magnitsky affair under the Sergei Magnitsky Rule of Law Accountability Act of 2012. One of the key issues in the proceedings was how an unemployed Russian ex-police officer could afford to hire some of the most expensive libel specialists in the country, including Geraldine Proudler, partner of the Olswang law firm, Andrew Caldecott QC, and the public relations specialists from PHA Media. Karpov refused to disclose to the UK court who was financing his legal operations.

The site says that the British court system has been systematically abused by libel tourists from around the world to exploit the ‘pro-claimant’ bias of the English libel law. In this case, an unemployed Russian ex-police officer associated with a Russian organized crime group responsible for the theft of $230 million and the false arrest and killing of 37-year old Sergei Magnitsky, then tried to use the British courts to stifle the campaign to get justice for Sergei Magnitsky’s torture and murder in custody.

“What is particularly abhorrent about the Karpov libel suit is that reputable English solicitors and barristers would effectively become mercenaries to assist corrupt Russian officials persecuting their victims outside Russia,” said a Hermitage Capital representative. “Thankfully, the court took a decision which reflects natural justice and common sense.”

Opalesque last reported on Bill Browder’s campaign in May. You can read that piece here.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its