A decade-long corporate dispute involving world’s largest ammonia producer – Russia based Togliattiazot (ToAZ) - is now being heard in the Irish High court. Company’s former major shareholders and management – accused of a massive fraud and sentenced to long prison terms by Russian courts - are taking legal actions against its new owner in an attempt to regain control over the firm claiming that all rulings by Russian courts should be ignored. In total, seven Russian courts, involving 37 different judges, ruled that these shareholders and managers of ToAZ had engaged in illegal activity. A Russian court sentenced the Makhlais to 8½ and nine years’ imprisonment respectively but they fled the country before it could be enforced. The resumption of Russian ammonia exports via the pipeline was discussed recently as a part of the Grain deal allowing Ukraine’s grain shipments.

Source: The Herald November 28, 2022 23:44 UTC