The KK Group brought these claims to the London High Court in 2013, after finding evidence that entities connected to the Defendants had syphoned off funds raised by the KK Group.
The frauds left the KK Group in a very difficult financial situation. In 2015 KK Group obtained litigation funding from Harbour Fund III, L.P (one of the largest global litigation funders) to fund the claim. After four extremely challenging years, the KK Group has finally obtained a successful judgment.
In his judgment, Mr Justice Picken has held that:
Kazakhstan Kagazy PLC’s CEO, Tomas Mateos Werner, commented: “This judgment is a resounding victory for the KK Group, which has fought to prove the claims since 2013. Having turned around the fortunes of the business, we now look forward to enforcing the judgment and repaying our creditors. This victory would not have been possible without the unwavering support of KK’s employees, clients, funders and creditors.”
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Follow the link to see full judgement.