The battle between companies in the Sovcomflot group and its former CEO Dimitri Skarga and the Russian shipowner Yuri Nikitin continues. Sovcomflot claims includes conspiracy, bribes and fraud. London High Court has ordered that a further USD 377 million of Nikitin’s assets are frozen, in addition to USD 208 million already secured. The court also froze USD 112 million for Skarga, although he claims that he has no assets. The Sovcomflot claims include irregularities in charter parties, newbuilding orders, secondhand sales etc. Sovcomflot claims that Nikitin has earned USD 315 million in the spot market with four tankers time-chartered from Sovcomflot at very low rates. An experienced broker has in a concultancy report on the charter deals described the charter terms as “completely inconsistent with common market practice” and prolonging options as “irrational”, “unbelievable generous” and “defied logic”.
Sovcomflot is also allowed to expand the case with claims on the Russian bank RCB, which is alleged to have sold a Sovcomflot lon for 45 cents to the dollar to a company linked to Nikitin, which later sold it to Sovcomflot for 61 cents to the dollar. Also brokering firm Clarkson’s has been dragged into the case, accused for having collaborated with Nikitin and having added an extra commission above the normal in a number of ship deals.
Sovcomflot is also allowed to expand the case with claims on the Russian bank RCB, which is alleged to have sold a Sovcomflot lon for 45 cents to the dollar to a company linked to Nikitin, which later sold it to Sovcomflot for 61 cents to the dollar. Also brokering firm Clarkson’s has been dragged into the case, accused for having collaborated with Nikitin and having added an extra commission above the normal in a number of ship deals.
