23rd February 2015

Vladislav Doronin, the majority investor in the Aman Group, has taken another key step in the battle over the Aman Group. At the High Court in London on Friday (20th February 2015) Mr Justice Henderson ordered that Omar Amanat’s company PHRL pay into Court approximately $US 5 million as security for costs in respect of its claim against Mr Doronin’s company and the other defendant, Sherway.

The Court ruled that it was reasonable to conclude that PHRL may not be able to pay costs should it lose at the trial which is expected to take place later this year. This is a serious blow for Mr Amanat’s company which now has 14 days to pay the sum and failure to pay could lead to its claim being struck-out.

In making the order Mr Justice Henderson made a number of comments regarding his assessment of both Mr Amanat’s character and the finances of his company PHRL. the Judge referred to “Mr Amanat, who has an established record of dishonesty” and in deciding that it was correct to make the order the Judge said that Mr Doronin’s company was being sued by, “a BVI Company, which is unable to show that it has any unencumbered assets of any substance, and which appears to have taken steps designed to denude itself of most of its liquid resources.”

Mr Justice Henderson added, “the evidence about its financial position which PHRL has chosen to place before the court is both scanty and unsatisfactory, giving rise to many questions which demand (but have not received) an answer’. He concluded that it was “overwhelmingly clear that there is indeed reason to believe that PHRL will be unable to pay the relevant defendants’ costs if ordered to do so”.

PHRL’s own application for security for costs was dismissed and PHRL was ordered to pay Mr Doronin’s company’s costs.

Mr Doronin said, “I am delighted that we are starting to show the true picture of Omar Amanat’s way of operating, and look forward to being fully vindicated at the trial taking place later this year”.