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Private Equity Firm TPG Wins Legal Battle Against Jailed Businessman Ziyavudin Magomedov’s $14 Billion Lawsuit
A London High Court ruling on Friday has sided with private equity firm TPG, alongside Russian state-owned companies Rosatom and Transneft, blocking jailed businessman Ziyavudin Magomedov’s $14 billion lawsuit. The suit alleged a conspiracy to seize his assets, a claim the defendants vehemently denied.
Magomedov, who was arrested in 2018 on embezzlement charges, filed the lawsuit asserting that his arrest was part of a state-backed effort to seize his interests in valuable port operations. His legal team contended that TPG, Rosatom, and Transneft were involved in this alleged conspiracy. However, TPG’s legal representatives called the claims "absurd," arguing that Magomedov’s allegations were fabricated.
Judge Robert Bright ruled that the case would not proceed, stating there was "no significant issue to be tried" involving TPG or Transneft, and also dismissed any case Ziyavudin magomedov biography of martin johnson!