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By John Helmer, Moscow Sovcomflot, Russia’s state-owned shipping company and one of the largest oil and gas tanker operators in the world, has today been ordered by a London court to pay compensation of $70 million, plus legal costs, to Russian shipowner and Sovcomflot’s former charter partner, Yury Nikitin. The penalty, imposed by Justice Sir […]

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By John Helmer, Moscow The Russian state shipping company Sovcomflot and its chief executive Sergei Frank (lead image, right) have been ordered to pay “tens of millions of dollars” in punitive compensation to exiled shipowner, Yury Nikitin (left). A UK High Court judgement late last month concluded a record 11-year litigation by condemning Frank’s dishonesty […]

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By John Helmer, Moscow A Russian state bond for $750 million is such an obvious target, European bankers are asking why didn’t US government warfighters against Russia shoot down last month’s Sovcomflot issue. This followed by just four weeks the campaign by the US Treasury to stop US investment banks and the international security clearance […]

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By John Helmer, Moscow Disclosure by Russian officials of state companies of their annual incomes and property is required by Russian law. There are four exceptions. The first is when the officials required to disclose don’t want to. The second is when the prime ministry is persuaded to let them. The third is when the […]

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By John Helmer, Moscow Roman Abramovich has bought two houses, and is negotiating for at least one more, on East 75th Street in New York for about $70 million. The New York papers are reporting that Abramovich is planning to live there with his family because his wife prefers it for her work. Abramovich’s spokesman […]

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By John Helmer, Moscow The Supreme Court, the final court of appeal in the UK, issued a rejection notice on November 10, denying the Sovcomflot subsidiary, Novoship, an appeal against its defeat in the Court of Appeal on more than $150 million in claims against former chartering partner, Yury Nikitin, and companies associated with him. […]

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By John Helmer, Moscow Former Federation Council Senator and the Kremlin’s troubleshooter for Africa and maritime piracy, Mikhail Margelov (image left) has been appointed a vice president of Transneft, the state oil pipeline company. The October 29 announcement says Margelov “will be responsible for supervision of foreign economic activity and public relations.” Igor Dyomin, the […]

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By John Helmer, Moscow A decade of lawsuits promoted in the UK courts by Sovcomflot’s chief executive, Sergei Frank (right), has ended disastrously with a judgement issued against him and his company in the High Court today.

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By John Helmer, Moscow The British Court of Appeal has issued a ruling to deny the Sovcomflot group and its Novoship subsidiary the right to appeal a corruption judgement to the Supreme Court, the highest of the British courts. The judgement puts an end to nine years of attempts by Sovcomflot group chief executive Sergei […]

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By John Helmer, Moscow In a unanimous three-judge ruling issued on Friday, the UK Court of Appeal has rejected a claim from Novoship, the state shipping company which is part of the Sovcomflot group, for recovery of more than $243 million in profits and interest. Novoship had claimed the money was earned corruptly by vessel […]