Sunday July 12, 2020

Coral Petroleum chiefs fail to testify in $2bn oligarch showdown

High Court ordered directors of alleged shell company to give their evidence in June

28th August, 2016
US-based billionaire Viktor Vekselberg is involved in a dispute Pic: Getty

The current directors of Irish-based oil firm Coral Petroleum have so far failed to cooperate in a $2 billion legal showdown between Russian oligarchs in New York.

In June, the High Court granted a request from the US authorities to have five past and present directors of the alleged shell company give testimony in the offices of a Dublin solicitors firm. The order was made under the Foreign Tribunals’ Evidence Act 1856.

The directors’ evidence is...

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