A UK judge has ordered Russian state shipping company Sovcomflot (SCF) to pay substantial damages to private owner Yuri Nikitin after his assets were frozen before a mammoth fraud trial.
Nikitin was claiming $378.8m in compensation at the commercial court for potential lost earnings after $377m in total was seized in 2005 and 2007 ahead of the $800m court case.
He was found liable for $65m in 2010 after a lengthy trial, due to dishonest sale and purchase and charter deals with an SCF executive and shipbrokers.
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