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Wednesday, February 21, 2024

Africa’s first feminine billionaire Isabel dos Santos loses £580m Excessive Court docket case | UK Information

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Africa’s first feminine billionaire has misplaced her Excessive Court docket struggle in opposition to an utility to freeze as much as £580m of her property.

Businesswoman Isabel dos Santos, whose father Jose Eduardo dos Santos dominated Angola for 38 years till 2017, is being sued by Unitel, a telecoms operator within the African nation.

The agency requested London’s Excessive Court docket to grant a worldwide freezing order over the Angolan’s property at a listening to final month.

She had argued the order was pointless as her property have been frozen or seized in different international locations together with Angola and Portugal.

However the order was granted by Choose Robert Brilliant in the present day.

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He mentioned in a written ruling he didn’t settle for that “the opposite freezing orders imply that it’s not simply and handy for this court docket to grant an additional order”.

Unitel is suing Ms dos Santos over loans made whereas she was a director of the corporate to Dutch agency Unitel Worldwide Holdings (UIH) in 2012 and 2013 to fund UIH’s acquisition of shares in telecoms corporations.

Round £300 million in unrepaid loans stays excellent, based on Unitel, which efficiently had Ms dos Santos added to the lawsuit in Could.

She claims to be the sufferer of a “marketing campaign of oppression” by Angola and says Unitel is itself accountable for UIH’s lack of ability to repay the loans due to its alleged function in Angola’s illegal seizure of UIH’s property.



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