Ukraine seeks to seize water company owned by billionaire family of British theatre mogul
Row centres on stake held by Patarkatsishvili family in bottled water firm it jointly owns with Russian oligarch
TL;DR
- The Patarkatsishvili family, British theatre impresarios, are in a dispute with Ukrainian authorities over their stake in IDS Ukraine, a leading bottled water company.
- Ukraine's asset recovery agency (Arma) seeks to seize the company due to its joint ownership with Russian oligarch Mikhail Fridman, who is under sanctions.
- Arma claims to have faced legal obstacles and a cyber-attack during attempts to manage the company, expressing concerns about potential money laundering and value extraction.
- The Patarkatsishvili family denies any wrongdoing, states they are being unfairly targeted, and intends to pursue justice in international courts if Ukrainian courts fail to provide it.
- The family's shareholding was inherited from businessman Badri Patarkatsishvili, who died in 2008 with an estimated fortune of £6bn.
- IDS Ukraine maintains it has operated lawfully, with no state authority finding evidence of financial misconduct, and continued production throughout the conflict.