Judge Robert Bright, of a British commercial court, decided this Wednesday to freeze around 580 million pounds (670 million euros) controlled by Angolan businesswoman Isabel dos Santos, in a case initiated against Unitel International Holdings.
“I see no obvious basis on which Isabel dos Santos’s assets should be protected in this jurisdiction; there appears to be an obvious argument in favor of a worldwide freeze of her assets,” argued Judge Robert Bright in the decision published this Wednesday. by the Supreme Court, British Commercial Court.
This is the case initiated by Unitel, now controlled by the Angolan State, against Unitel International Holdings BV, based in the Netherlands, and against the businesswoman Isabel dos Santos, who requested the freezing of 580 million pounds, the equivalent of 670 million euros. at Wednesday’s exchange rate.
In the decision, the judge states that it is “highly desirable that Isabel dos Santos be required to declare her assets, in circumstances in which Unitel does not know which, if any, are in her possession and are not covered by seizure orders or frostbite”. that are already in force”.
Therefore, he concludes, he does not accept “the principle that the other asset seizure orders imply that it is neither fair nor convenient for this court to decide on another order,” as defended by the businesswoman, who claims to be the victim of an “oppressive campaign.” “.
The decision of the London court comes after a series of actions brought by the Angolan State and by public and private companies against the businesswoman since João Lourenço assumed the presidency of Angola in 2017, and which also included other members of the family of José Eduardo dos Santos, who ruled Angola for almost 40 years.
In December of last year, the Supreme Court (TS) of Angola ordered the preventive seizure of the assets of the businesswoman Isabel dos Santos, valued at one billion dollars (about 930 million euros), specifically 100% of the Unitel companies. T+, in Cape Verde. and Unitel STP SARL, in Sao Tome and Principe, of which the daughter of the former President of Angola José Eduardo dos Santos was the effective beneficiary.
According to the order, among other accusations, Isabel dos Santos “also transferred amounts from Unitel SA to the entity Unitel International Holdings BV, a company based in Holland, established on 05/04/2012 and controlled by Isabel dos Santos herself, her sole effective beneficiary.”
In fact, between May 8, 2012 and August 28, 2013, the note states, seven financing contracts were signed between Unitel SA and Unitel International Holdings BV, through which the former lent the latter the total amount of 322,979,711.00 euros and 43,000,000.00 dollars, amounts that the beneficiary company “is obliged to reimburse within a period of 10 years.”
These loans, “in which Isabel dos Santos signed the aforementioned financing contracts, in her simultaneous capacity as legal representative of both companies”, allowed Unitel International Holdings BV to acquire shares or establish companies in the telecommunications sector in Portugal, Cape Verde ( Unitel T+) and Sao Tome and Principe (Unitel STP, SARL)”, concludes the order.
Source: TSF
