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London Court Issues Third Injunction Restraining Vladislav Doronin

LONDON, Aug. 5, 2014 /PRNewswire/ -- Last week the High Court in London again issued injunctions stopping Vladislav Doronin from pursuing his unlawful attempts to gain control of Amanresorts.

Mr. Doronin was injuncted by the English Court in his attempt to replace Amanresorts founder Adrian Zecha with his own personal appointee, in breach of the Company's shareholder agreement.

Mr. Doronin has been restrained from doing so in what is now the third set of emergency High Court Orders restraining his actions. 

Mrs. Justice Rose confirmed that Olivier Jolivet is the new interim CEO of Peak Hotels and Resorts, the joint venture holding company that acquired Amanresorts. Mr. Jolivet is the chosen appointee of both Mr. Zecha and Omar Amanat, Chairman of Amanresorts. Mr. Jolivet was appointed over Mr. Doronin's own candidate.  As planned under the shareholders agreement and his existing employment agreement Mr. Zecha will remain as CEO of the Amanresorts hotel operating business.

Further injunctions were also ordered against Mr. Doronin's invalid attempts to dilute shareholdings of the co-owners of Peak Hotels and Resorts.  The evidence before the court included Mr Doronin's previous attempts to unlawfully dilute the other shareholders through a $150million capital call at just 1 cent a share, which he was prevented from doing before a hearing last month in front of High Court Judge Catherine Newman.

The effect of this ruling is yet another declaration that Mr. Doronin has acted in breach of the Company's shareholders' agreement.

In a telling attempt to salvage his credibility, Mr. Doronin is falsely proclaiming last week's ruling as a victory for himself, even though he applied for permission to appeal the judgment at the hearing, which was denied by the Court.  This was Mr. Doronin's second attempt to appeal the injunctions ordered against him.

Mr. Zecha said "On behalf of Amanresorts, I would like to thank the Court for its rulings and I look forward to continuing to work with the rest of the management team to implement our exciting plans for this illustrious hotel company."

SOURCE Amanresorts

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