Business
AMTD, Owner of The Art Newspaper, Launches Litigation against INNA BAZHENOVA and GLEB IBRAGIMOV for Intimidation, Malicious Falsehood, Breach of Confidence and Consequential Loss and Damage
AMTD Group Inc. ("AMTD Group"), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group ("TGE", NYSE: TGE; LSE: TGE) jointly announce on launching litigation against Inna Bazhenova and Gleb Ibragimov for Intimidation, Malicious Falsehood, Breach of Confidence and Consequential Loss and Damage.
About this update from The Generation Essentials Group
[{"type":"text","content":"PARIS and NEW YORK and LONDON, Jan. 15, 2026 /PRNewswire/ -- AMTD Group Inc. ("AMTD Group"), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group ("TGE", NYSE: TGE; LSE: TGE) jointly announce on launching litigation against Inna Bazhenova and Gleb Ibragimov for Intimidation, Malicious Falsehood, Breach of Confidence and Consequential Loss and Damage.","length":425,"tagName":"p"},{"type":"text","content":"In 2023, AMTD Group acquired The Art Newspaper from Ms Inna Bazhenova, who personally published an article about the successful completion of the deal at the time: https://www.theartnewspaper.com/2023/10/25/statement-by-inna-bazhenova-publisher-the-art-newspaper. The consideration for the transaction was fully paid, and the deal was duly closed and completed.","length":361,"tagName":"p"},{"type":"text","content":"The consideration comprised cash and certain shares in listed companies of AMTD Group, some of which were subject to a lock-up period ("Lock Up Shares") under the Sales and Purchase agreement (the "Agreement").","length":230,"tagName":"p"},{"type":"text","content":"At all material times, the Lock Up Shares have been registered in the names of Ms Bazhenova and her business partner and advisor, Mr Gleb Ibragimov, who was allocated a part of the shares by Ms Bazhenova.","length":204,"tagName":"p"},{"type":"text","content":"Despite this, Ms Bazhenova and Mr Ibragimov commenced legal action in Hong Kong on 27 December 2024, making certain claims in relation to the transaction. They applied for an asset preservation order over the Lock Up Shares, despite clear evidence that the shares are registered in their names, as confirmed to them by letters from the independent registrar of the shares.","length":372,"tagName":"p"},{"type":"text","content":"On 20 June 2025, the Hong Kong High Court fully dismissed their application for an asset preservation order, and imposed a costs order of HK$773,000 against them. On 21 November 2025, their entire legal action was dismissed, with the costs of the whole action ordered against them.","length":281,"tagName":"p"},{"type":"text","content":"Subsequently, in January 2026, Mr Ibragimov—in his own capacity and/or for and on behalf of Ms Bazhenova—issued messages to AMTD Group, indicating readiness to b...