Abramovich-Linked Firm Appeals Director Layoffs Loss

By Lucia Osborne-Crowley (May 5, 2022, 5:25 p.m. BST) – Investors in a company linked to a sanctioned Russian steel tycoon urged an English appeal court on Thursday to find that it had not breached its contract when she was expelled two directors.

Investors in Compound Photonics Group, an investment firm whose backers include Russian billionaire Roman Abramovich, have urged the Court of Appeal to overturn a High Court decision. The trial court found that the majority investors breached their contractual obligations by forcing directors Mark Faulkner and Jonathan Sachs to resign.

One of the shareholders accused of breaking the law, Minden Worldwide Ltd., is beneficially owned by Abramovich, better…

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