Jim Armitage: All quiet on the JKX front after stalled coup
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Thursday 15 May 2014
Outlook Igor Kolomoisky probably has too much on his plate in his home country of Ukraine these days to ponder his considerable UK investments. The interim Kiev government gave the billionaire a province to run, and he is now widely thought to be bankrolling the resistance against Russian separatists.
That's having a mixed success, as is his perceived attempt to take over Britain's JKX Oil & Gas. He and a fellow Ukrainian oligarch used strongarm tactics to attempt a boardroom coup last year. JKX lost a High Court case against them, but the Appeal Court has just overturned the decision.
Good. Lawyers such as Freshfields, earning fat fees from his case, will disagree with me, but the City could do without such characters.
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