Eurasian Natural Resources Corporation (ENRC), the Kazakh miner embroiled in a corruption and bribery investigation, has filed a legal claim against its former director, Sir Paul Judge, and is seeking unspecified damages, accusing him of leaking confidential information to the media.
The London-listed group – in the throes of a buyout by a trio of co-founders that will end five turbulent years as a public company – has been plagued by bitter boardroom battles, whistleblower allegations of graft and, since April, an official inquiry into claims of fraud, bribery and corruption. Sir Paul, a former Cadbury Schweppes executive who stepped down from the board last month, could not be reached for comment last night.
ENRC said it was claiming damages for “breach of fiduciary duty” and was also demanding the return of any confidential documents still held by Sir Paul. “We have conducted thorough investigations into the malicious leaks which have damaged the company, its reputation and ultimately shareholder value,” said ENRC’s chairman Gerhard Ammann. “While these investigations continue, the company has an obligation to bring legal action where appropriate in order to protect the company’s information and stakeholders’ interests.”
Investors in ENRC’s largest shareholder, Kazakhmys, will vote next month on whether to accept the buyout offer.