The Russian owner of fishing holding company Norebo, Vitaly Orlov, seeks to overturn a worldwide asset freezing injunction at a case hearing in the London High Court this week, in relation to a dispute over a stake in the company worth £1.2 billion (€1.3 billion/$1.5 billion).

Orlov's efforts come after his former business partner Alexander Tugushev made legal claims in support of both a worldwide freezing order and freezing order in Russia, Orlov disrespects the court process.

The two Russian businessmen, Tugushev and Orlov, have been in legal battles over a stake in Norebo since last year, with the settlement moving to the UK courts in March.

Earlier last month, Orlov tried to avoid London court rulings by filing a claim that the Russian courts should have sole jurisdiction over the case.

Orlov allegedly took out £18 million (€20.2 million/$22.8 million) in dividends days before the freezing order was granted, Tugushev's attorneys allege. His partner, Larisa Shumova, has also been a financial beneficiary despite having no relation to the company.

Tugushev continues to prosecute his claim in the London courts in an effort to gain compensation from his 17 years with Norebo Group, a spokesperson representing Tugushev told IntraFish.

Norebo Group was established in 1997 in a cooperation between Orlov, Tugushev and Magnus Roth and now represents more than 14 fishing companies.

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Norebo owner allegedly took $22 million payout days before court-ordered asset freeze