Isabel dos Santos, renowned as Africa’s first female billionaire, faced a significant setback in her legal tussle as London’s High Court upheld a freezing order totaling up to 580 million pounds ($735 million) against her assets.
The High Court ruling comes as a result of a lawsuit filed by Angolan telecoms operator Unitel against dos Santos. Unitel, a company formerly associated with dos Santos, approached the court seeking a global freezing order over her assets, a request that was granted by Judge Robert Bright on Wednesday, as reported by Reuters.
At the heart of the legal dispute lies a claim made by Unitel against dos Santos’ Dutch company, Unitel International Holdings (UIH). The claim alleges that loans provided by Unitel to UIH during dos Santos’ directorship in Unitel in 2012 and 2013 were not repaid, leaving a substantial balance of nearly $395 million plus accrued interest.
While dos Santos argues that Unitel shares responsibility for UIH’s failure to repay the loans, citing Unitel’s alleged involvement in the purported unlawful seizure of UIH’s assets by Angola, Judge Bright’s ruling favored Unitel’s plea for the freezing order.
This legal episode adds to the longstanding scrutiny dos Santos has faced concerning corruption allegations in Angola. Alongside her husband, dos Santos has been accused of leveraging $1 billion in state funds to support companies in which they held stakes during her father’s presidency, including entities associated with the prominent oil company Sonangol.
Asserting her innocence, dos Santos claims to be a victim of an enduring political vendetta, resulting in the freezing or confiscation of her assets in Angola and Portugal. She argued against the necessity of another freezing order, highlighting existing freezes in other countries. However, Judge Bright determined otherwise, emphasizing that prior freezing orders in other jurisdictions did not preclude the issuance of a further order in the High Court.
The legal battle and asset freeze represent a pivotal development in dos Santos’ ongoing legal challenges and the wider narrative surrounding her business affairs.
