Omar Amanat Wins Lawsuit Victory Against Doronin For Control of Amanresorts
LONDON, July 18, 2014
LONDON, July 18, 2014 /PRNewswire/ --In a legal victory for entrepreneur Omar
Amanat, Adrian Zecha, 81, renowned hotelier and founder of Amanresorts, has
been reinstated by order of the High Court in London as CEO of Amanresorts.
The High Court injunction followed an unlawful attempt by
Mr.VladislavDoroninto remove Mr.Zechaas CEO and force him from his home of
15 years. The High Court was critical of Mr.Doronin'sconduct andfound that
his attempt to crown himself CEO, without board approval, was unlawful and in
violation of his joint venture agreement with the Mr. Amanat, who is assuming
the role of Chairman of Amanresorts.
Mr. Amanat said, "I am delighted that Adrian is now backin charge. He will
remain in charge until such time a suitable successor can be found. It is
essential to me that Adrian retires in a manner of his own choosing, which
requires that his loyalstaff, who have helped build upAmaninto what is, are
looked after. TheAmanbrand and the legacy of AdrianZechaare and shall
forever be inextricably linked."
Amanresorts, the luxury hotel chainfavouredby billionaires, was bought from
its previous owners in a $358 million deal in February 2014 by a joint venture
between Mr.Amanat and Mr.Doronin, a Russian businessman. As part of the
deal, Mr.Zechawas to remain as CEO.
In April 2014, Mr.Doronin, acting through his companyTarekInvestment
Limited, removed Mr.Zechain a boardroom coup from his role as CEO and
appointed himself as CEO, despite having no hotel experience.
Peak Hotels and Resorts Ltd., Mr.Amanat's company, responded to the issue by
pursuing High Court proceedings. The niche London litigation firm CANDEY,
acted for Peak and Mr. Amanat, instructing John Brisby QC and Alexander Cook
of 4 Stone Buildings. Mr.Doronininstructed Sidley Austin and Kenneth MacLean
QC of One Essex Court, the same legal team who acted for the Barclay brothers
in their fight to obtain control overClaridges.
In her judgment released onJuly 14, 2014, the High Court Judge, Catherine
Newman QC, held thatMr Zecha's"personal identity and vision is relevant to
the performance of his function and the reputation enjoyed by the brand" and
that "MrZechawas the choice of CEO of both parties of the JVC and his
exclusion… appears to me to be a clear breach of contract...MrDoroninhas no
proper basis for calling himself CEO."
Mr.Zecha, said today from his home in Singapore, "I welcome the Court's
ruling and am grateful to have an opportunity to ensure thatAmanResorts, a
company for which I have loved and nurtured for the last two decades, will
continue to be a world-class brand with a devoted following. I remain
committed toAman'sgrowth, while also preserving its spirit."
Mr.Amanatalso said Mr Zecha has announced the formation of an advisory
council to help him on corporate governance matters which includes
AlanHassenfeld, Chairman of Hasbro, Louis Freeh, Former Director of the
FBI,LalitModi, ofModiEnterprises and founder of IPL and Dr.Rutsel
MarthafmrGeneral Counsel of Interpol and the United Nations.
Contact: Angela Pruitt, firstname.lastname@example.org, 212-573-6100; Tom Becker,
Press spacebar to pause and continue. Press esc to stop.