Omar Amanat Wins Lawsuit Victory Against Doronin For Control of Amanresorts PR Newswire 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. SOURCE Amanresorts Contact: Angela Pruitt, firstname.lastname@example.org, 212-573-6100; Tom Becker, email@example.com, 212-573-6100
Omar Amanat Wins Lawsuit Victory Against Doronin For Control of Amanresorts
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