What's Happening?
AMTD Group Inc., along with its subsidiaries AMTD IDEA Group and AMTD Digital Inc., has filed a lawsuit against Inna Bazhenova and Gleb Ibragimov. The legal action, announced on January 15, 2026, accuses Bazhenova and Ibragimov of intimidation, malicious falsehood, breach of confidence, and causing consequential loss and damage. This follows a transaction in 2023 where AMTD acquired The Art Newspaper from Bazhenova. Despite the completion of the deal, Bazhenova and Ibragimov initiated legal proceedings in Hong Kong in December 2024, seeking an asset preservation order over shares involved in the transaction. The Hong Kong High Court dismissed their application in June 2025 and later dismissed the entire legal action in November 2025, ordering
costs against them. AMTD alleges that Ibragimov threatened to disclose confidential information unless the company resolved the share issue in Bazhenova's favor.
Why It's Important?
This legal battle highlights the complexities and potential conflicts in high-stakes corporate transactions, particularly involving international parties. For AMTD Group, a conglomerate with interests in media, entertainment, and digital solutions, the case underscores the importance of protecting corporate interests and maintaining the integrity of business agreements. The outcome of this litigation could set a precedent for how similar disputes are handled, potentially influencing corporate governance and legal strategies in cross-border transactions. The case also reflects the challenges companies face in safeguarding confidential information and the legal recourse available when such information is threatened.
What's Next?
AMTD Group is committed to pursuing its legal rights to the fullest extent, as advised by their legal counsel, Gibson Dunn. The company has reported the actions of Bazhenova and Ibragimov to law enforcement authorities, indicating a potential escalation of the matter beyond civil litigation. The resolution of this case could involve further court proceedings or settlements, depending on the responses from Bazhenova and Ibragimov. Stakeholders in AMTD and related entities will be closely monitoring the situation, as the outcome could impact the company's reputation and financial standing.
