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US appeals court halts first-ever lawsuit filed under Magnitsky act

January 26, 8:22 UTC+3 NEW YORK
Prevezon Holdings owned by the Russian citizen Denis Katsyv is suspected of legalizing proceeds from an alleged tax fraud in Russia
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© AP Photo/Steve Helber

NEW YORK, January 26. /TASS/. The Second US Circuit Court of Appeals has halted a civil money laundering case opened on the basis of the first-ever lawsuit filed under the so-called Magnitsky act.

The lawsuit, which The Wall Steet Journal described as "complex and contentious" was instituted against Prevezon Holdings company owned by the Russian citizen Denis Katsyv.

Earlier plans suggested that a federal court in Manhattan would start hearings of the case on Wednesday, January 27.

The appeals court took its decision pending a petition by lawyers representing the London-based Hermitage Capital foundation, the founder of which, William Browder, is the main eyewitness in the case. According to US media, he has been trying to remove the defendants' lawyer, John Moscow, and his company from the case.

Browder claims John Moscow has represented him in the past in a related case and could be now using the information obtained previously to undermine his credibility.

US government filed the lawsuit against Prevezon Holdings in September 2013. New York attorneys suspected the company of legalizing proceeds from an alleged tax fraud in Russia and demanded that all of its assests in the US be confiscated.

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