#USA #New York #AMTD Group #The Art Newspaper #Inna Bazhenova

AMTD Group's Legal Battle

In a significant turn of events, AMTD Group Inc. has filed a lawsuit against Inna Bazhenova and Gleb Ibragimov, which revolves around serious allegations including intimidation, malicious falsehood, and breach of confidence. This legal action follows a heated dispute after AMTD acquired The Art Newspaper from Bazhenova in 2023. The transaction was completed with full payment, which included cash and certain shares of publicly traded companies under the AMTD umbrella.

The controversy escalated when Bazhenova initiated legal claims in Hong Kong in December 2024, challenging aspects of the acquisition. Despite the clear records indicating that the shares were registered in her name and that of Ibragimov, they sought a preservation order over those shares. The Hong Kong High Court dismissed their request in June 2025 and ordered them to pay legal costs amounting to HK$773,000.

The situation took another turn when, in November 2025, the entirety of their legal action was dismissed, leaving them further exposed legally. In January 2026, Ibragimov reportedly communicated intentions to breach their confidentiality agreement by leaking information about the contract unless AMTD agreed to resolve the issues regarding the shares in favor of Bazhenova. This act led AMTD to report the behavior to law enforcement, stating that they have incurred losses and damages as a result.

Under the guidance of legal counsel from Gibson Dunn, AMTD swiftly moved to initiate legal proceedings against both Bazhenova and Ibragimov. AMTD Group aims to enforce their rights against these individuals, highlighting their commitment to justice and fairness, particularly against acts perceived as malicious and intimidating.

Overview of AMTD Group

AMTD Group operates across various sectors, including media and entertainment, education, and hospitality. Its digital division, AMTD Digital, provides a comprehensive range of services aimed at connecting businesses and investors globally.

The Importance of the Case

This legal case not only underscores the complexities involved in corporate acquisitions but also highlights the lengths to which corporations may go to protect their interests and the integrity of their operations. It serves as a reminder of the importance of due process and the legal frameworks that govern business transactions.

In summary, this unfolding legal drama continues to attract attention as it develops, with ramifications that could affect not only the parties involved but also the broader landscape of corporate governance and legal accountability in business dealings.