Moscow Court Rejects Move Against U.S. Equity Fund's Assets

A Moscow court declined a prosecutor's request to seize the assets of U.S. private equity fund NCH Capital. The case involved allegations linking NCH founders to Ukraine's military. This comes amid significant asset seizures by Russian authorities since the onset of the Ukraine conflict.

A Moscow court rejected a motion on Tuesday from prosecutors seeking to seize the assets of U.S. private equity fund NCH Capital in Russia, according to the Interfax news agency. This development comes as Russian and U.S. representatives prepare for discussions in Davos, Switzerland. Since the Ukraine war began, Russian authorities have seized approximately $50 billion in assets from foreign and Russian owners, with the courts generally supporting the state's actions.

Prosecutors had filed a lawsuit against NCH Capital and its founders, George Rohr and Moris Tabacinic, alleging that the founders financed Ukraine's military operations. NCH owns AgroTerra, a major Russian agricultural producer, which has been under temporary state management following a decree by Russian President Vladimir Putin in April 2024.

Interfax reported that the court decided not to proceed with the case and annulled the interim measures previously enacted. The news agency did not disclose further specifics.

(With inputs from agencies.)