Ukrainian-American businessman could face British jail term Alexander Altman, a Ukrainian-American businessman could face sanctions, including a jail term in Britain, after a High Court judge found he was in contempt of court for breaching court orders in a legal battle over the Ukrainian television station TVi. A hearing date will be set by the High Court early this year. This will determine sanctions for Mr Altman's non-compliance, after Mr Justice Turner ruled the businessman was in contempt late last month. Committal to prison is one of the options open to the judge. The High Court committal proceedings were brought by Konstantin Kagalovsky, a former vice-president of Yukos Oil and formerly Russia's representative at the IMF. Mr Kagalovsky launched TVi in Ukraine in 2008 along with another businessman. The London case was begun in support of a related legal dispute in Kiev over the alleged transfer of ownership of TVi, which took place in early 2013. The High Court made a number of court orders in support of the Ukrainian proceedings, and in September 2013, Mr Kagalovsky made an application to commit Mr Altman to prison for contempt of court, claiming he was in breach of these orders. The dispute, as outlined in the ruling, centres on Mr Kagalovsky's claims that Mr Altman played a "central part" in a "corporate raid" in 2013 that effectively stripped Mr Kagalovsky of control over TVi. The station was said to be the only broadcaster in Ukraine that "adopted a consistent editorial line independent of the government of Viktor Yanukovich" according to written submissions lodged at the September hearing by Mr Kagalovsky's legal team from the law firm Bryan Cave. Mr Altman is alleged to have carried out the transfer "using forged documents comprising fake powers of attorney, board resolutions and board minutes." The High Court was told that Wilcox Ventures, controlled by Mr Kagalovsky, held 99 per cent of the shares in Media Info, TVi's holding company, and 1 per cent was held by his associate Oleg Radchenko In April 2013, the state register in Kiev responsible for maintaining Media Info's records amended them to state that a UK-domiciled company, Balmore Invest, held 95 per cent of its issued share capital, in which Mr Radchenko's holding had been subsumed. "On the face of the record, it appeared that Mr Kagalovsky had lost or relinquished control of TVi at the metaphorical stroke of a pen," Mr Justice Turner wrote in his ruling. Mr Kagalovsky alleges that Wilcox had not consented to the transfer of shares and was not put on notice of Balmore's application. In April, TVi management was locked out of the station. Two days later, Mr Altman is said to have given a press conference in the company of Mr Radchenko during which Mr Altman allegedly described himself as the ultimate beneficial owner of Balmore, according to the written arguments submitted by Mr Kagalovsky at the September hearing. Mr Altman had contended that the evidence "falls far short of demonstrating beyond reasonable doubt that he was the controlling mind of any or all of the respondent companies and that he cannot therefore be liable to be held in contempt in respect of any of the alleged breaches of relevant court orders," according to a summary of his case outlined in the ruling. He also contended that he was appointed as director of Balmore without his knowledge and that he had received a call in April from Mr Radchenko offering him an opportunity to become an investor in TVi because Mr Kagalovsky "wanted to give up most of his stake in the holding company, Media Info." Mr Justice Turner concluded in his ruling that Mr Altman was the controlling mind of the relevant companies and, if he had been "set up," then the judge found "he would have made far more strenuous efforts to find out what had happened." Mr Altman was the "controlling mind and de facto director . . . at all material times," and "the decision not to comply with this order was his. He could and should have made the disclosure and chose not to," the judge concluded.