Isabel dos Santos lost a lawsuit against a telecommunications operator who demanded that assets be frozen

Isabel dos Santos, daughter of former Angolan President Jose Eduardo dos Santos, has lost her case against Angolan telecommunications operator Unitel, Sky News reports. The operator demanded to freeze the businesswoman’s funds and assets totaling 580 million pounds, more than 670 million euros.

The operator accuses Isabel Santos of making loans to the Dutch company Unitel International Holdings between 2012 and 2013, when she assumed the role of director. The businesswoman claims she is the victim of a “campaign of oppression” by Angola, citing Sky News.

In the decision, the judge states that “it is highly desirable that Isabel dos Santos be required to declare her assets in circumstances where Unitel does not know which assets, if any, belong to her and are not subject to the seizure or freezing orders.” which have already entered into force.”

So, he concludes, he does not accept “the principle that other asset freezing orders mean that it is neither fair nor convenient for this court to decide on yet another order”, as defended by a businesswoman who says she is a victim ” repressive campaign.”

The London court’s decision follows a series of lawsuits brought by the Angolan state and public and private companies against businesswomen since João Lourenço took office as Angolan president in 2017, which also included other members of José Eduardo dos Santos’ family. who ruled Angola for almost 40 years.

Last December, the Angolan Supreme Court (TC) ordered the preventive seizure of the assets of businesswoman Isabel dos Santos worth one billion dollars (about 930 billion euros), namely 100% of the Unitel T+ companies, in Cape Verde. and Unitel STP SARL in Sao Tome and Principe, the actual beneficiary of which was the daughter of former Angolan President José Eduardo dos Santos.

According to the order, among other charges, Isabel dos Santos “also transferred amounts from Unitel SA to Unitel International Holdings BV, a company based in the Netherlands, registered on May 4, 2012 and controlled by Isabel dos Santos herself, the sole beneficial owner.”

In fact, between May 8, 2012 and August 28, 2013, the note states, seven financing agreements were signed between Unitel SA and Unitel International Holdings BV, through which the former provided a second loan in the total amount of EUR 322,979,711.00 and 43 000,000.00 US dollars, the amount that the beneficiary company is “obligated to repay the debt within 10 years.”

Such loans, “in which Isabel dos Santos signed the aforementioned financial contracts while simultaneously acting as the legal representative of both companies,” allowed Unitel International Holdings BV to acquire shares or create companies in the telecommunications sector in Portugal, Cape Verde (Unitel T+) and Santos. Tome and Principe (Unitel STP, SARL),” the order states.