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The news has just been received from London of the capitulation overnight of President Emomali Rahmon and the Tajikistan Aluminium Plant in their court case against Avaz Nazarov and a group of former managers and traders of the aluminium plant. The terms of the settlement, and details of the circumstances, which put a stop to one of the most costly court cases ever litigated in London, will follow shortly.

One of the key documents in evidence is an agreement involving Hydro Aluminium of Norway, the European Bank for Reconstruction and Development, and the World Bank, implicating their senior officials in what has been described in court as a racketeering scheme to divert hundreds of millions of dollars of profit out of Tajikistan.

Settlement Agreement between Norsk Hydro and TadAZ, Dec 20, 2006

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