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Isabel Dos Santos hit with $733M asset freeze

Angolan businesswoman Isabel dos Santos visits the new started EFACEC Portuguese corporation's electric mobility industrial unit on February 5, 2018 in Maia.   -  
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MIGUEL RIOPA/AFP or licensors

United Kingdom

Businesswoman Isabel Dos Santos lost a new court battle on Wednesday (Dec. 20)

The Portugal news agency reported that a judge of the British Supreme Commercial Court court decided to freeze around $733 million controlled by Isabel dos Santos, in a case brought against the Unitel International Holdings (UIH).

Dos Santos, who owns UIH, resigned as a director of Unitel in 2020.

Both companies are not related.

At issue are loans from 2012 and 2013, when the businesswoman was a director of the Angolan telecommunications operator (Unitel).

The loans were not repaid and around 300 million pounds is outstanding, according to Unitel, according to Reuters.

But dos Santos – who claims to be the victim of a "campaign of oppression" by Angola – says Unitel is itself responsible for UIH's inability to repay the loans because of its alleged role in Angola's unlawful seizure of UIH assets.

Isbabel Dos Santos had argued that she has already been hit by asset freezing orders and that it was not fair nor convenient for the court to decide on yet another order.

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