former owners of the art newspaper and lofficiel say amtd still owes buyout funds amid ipo listings 1234774020

The former owners of The Art Newspaper and L’Officiel are embroiled in legal disputes with the Hong Kong-based AMTD Group, alleging they have not received full payment for the sale of their publications. Russian publisher Inna Bazhenova, who sold The Art Newspaper for an estimated $16–17 million, and the Jalou family, former owners of L’Officiel, claim that AMTD owes significant buyout funds despite the media brands being used to anchor high-profile IPOs on the New York and London stock exchanges. Bazhenova specifically alleges that shares provided as part of the payment have been 'parked and frozen' by a brokerage linked to AMTD, preventing her from accessing her capital.