/PRNewswire/ — AMTD Group Inc. (“AMTD Group”), AMTD IDEA Group (NYSE: AMTD; SGX: HKB), AMTD Digital Inc. (NYSE: HKD) and The Generation Essentials Group (“TGE”,NYSE: TGE; LSE: TGE) jointly announce the initiation of proceedings against Inna Bazhenova and Gleb Ibragimov for intimidation, defamatory statements, breach of trust and consequential losses and damages.
In 2023, AMTD Group purchased The Art Newspaper from Ms. Inna Bazhenova, who personally published an article about the successful operation at the time: https://www.theartnewspaper.com/2023/10/25/statement-by-inna-bazhenova-publisher-the-art-newspaper. The amount due under the transaction has been paid in full and the transaction has been duly concluded and completed.
The consideration included cash and shares of AMTD Group’s publicly traded companies, some of which were subject to a lock-up period (“locked shares”) under the sale and purchase agreement (the “agreement”).
At all material times, the blocked shares were registered in the names of Ms. Bazhenova and her business partner and advisor, Mr. Gleb Ibragimov, to whom Ms. Bazhenova allocated part of the shares.
Despite this, Ms. Bazhenova and Mr. Ibragimov filed a lawsuit in Hong Kong on December 27, 2024, asserting certain claims under the transaction. They requested an asset protection order on the blocked shares, despite clear evidence that the shares are registered in their name, as confirmed to them by letters from the independent agent responsible for maintaining the share register.
On 20 June 2025, the Hong Kong High Court completely rejected their application for an asset preservation order and imposed a costs order of HK$773,000 on them. On November 21, 2025, their entire legal action was dismissed, with costs of the entire action being awarded to them.
Subsequently, in January 2026, Mr. Ibragimov, in his own capacity and/or on behalf and on behalf of Ms. Bazhenova, sent messages to AMTD Group, indicating that he was prepared to violate the Agreement and/or his duty of confidentiality by disclosing matters relating to the Agreement to third parties, including journalists, unless AMTD Group agreed to resolve matters relating to the blocked shares in favor of Ms. Bazhenova.
The above conduct and actions have been reported by AMTD and The Art Newspaper to law enforcement authorities. As a result of the above, AMTD Group suffered losses and damages.
Therefore, as advised by Gibson Dunn, AMTD Group promptly commenced legal action against Ms. Bazhenova and Mr. Ibragimov, and committed to asserting its legal rights against both individuals to the fullest extent possible.
Furthermore, AMTD Group wishes to reiterate its determination and dedication to ensure that justice and fairness prevail against all perpetrators of malicious acts and intimidation against AMTD Group and its related companies and individuals, and to obtain all possible remedies and sanctions against such malicious actors.
About AMTD Group
AMTD Group is a conglomerate whose core business portfolio spans the media and entertainment, education and training, and high-end property and hospitality sectors.
About AMTD IDEA Group
AMTD IDEA Group (NYSE: AMTD; SGX: HKB) is a diversified institution and digital solutions group connecting businesses and investors to global markets. Its comprehensive all-in-one business services and digital solutions platform addresses the diverse and interconnected needs of different customers and digital requirements at all phases of their lifecycle. AMTD IDEA Group is uniquely positioned as an active super connector between customers, business partners, investee companies and investors, connecting East and West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as “Twitter”) at @AMTDGroup.
About AMTD Digital Inc.
AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its all-in-one digital solutions platform manages key business areas such as digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital announcements, please visit https://ir.amtdigital.net/investor-news.
About Generation Essentials Group
Generation Essentials Group (NYSE: TGE; LSE: TGE), jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multimedia, entertainment and cultural business worldwide, as well as hospitality and VIP services. TGE includes L’Officiel, The Art Newspaper, cinema and entertainment projects. Collectively, TGE is a diverse portfolio of media and entertainment companies, as well as a global portfolio of premier properties. Additionally, TGE is a sponsoring manager of special purpose acquisition companies (SPACs), whose first SPAC was successfully raised and priced on December 18, 2025.
Safe harbor declaration
This press release contains statements that may constitute “forward-looking statements” pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and other similar statements. Statements that are not historical facts, including statements regarding the beliefs, plans and expectations of AMTD IDEA Group, AMTD Digital and/or The Generation Essentials Group, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in AMTD IDEA Group, AMTD Digital and The Generation Essentials Group’s filings with the SEC. All information provided in this press release is as of the date of the release, and AMTD IDEA Group, AMTD Digital and The Generation Essentials Group undertake no obligation to update any forward-looking statements, except as required by applicable law.
For more information, please contact:
Pour l’AMTD IDEA Group:
Investor Relations Office
AMTD IDEA Group
EMAIL: [emailprotected]
Pour AMTD Digital Inc:
Investor Relations Office
AMTD Digital Inc.
Email: [emailprotected]
Pour Generation Essentials Group:
Investor Relations Office
The Generation Essentials Group
EMAIL: [emailprotected]