Irish-registered firm at centre of $2bn conspiracy allegations

An Irish-registered firm was allegedly at the centre of conspiracy to defraud the world’s largest producer of ammonia of a $2bn (€1.85bn) shareholding, the Commercial Court has heard.

Four firms, registered in the Carribbean, are suing Eurotoaz Ltd, which has a registered office at the Earlsfort Centre, Earlsfort Terrace, Dublin.

They claim they were defrauded, through illegal and corrupt actions, of their 70% interest in Russian firm Togliattiazot (ToAZ), a €3bn company which is the world’s largest producer of trade ammonia used in fertiliser.