Ver Angola


PGR reiterates that Swedish arbitral tribunal declined Carlos de São Vicente's requests

The Angolan Attorney General's Office reiterated this Thursday that the Stockholm Arbitration Court in Sweden declined Wednesday the requests made by the Luso-Angolan businessman Carlos de São Vicente.


At issue is an urgent arbitration action aimed at lifting the seizure of Carlos de São Vicente's assets in Angola and abroad, as well as changing the measure of preventive detention currently applied to the businessman, who is a defendant in Angola.

"After the trial sessions, where witnesses were questioned (...), the documents presented were analyzed, the decision, dated June 16 of this year, was handed down, having declined all the requests made" by Carlos de São Vicente, who was "ordered to pay the costs of the case, including the fees of the Angolan State's lawyers," said a press release from the Attorney General's Office sent to Lusa.

According to the organization, Carlos de São Vicente claimed to be a "Portuguese foreign investor, whose fundamental rights are allegedly being violated by the Angolan State.

According to the PGR, the action was presented at the Stockholm Arbitration Court by Carlos de São Vicente, represented by the Swiss law firm Chellenberg Wittmer, who presented as witnesses his Angolan lawyers, belonging to the firm FBL Advogados.

During this Thursday afternoon, the lawyers of the Luso-Angolan businessman denied the existence of a decision on the arbitration process interposed, contrary to what was previously indicated by the Angolan authorities.

"No decision has been rendered on the case and, contrary to the information broadcast by the media, the only amount our client was ordered to pay to Angola concerns the costs of the emergency arbitration process" filed with the arbitral instance of the Stockholm Chamber of Commerce (SCC), said the Swiss law firm Schellenberg Wittmer in a note sent earlier to Lusa.

The Swiss law firm considered that the award "is legally erroneous and incorrect in several aspects" and that it is "only a procedural decision with regard to precautionary measures."

"Mr. São Vicente is keen to continue to preserve his interests by continuing with arbitration on the case," they stressed, pointing out that their client "will continue to fight for the defense of his rights, which have been largely violated by the Angolan authorities in recent months."

The Angolan Attorney General's Office also added that the criminal case in progress in Angola in which Carlos de São Vicente is a defendant "continues to proceed awaiting trial.

Carlos de São Vicente, owner of the AAA group of companies, one of the largest private groups in Angola, and holder for two decades of the insurance and reinsurance monopoly of Sonangol, Angola's state oil company, was formally charged with the crimes of embezzlement, money laundering and tax fraud, having been notified of the indictment on March 17.

The Luso-Angolan businessman is accused of continuous tax fraud over five years, which will have damaged the Angolan state in amounts exceeding one billion euros, according to the indictment to which Lusa had access.

Last year, the businessman saw his accounts frozen in a Swiss bank, with the authorities of that country alleging that between 2012 and 2019 Carlos de São Vicente will have transferred $900 million from the insurance company to his accounts, something that was only discovered when the SYZ bank alerted to a transfer of $213 million, according to the indictment documents.


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