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PRESS RELEASE – FOR IMMEDIATE DISTRIBUTION

Quantum Global to seek international arbitration in


Mauritius dispute
EBENE, Mauritius, April 25, 2018 – Quantum Global and its founder
have notified the Government of Mauritius of their intention to resort
to international arbitration if the dispute over its business affairs in
Mauritius is not settled within six months.
Quantum Global and its founder, Jean-Claude Bastos de Morais, have
seen their bank accounts frozen and business licenses suspended by
the Mauritius courts on the basis of allegations that have yet to be
made public. These measures are causing significant financial damage
to Quantum Global and the private equity funds that the company
manages on behalf of the Angolan sovereign wealth fund (FSDEA).
“We have notified the Government of Mauritius of our intention to
resort to international arbitration if this matter is not settled within six
months,” Mr Bastos said. Mauritius and Switzerland have a Bilateral
Investment Treaty that protects the rights of investors in the case of
disputes.
“As a result of the absence of due process and the rush to sanction
Quantum Global, the company has seen its business seriously
damaged. This has a real impact on our employees, our clients, our
partners and the important investment projects we are managing
across Angola and Africa. We urgently need to have a fair hearing,”
Mr Bastos added.
Quantum Global had applied to the Mauritius courts to release some
money from its frozen bank accounts to pay salaries and legal fees.
The hearing took place on Wednesday and the Financial Intelligence
Unit of Mauritius objected to the application, so the court set a further
hearing date for May 11.
“The delay in releasing funds to pay salaries and legal costs causes
further financial damage to Quantum Global and in particular, causes
further hardship for our employees, and indirectly the thousands of
hard working families who work for our portfolio companies in
Angola and Africa,” Mr Bastos said.
While the reasons for the initial court actions against Quantum Global
have yet to be officially disclosed, there has been a barrage of
unfounded allegations against Quantum Global in the Mauritius press.
Mr Bastos said: “We believe that the underlying accusations against
us will not stand up to scrutiny, which explains why they are not
being made public.”
“The truth is that all the money of the Angolan government is
accounted for in publicly disclosed accounts that have been
independently audited for a number of years. The overall FSDEA
portfolio has grown in value under Quantum Global’s management.”
“We fear that these actions against Quantum are a pretext for breaking
our contractual agreement with the Angolan wealth fund.”
Quantum Global has maintained that, from a legal standpoint, the
commercial rationale of the General Partner of the seven Limited
Partnerships registered in Mauritius remains, along with their
contractual legitimacy.
“We look forward to resolving this situation with the FSDEA in an
amicable manner,” Mr Bastos said.
ENDS