The High Court of England has decided to ban London-based Balmore Invest Limited from carrying out activities related to the sale of the TVI Channel, the channel's former director general, Natalia Katerynchuk, has said.

"The High Court of England has made a ruling on a lawsuit filed by Konstantin Kagalovsky and Wilcox Ventures Ltd. against Balmore Invest Limited, which banned the latter from carrying out any agreements and passing to third parties, nominal holders and agents any shares in Ukrainian-based Media Info, if this leads to the loss of direct and permanent control over these shares," she told reporters.

She said that the decision was taken on May 8 by Judge William Blair.

As reported, on April 23, 2013, the press service of TVi reported that Artem Shevchenko had been appointed the new director general of the channel, replacing Natalia Katerynchuk. The new investor in the channel is prominent U.S. businessman Oleksandr Altman, who said his priority is to save the television channel as an objective source of information in Ukraine.

Altman said that he is the final beneficiary of the British company Balmore Invest Limited (London), which owns a 95% stake in Media Info LLC, which in turn holds a 100% stake in TeleRadioSvit television and radio broadcasting company – the TVi Channel.

However, TVi owner Konstantin Kagalovsky said there has been an illegal takeover of the channel, adding that he had not signed any papers to sell the channel and the documents had been forged.