TRG International says Bermuda court ordered transfer of Zia Chishti’s shares to court receiver

The Supreme Court of Bermuda has ordered the immediate transfer of all shares held by former chairman Zia Chishti in The Resource Group International Limited (TRGI) to a court-appointed receiver for sale, with proceeds to be applied toward satisfying an outstanding arbitration award, TRGI said in a statement on Monday. The ruling could mean a major setback for Chishti’s attempts to regain control of the TRG group, centered on its Pakistan Stock Exchange-listed affiliate, TRG Pakistan Limited. The January 19, 2026, order follows Chishti’s failure to satisfy an arbitration award exceeding $9 million issued on April 22, 2025, which found he breached a legally binding contract by pledging shares in TRG Pakistan as collateral for a 2022 JS Bank loan used to acquire additional TRG Pakistan shares via his spouse. The Bermuda court confirmed the award in July 2025 and dismissed Chishti’s objections in October, allowing enforcement. Proceeds from the sale of his TRGI shares will partially satisfy the award.