English | دری

Russian Billionaires in dispute over USD 1bn stake

in International Business

Russian Billionaires in dispute over USD 1bn stake

The Russian Oligarch Oleg Deripaska is alleged to owe 13.2% stake in Rusal, the world’s biggest aluminum producer, to Michael Cherney.

Mr. Cherney claims that they signed a document in 2001 in London and made a verbal agreement over ownership of the Rusal stake, something Mr Deripaska denies.

Mr Deripaska acknowledges he paid $250m to Mr Cherney but says it was to settle another business matter.

The case is expected to take months to hear, calling some 70 witnesses, with Ukrainian-born Mr Cherney giving evidence from his home in Israel via video link.


Tags assigned to this article:
Oleg DeripaskaRussia billionaire

Related Articles

India’s Kaushik Basu appointed as World Bank Chief Economist

Former economic adviser to the Indian government, Kaushik Basu is named the chief economist of the World Bank. Mr. Basu

OPEC leaves oil output ceiling unchanged

The Organization of the Petroleum Exporting Countries (OPEC) decides to leave its oil out ceiling unchanged by calling on the

Spanish public debt reaches its record high

Public debt in Spain is currently standing at USD 1.3 trillion, which is about 92% of the country’s economic output.

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.