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 boosts presence in West Africa with trade, cooperation

India’s footprint is growing in West Africa, especially in two main players in the region, Nigeria and Ghana, with increased

Yahoo 'ordered to pay $2.7bn' by Mexican court

Internet group Yahoo has been ordered to pay $2.7 billion as part of a lawsuit filed in Mexico by two

China’s exports and imports see slower growth

China’s export and import growth slowed in April raising fresh fears about a sharp slowdown in the world’s second-largest economy.

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Your e-mail address will not be published.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.