The long-running $4 billion dispute between two Russian businessmen for a 20 percent stake of aluminum giant RUSAL is set to be heard in the U.K. courts. Last week a judge confirmed Michael Cherney could pursue his claims against RUSAL owner Oleg Deripaska in England. Israel-based Cherney claims that as a result of a deal struck in London in 2001, Deripaska agreed to hold a 20 percent stake in RUSAL in trust for him. The judge ruled that there was a risk that Cherney could not get a fair trial in Russia.
$4 Billion RUSAL Dispute Set for U.K. Courts
July 7, 2008