Russian Businessman Urges Court To Set Aside $95M Award

Law360, London (December 3, 2019, 4:42 PM GMT) -- Lawyers for Russian billionaire Oleg Deripaska told an English appeals court on Tuesday that a lower court had misinterpreted a shareholder agreement at the heart of a long-running dispute with a business associate when it allowed a $95 million arbitration award to stand.

Deripaska's attorney called the decision "entirely unworkable" as he urged the Court of Appeal to overturn a decision in February at the High Court. Judge Nigel Teare had dismissed the oligarch’s challenge to an arbitration award requiring him to pay $95 million to Vladimir Chernukhin, a former deputy finance minister in Russia, after a dispute over valuable real estate...

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