Russian Billionaire Loses Appeal Against $95M Award

Law360, London (February 6, 2020, 1:57 PM GMT) -- An English appeals court on Thursday dismissed a Russian billionaire's second attempt to overturn an arbitration award requiring him to pay $95 million to a business associate after pushing him out of a deal to redevelop a factory.

Oleg Deripaska knew who he was in business with regardless of the name on the contract, the Court of Appeal ruled.

Deripaska, who is the subject of U.S. sanctions and reputedly close to the Kremlin, understood that Vladimir Chernukhin was the real business partner behind plans to buy and develop a factory in Moscow, even though his name doesn’t appear in writing, the...

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