Russian Developer Fights $4M Claim In Sochi Olympics Suit
Law360, London (February 16, 2021, 2:48 PM GMT) -- A developer who built venues for the Sochi Olympic Games has denied owing a businessman $4 million in commissions for selling properties on the site in Russia, arguing that there was no legally binding contract in place.
Magomed Bilalov denies claims that he disappeared to England owing Leonid Khanukaev a payment of 5% on the $81.7 million he allegedly made selling developments in a ski resort known as Gorky Gorod for Krasnaya Polyana OJSC, which built most of the Olympic facilities.
Khanukaev's lawsuit says the terms of his commission payment were laid out in a handwritten note from 2010. This is a contract governed by...
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