By Jane Croft
A $1.8bn High Court battle between Russian aluminium tycoon Vasily Anisimov and the family of the late Badri Patarkatsishvili, a Georgian billionaire, has settled days before trial.
The litigation, which was due to start next week, had been brought by Badri Patarkatsishvili’s widow Inna Gudavadze and her family against Mr Anisimov.
The case centred around allegations that the family had a part-entitlement to the 20 per cent share formerly held by Mr Anisimov in mining company Metalloinvest. Details of the settlement are confidential.
The dispute had stemmed out of a related $6.5bn lawsuit in 2011 between Russian oligarchs Boris Berezovsky and Roman Abramovich, the owner of Chelsea football club, over stakes in energy and aluminium companies.
Mr Patarkatsishvili, who died in 2008, had been a close business associate of the late Mr Berezovsky. Both men had acquired substantial wealth during the break up of the Soviet Union and later both moved to the UK.
Mr Berezovsky later sued Mr Patarkatsishvili’s widow and family, claiming that half the Georgian billionaire’s assets belonged to him.
However, after his crushing defeat in the High Court battle against Mr Abramovich, the oligarch settled much of his outstanding litigation – including his dispute with Mr Patarkatsishvili’s family. Mr Berezovsky also dropped a case against Mr Anisimov relating to a stake in Metalloinvest before he died last March.
The Patarkatsishvili family also brought separate legal proceedings against Mr Anisimov, which have now been settled.
Ben Marson, general counsel for Inna Gudavadze, and her family, said: “I am very pleased to confirm that a settlement has been reached between my clients and Mr Anisimov which conclusively brings to an end the long-running dispute. “My clients are now looking forward to focusing on their business interests and charitable projects.”
Graham Huntley of law firm Signature Litigation, acting for the Patarkatsishvili family, confirmed that a confidential settlement had been reached. “The family is pleased to be able to put this matter behind them.” he said.
Notes to Editors
Signature Litigation was launched in April 2012 and is a specialist law firm focused solely on commercial and financial market litigation. Graham Huntley established the firm in response to demand for focused, highly experienced commercial litigation expertise in complex, international cases.
The firm is currently acting in two of the top 20 law cases of 2014, according to a recent report in The Lawyer: