Oleg Deripaska - Lawsuits

Lawsuits

On 24 November 2006, Michael Cherney brought legal action against Deripaska in the Commercial Court of the High Court in London. Cherney sought a declaration that he was the beneficial owner of 20 percent of Rusal's stock which, he claimed, Deripaska held in trust for him. The claim was denied. On 3 May 2007, Mr Justice Langley ruled that Deripaska had not been properly served and that the court had no jurisdiction to try the claim under English law, because Deripaska was not domiciled in England and Wales. On 3 July 2008, Mr Justice Christopher Clarke ruled that the case should be tried in England, although "the natural forum for this litigation is Russia", because, he held, "risks inherent in a trial in Russia... are sufficient to make England the forum in which the case can most suitably be tried in the interest of both parties and the ends of justice". On 22 July 2008, he granted Deripaska leave to appeal. The Court of Appeal of England and Wales refused the appeal on 31 July 2009.

At a June 2011 case management conference, the judge deferred a decision on whether Cherney would be allowed to give evidence by video link from Israel rather than appear in person as an outstanding Interpol arrest warrant means he would be detained if he traveled to the UK. In late July 2011, the High Court ruled that Cherney may give evidence at the trial by video link from Israel and set trial for April 2012.

In September 2012, Cherney terminated his UK lawsuit against Deripaska.