News

Judge ends battle of tycoons

April 24, 2014 18:34

By

Simon Rocker,

Simon Rocker

1 min read

Russian-Israeli businessman Arkady Gaydamak has lost a fresh claim in the British courts against tycoon Lev Leviev over a Angolan diamond deal worth more than a billion pounds.
High Court judge Mr Justice Mann granted an application from Mr Leviev, who is also of Russian-Israeli background, to strike out the case nearly two years after a previous court judgment.

The case goes back to 2001 when the two businessmen agreed a partnership over the export of gems from the African republic.

Mr Leviev denied making any deal but, at a hearing in 2012, Mr Justice Vos accepted Mr Gaydamak's evidence that the two men had made a deal.

However, the judge ruled that Mr Leviev was not liable to pay Mr Gaydamak any money, accepting that a previous agreement between the two men dropping all legal claims, was valid.

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