By John Helmer, Moscow
@bears_with
The New York State Supreme Court has ruled to dismiss Leonid Lebedev’s (lead image, right) five-year case against Victor Vekselberg (first left) and Len Blavatnik (second left) for a 15% share of their £13.8 billion sale of the TNK-BP oil company to Rosneft in 2013. Lebedev has been suing for an award of $2.7 billion. In London he has been trying to bank on winning the payoff.
In a 19-page ruling, issued on Tuesday at noon, Judge Saliann Scarpulla (second from right) dismissed all Lebedev’s claims for money from the 2013 Rosneft transaction. She also ordered Lebedev to pay “costs and disbursements to defendants as taxed by the Clerk upon the submission of an appropriate bill of costs.” The cost of the litigation for Vekselberg and Blavatnik, which has also extended to courts in London, Ireland, Cyprus and Switzerland, is almost $20 million; Lebedev’s costs are about the same.
Lebedev fled Russia in April 2015, abandoning his Federation Council seat. At the time he feared expulsion from the Senate for lying about his foreign citizenship and assets. He was also facing a criminal investigation of embezzlement of about $240 million from a regional electricity utility, TGK-2. This he had acquired with the patronage of Anatoly Chubais, once the head of the state’s electricity holding, UES.
Lebedev found safe haven in the US and Cyprus; the former by arrangement with the US State Department; the latter from President Nikos Anastasiades and his law firm in Limassol. They arranged a Cyprus passport for Lebedev which they kept secret from the Cyprus courts just as Lebedev kept it secret from the Russian Senate.
Lebedev started his New York court case in February 2014, choosing the Manhattan branch of the state court because Vekselberg and Blavatnik had lived and conducted business in New York, and because Lebedev claimed they had negotiated their deal in a walk through Central Park in Manhattan. Lebedev alleged Vekselberg and Blavatnik had violated the terms of their original deal in 2001, and cheated him over the ensuing years. Vekselberg and Blavatnik countered that Lebedev had been paid everything which had earlier been agreed between them; concealed his money through an Irish front company and in bank accounts in Switzerland, Cyprus, Ireland, and New York; and then lied in the US court papers.
In Scarpulla’s ruling this week, she said Vekselberg and Blavatnik “have shown that the 2001 Investment Agreement lacks contemporaneous consideration and, consistent with Korff, Lebedev has failed to raise an issue of fact on this issue.” That’s judicial language dismissing Lebedev’s lawsuit for faking terms of the agreement which had not been agreed; and failing to prove evidence of his right to benefits. By ordering Lebedev to pay his own costs, plus Vekselberg’s and Blavatnik’s costs, Scarpulla has ruled that Lebedev never had a case to argue and fabricated his evidence from the start. (more…)






















