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Deripaska's lawyer told about aluminum assets acquisition deal with Abramovich

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10:41 23/11/2011

MOSCOW, November 23 - RAPSI. The Tuesday hearing of Berezovsky vs Abramovich case at the High Court of Justice in London focused on the ownership of the aluminum assets involved in the transaction between aluminum magnate Oleg Deripaska and Roman Abramovich, follows from the hearing transcript available to the Russian Legal Information Agency (RAPSI).

The court heard the testimony of the defendant's witness Paul Hauser, a partner of Bryan Cave law firm representing Deripaska.

The trial in the $5.5 billion dispute began on October 4, although the statement of claim was filed in 2007 when the defendant was the Chukotka Governor and the Russian Prosecutor General's Office issued an arrest warrant for the plaintiff.

Berezovsky claims in his lawsuit that Abramovich intimidated him and his partner Badri Patarkatsishvili into selling a number of assets, including a 43-percent stake in Sibneft and a share of the Rusal aluminum group, for significantly less than their value.

Abramovich sold 25-percent interest in RUSAL to Deripaska in 2003 so that the Basic Element increased its share in the company to 75 percent. Next year Basic Element became the sole owner of RUSAL.

According to earlier Deripaska's videoconference testimony he was unable to by 50 percent in RUSAL at once as he had not enough funds.

The interrogator then noted that Deripaska could not buy 50 percent all the same as only 25 percent was available. Berezovsky insisted in his statement of claim that the rest of the shares belonged to him and Patarkatsishvili.

The witness eventually agreed that the parties managed to reach a compromise. Abramovich admitted that the only person he was dealing with was Patarkatsishvili, who confirmed that he was the assets' beneficiary owner since March 2000. Thus all the formalities regarding the ownership rights have been observed.

Deripaska earlier said that he would not have negotiated the merger if he knew that Berezovsky was the Arbamovich's partner.

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Deripaska's lawyer told about aluminum assets acquisition deal with Abramovich

10:41 23/11/2011 The Tuesday hearing of Berezovsky vs Abramovich case at the High Court of Justice in London focused on the ownership of the aluminum assets involved in the transaction between aluminum magnate Oleg Deripaska and Roman Abramovich.
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