Ilim Pulp sues tycoons in top London court
One of Russia's largest forestry concerns has taken its long-running feud with some of the nation's most powerful businessmen to Britain. St. Petersburg-based Ilim Pulp said Tuesday it had filed suit in London against Russian Aluminum co-owners Oleg Deripaska and Roman Abramovich, Sibneft president Eugene Shvidler and other parties involved in an ownership dispute with Deripaska's industrial holding, Base Element, over forestry assets in Irkutsk.
One of Russia's largest forestry concerns has taken its long-running feud with some of the nation's most powerful businessmen to Britain. St. Petersburg-based Ilim Pulp said Tuesday it had filed suit in London against Russian Aluminum co-owners Oleg Deripaska and Roman Abramovich, Sibneft president Eugene Shvidler and other parties involved in an ownership dispute with Deripaska's industrial holding, Base Element, over forestry assets in Irkutsk.
The lawsuit, filed in the London Court for International Arbitration, says Deripaska, Abramovich, Shvidler, RusAl, BasEl, Sibneft, St. Petersburg banker Vladimir Kogan and Base Element's forestry subsidiary Kontinental Management violated an agreement concerning the transfer of shares in various companies, said Simon Cockshutt of Coudert Brothers, Ilim's chief litigator in London.