Major litigation case settled before planned resumption
28th September 2012
One of the most significant litigation cases to have been played out in the British courts so far this year has been abandoned ahead of its planned resumption next week at London’s Rolls Buildings.
It has been reported that an out of court settlement has been reached between businessman Michael Cherney and Oleg Deripaska, the chief executive of RUSAL, the largest aluminium company in the world.
Sources close to the latter confirmed in a statement that Mr Cherney has dropped his action and that there are not plans for any further comments to be made on the matter.
This surprising development means that a number of solicitors with top London lawyer jobs will now no longer be instructed to give counsel to either side; the sector was set to be given a great deal of work from the case, which was expected to last for around a year and involve no less than 70 witnesses in total.