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Zambia Court Orders Liquidation of Billionaire Leviev’s Company

  • Israeli diamond magnate to contest order, his lawyer says
  • Leviev and local partner have been at odds over emerald mine

A Zambian court has ordered the liquidation of a company owned by Israeli diamond billionaire Lev Leviev as the fight with his local partner in an emerald mine rages on.

The Zambian High Court placed Frango Finance Ltd., which owns half of Gemcanton Investments Holdings, in compulsory liquidation after receiving a petition on Feb. 18, according to a statement published in the Daily Nation newspaper.