Deals
Billionaires Win Dismissal of N.Y. Suit Over Russia Oil Deal
- Blavatnik and Vekselberg get lawsuit by businessman tossed
- Lebedev sued over sale of oil producer TNK-BP to Rosneft
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Billionaires Leonard Blavatnik and Viktor Vekselberg won dismissal of a five-year-old lawsuit by a Russian businessman who claimed they owed him billions of dollars from the sale of an oil and gas producer.
The businessman, Leonid Lebedev, sued the two in February 2014, saying he was entitled to 3.75% of the proceeds of the $55 billion sale of TNK-BP to Rosneft in March 2013. On Tuesday, a New York state judge granted the billionaires’ request to throw out the case before trial, saying a 2001 agreement between the parties didn’t entitle Lebedev to any more compensation than he had already received.