Vekselberg, Blavatnik sue Rusal, Glencore, Deripaska over $47 bn supply contract

Apr 06, 2012 | 06:27 AM |

Russian billionaires Victor Vekselberg and Leonard Blavatnik have filed a lawsuit against United Co Rusal and Glencore International among others, over the supply contract approved by the company’s board late last year, a person with knowledge of the situation told Metal Bulletin on Friday April 6. The lawsuit, also filed against Rusal’s major shareholder Oleg Deripaska and his holding company EN+, through which he holds his 47.4% stake in the aluminium maker, has been placed with the London Court of International Arbitration, the source said. Vekselberg and Blavatnik, who hold a joint 16% stake through their Sual partnership, are challenging in their lawsuit a contract approved by Rusal’s board late last year that would supply....

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