Oleg Deripaska lost with the High Court of London a lawsuit against the former head of VEB, Vladimir Chernukhin, follows from court documents. The billionaire tried to challenge the decision of the International Court of Arbitration in London, in 2017, recognizing Chernukhin as Deripaska’s partner in the Three-Mount Manufactory - a company of the same name and complex of buildings in Presnensky district of Moscow. The High Court also dismissed the suit of Lolita Danilina, Chernukhin’s former common-law wife, who called herself the real co-owner of the Trekhgorny manufactory.
Having sided with Chernukhin, the High Court actually confirmed its version of how the shares of the Three-Mountain Manufactory were acquired. According to her, in 2001, Chernukhin became interested in the possibility of acquiring a controlling stake in Trekhgornaya Manufactory, on whose balance sheet there was a complex of buildings on an area of almost 12 hectares. He suggested that Deripaska become a partner. The co-owner of Basic Element agreed, and in 2002 the partners acquired control in the Trekhgornaya Manufactory for about $ 10 million, Deripaska became the majority shareholder. Chernuhin said to the court that Deripaska did not need him as a financial partner - he wanted “the famous private businessman to be the face of the project”. Chernukhin himself could not engage in private business, since in 2001 he was Deputy Minister of Finance, and in 2002 he headed VEB. His interests in the project were to be represented by Lolita Danilina, who headed the "Three-Mountain Manufactory".
In 2004, Chernukhin was fired from VEB and moved to London. In the spring of 2005, his relationship with Deripaska was formalized by a shareholder agreement. According to him, Filatona Deripaska and Navigator Equites Chernukhin, whose nominal beneficiary was Danilin, became equal partners in the Navio company - the owner of the manufactory. However, the relationship between the partners deteriorated, and in 2010 Chernukhin agreed to sell his stake in Navio for $ 100 million to Deripaska. According to Chernukhin’s attorney, Jonathan Crowe, this was preceded by an “armed seizure” of the Three-Mount Manufactory by Deripaska’s people.
Chernukhin never received money for his share. He filed a lawsuit against Deripaska in the High Court of London. In 2017, the court sided with the former head of VEB and ordered Deripaska to pay $ 95.2 million to that. The billionaire did not agree with this decision and tried to challenge it. As a pledge in this litigation, he had to give the High Court of London shares of unnamed companies worth $ 245 million. At the same time, Danilina filed a lawsuit against Chernukhin, trying to prove that she was Deripaska's real partner (at the same time Deripaska agreed to incur court costs of $ 2 million). The London court merged the proceedings and, after the final hearing, held on January 18, 2019, Judge Tire sided with Chernukhin.
"Bias and unfair conclusions"
Oleg Deripaska is self-righteous and will use “all possible legal means to appeal against a court decision in order to achieve a fair result,” a representative of the businessman told Forbes. Deripaska’s party is sure that Chernukhin and his witnesses lied in court, and the document he used as proof of his case was a fake. “Mr. Chernukhin continued to use this document in support of his position and in court, until shortly before the end of the hearings the fact of a forgery was not disclosed,” the representative of the businessman said. Deripaska's side calls the court’s findings “biased and unfair”.