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. Last Updated: 07/27/2016

Forbes Told To Pay in Inteko Suit

Yelena Baturina, the country's only female billionaire and wife of Mayor Yury Luzhkov, won a libel suit against the editor of Forbes magazine's local edition after publishing a cover story on how she acquired her fortune.

Chertanovsky Court ordered Maxim Kashulinsky to pay Baturina's company Inteko 106,500 rubles ($4,089) in damages for publicly claiming that it pressured him to withdraw the article from the December issue.

"We will appeal the decision," said Kashulinsky's lawyer, Alexander Dobrovinsky, by phone in Moscow on Wednesday.

He said the defense would attempt to extend the case till December, hinting that could be a turning point for the legal battle, Interfax reported. December is when Luzhkov steps down as mayor.

Baturina's fortune almost tripled to $3.1 billion last year from $1.1 billion a year earlier, according to the U.S. edition of Forbes' annual world wealth survey published this month. That ranked Baturina No. 30 on the list of 52 Russian billionaires. Luzhkov, who has run the capital for 15 years, has presided over a building boom that has transformed Moscow and drawn criticism from preservation groups.

Inteko is also suing Axel Springer Russia, the Axel Springer unit that publishes Russian Forbes, over the same story, which claimed Inteko has benefited from Baturina's marriage to Luzhkov. That suit is scheduled to be heard April 4.(Bloomberg, MT)