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. Last Updated: 07/27/2016

Deripaska Blocks $3Bln Legal Claim

LONDON -- Billionaire Oleg Deripaska on Thursday won a court ruling blocking a massive lawsuit filed by a former friend and business partner.

Judge Julian Langley ruled that the writ, or statement of claim, filed by Mikhail Chyorny had not been validly served. The claim is purportedly worth ?1.5 billion ($3 billion).

Langley also ruled that Deripaska was not domiciled in England, and that Chyorny would need to seek court permission to attempt to serve papers outside that jurisdiction.

Chyorny, a resident of Israel, is claiming a 20 percent share in Deripaska's aluminum company, RusAl, on the basis of their former "effective partnership" and joint shareholding.

Chyorny, who said that he will seek permission to appeal the court's decision, was ordered to make a ?150,000 interim payment toward Deripaska's legal expenditures, which are estimated at more than ?400,000, The Times of London reported Thursday. (AP, MT)