The English High Court in London this morning ordered Arcadi Gaydamak to pay Lev Leviev the equivalent of about $1 million in legal costs.
The ruling by Judge Geoffrey Vos followed his ruling on Friday in favor of Leviev in the lawsuit brought against him by Gaydamak for alleged non-payment of at least $1 billion in an Angolan diamond venture.
Judge Vos also refused Gaydamak leave to appeal against the dismissal of his case.
In his 70-page ruling, the judge said, “He (Gaydamak) was garrulous and unstructured in his answers and keen to act as his own advocate rather than focusing on the questions."
Gaydamak claimed that he invited Leviev to join the diamond venture after advising the Angolan government on licensing in 1998, and that, in 2000, they agreed to divide ownership of a new company, Angola Selling Corporation (Ascorp), to export diamonds from Angola and share the profit.
Published by Globes [online], Israel business news - www.globes-online.com - on July 2, 2012
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