Ruling opens can of worms for Deripaska

When Mr Justice Christopher Clarke heard opening arguments in April for Michael Cherney’s case to bring his $4bn claim for a 20 per cent stake in Oleg Deripaska’s Rusal to London, he was well aware of the importance of the plea. Noting in closing remarks in May that he was being asked to make a unique decision in the history of English arbitration, he then took a little more than two months before he issued Thursday’s ruling to grant the plea English jurisdiction. He based his decision on grounds that Mr Cherney had a “good arguable case” that could not be heard in Russia for fear he could be assassinated or arrested on trumped-up... [read full story]