SCANDAL IN THE COURTS: RUSSIAN BILLIONAIRE GOES BANKRUPT OVER FERTILIZER FIASCO!
THE BATTLE OF THE BILLIONAIRES: WHO’S GONNA PAY UP?
Hold onto your hats, folks! A sanctioned Russian billionaire, Andrey Guryev, has thrown down the gauntlet—he’s filed a bankruptcy petition in London against his former associate Alexander Gorbachev! Why, you ask? Over mind-blowing legal costs from a bitter dispute involving a stake valued at hundreds of millions in one of the WORLD’S LARGEST fertilizer producers! The drama is REAL.
FROM SAUNA SECRETS TO COURTROOM SHOWDOWNS!
Last year, Gorbachev tried to take Guryev to court, claiming the millionaire made a big verbal promise to give him a hefty interest in PhosAgro. But wait—this wasn’t just a boardroom deal; oh no! These conversations reportedly happened in a sauna and outside a pub! Talk about a wild negotiation style! But Gorbachev’s lawsuit went up in flames when the High Court found his story full of “unexplained and unexplainable inconsistencies.” Ouch!
Now, Gorbachev is left licking his wounds after the judge slapped him with a £12 million legal bill—yikes! With only £10 million in litigation insurance to save him, he’s got a £2 million hole to fill.
BILLIONAIRES IN FINANCIAL FIGHT!
In a twist that could only happen in the wild world of high finance, Guryev has now demanded repayment—by filing a bankruptcy petition that could lead to the court confiscating Gorbachev’s assets! Talk about putting the squeeze on!
Gorbachev, who has been dodging legal bullets since fleeing Russia for asylum in the UK back in 2004, claims he deserves 25% of Guryev’s shares—worth a jaw-dropping several hundred million dollars! His arguments? “Meaningful” conversations from years ago, including their infamous sauna chats. But Guryev isn’t buying it—he’s calling Gorbachev’s claims a “shakedown” with “no factual basis.”
THE COURTROOM DRAMA CONTINUES!
This may be just another battle in the endless wars of Russian oligarchs, but the stakes are sky-high! A trial last year dragged on for six weeks, with Judge Mark Pelling KC even taking the action to Dubai to hear Guryev’s testimony, all thanks to those pesky sanctions!
And the latest twist? The bankruptcy petition is being contested! The courtroom saga isn’t over yet, folks; it’s been adjourned to a later date. Buckle up, because this high-stakes drama over a fertilizer fortune is far from finished. Stay tuned for more jaw-dropping updates!
photo credit: www.ft.com
