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Legal News

: International and UK Law

Tajik Aluminium fraud claim settled

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One of the most expensive lawsuits in British history has been settled after three years. The case in the High Court in London arose from a fight in Tajikistan for control of an aluminium smelter. Tajik Aluminium Company (Talco), the state-controlled operator, accused Azar Nazarov, its former business partner, of defrauding it of more than $500 million ($£325 million). Mr Nazarov denied the allegations and sought $130 million in a counterclaim. Talco said that a settlement had been reached and proceedings terminated with no admission of liability by either side.$

Full post as published by International and UK Law on November 27, 2008 (boomark / email).

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