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Tuesday 20th March 2018

Russian Billionaire Abramovich’s Debt Case

Business

Aigul Minabutdinova - AP

Fri, 04 May 2018 09:20 GMT

Russian billionaire and Chelsea soccer club owner Roman Abramovich has appeared in a Swiss court as part of a 19-year-old legal case aimed at recovering 46 million Swiss francs ($46 million) in debts allegedly owed by him and others to a European bank.

Abramovich was in the Fribourg court as part of a lawsuit brought by the London-based European Bank for Reconstruction and Development against Abramovich, Russian oil tycoon Eugene Shvidler, and the Russian energy company Gazprom Neft, a bank spokesman said on Wednesday.

The suit aims to recover alleged debts left behind by Abramovich’s now-defunct Runicom trading firm, which was based in Switzerland until its bankruptcy in 2003.


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