Gaydamak Ordered to Pay Leviev $1 Mln in Legal Fees

(IDEX Online News) – After losing his bid for billions for his allegedly unpaid share in Angolan diamond revenues, the court ordered Arcady Gaydamak to pay rival Lev Leviev $1 million in legal fees.

The decision follows Judge Geoffrey Vos ruling rejecting lawsuit Gaydamak brought against Leviev for alleged non-payment of at least $1 billion Gaydamak claimed he is owed from a partnership in the Angola's Ascorp.

The Friday ruling found that Gaydamak's initial claim, that he and Leviev had a sign agreement between them, was true, even though the agreement was not presented and Leviev denied its existence.

However, the court also accepted that the sides have decided to terminate the agreement, nullifying Gaydamak's claim for unpaid income.