Russian Billionaire Wins High-Profile London Lawsuit

Russian billionaire Andrey Guryev successfully defended a London lawsuit brought by former friend Alexander Gorbachev over a lucrative stake in Phosagro. Gorbachev claimed oral agreements entitled him to a 24.75% interest in the fertiliser company, but the court dismissed the case, siding with Guryev.

Russian billionaire Andrey Guryev emerged victorious on Thursday in a high-profile lawsuit in London, brought against him by his former friend Alexander Gorbachev. The legal battle was over a significant stake in Phosagro, one of the world's largest fertiliser producers.

Gorbachev had asserted that he deserved a 24.75% interest in the company, now valued at approximately $2 billion, based on alleged oral agreements, including a purported conversation outside a London pub in the mid-2000s. Guryev, who stepped down as CEO of Phosagro in 2022 following U.S. sanctions, dismissed the claims as a “shakedown.”

Judge Mark Pelling delivered the court's decision on Thursday, rejecting Gorbachev's claims and ruling in favor of Guryev.

(With inputs from agencies.)