U.K. Court Rules On Diamond Mine Case

Bloomberg reported Arkady Gaydamak lost his London lawsuit today against Africa-Israel Investments Ltd. Chairman Lev Leviev over an Angolan diamond business.

As quoted in the market news:

A U.K. court ruled against Gaydamak’s claims to profits from the diamond venture they co-owned, saying there had been a signed agreement between the men settled in August 2011.

The suit pitted two well-known Israeli businessmen against one another. Leviev, whose Africa Israel Investments was one of Israel’s largest real-estate companies before it refinanced debt in the wake of the 2008 global economic crisis, is also known for his diamond business. Gaydamak, 59, failed in his attempt to run for mayor of Jerusalem and is known for giving temporary refuge to Israelis who were living under rocket fire.

Click here to read the full Bloomberg report.