LUANDA, Angola, June 29, 2012/ — Today, 29th June 2012, Mr. Justice
Vos handed down his judgment in the dispute between Arcadi Gaydamak
and Lev Leviev.
The dispute, which played out in the London High Court in May and June
2012, centres on the profits of the Angolan diamond industry, one of
the world’s biggest diamond producers.
This trial addressed two key issues.
First, was there a binding and enforceable agreement signed and
entered into by both parties in 2001 and entrusted to Rabbi Berel
Lazar, the Chief Rabbi of Russia, for safekeeping? Mr. Leviev
consistently and strenuously denied that such an agreement existed and
Rabbi Lazar, having eventually admitted that he had been given an
envelope to look after, then claimed to have either lost or destroyed
it.
David Wolfson QC stated in submissions to the Court: “Mr Gaydamak has
told the truth about the 2001 Agreement and Mr Leviev has consistently
lied. Mr Leviev’s evidence was not only untrue, it was an orchestrated
untruth. The “King of Diamonds” has been shown to be a knave.”
The Judge has also found that the agreement was indeed entrusted to
Rabbi Berel Lazar for safe keeping, as claimed by Mr. Gaydamak. He
stated that the loss of the envelope was “convenient for Mr Leviev,
but hardly coincidental”.
Arcadi Gaydamak commented: “I have maintained all along that we had an
agreement. It was always surprising and disappointing that Mr. Leviev
and Rabbi Lazar persistently lied in this regard”.
In his judgment, Mr. Justice Vos noted that Mr. Leviev approached the
case with a sense of “arrogance” and had effectively to “re-written
history” by questioning Mr. Gaydamak’s role in the restructuring of
the Angolan diamond mining and export industry.
The judge acknowledged Mr. Gaydamak’s role in assisting the Angolan
Government in obtaining control of the diamond industry at the height
of the civil war, thus securing the benefits of exports for the
Government and precluding their use by rebels.
Arcadi Gaydamak commented: “That Mr. Justice Vos has recognised the
role I played in assisting the Angolan government, as well as my role
in conceiving and developing the establishment of Ascorp, is
particularly important.”
The second key issue addressed by the court was whether Mr. Gaydamak’s
claim was settled pursuant to a ‘drop hands’ Settlement Agreement
signed in 2011, whereby Gaydamak agreed to give up all claims against
Mr. Leviev.
The Judge has upheld this agreement and Gaydamak is applying for
permission to appeal, in order to obtain the cancellation of this
purported agreement.
Arcadi Gaydamak commented: “I have said all along that I was
bamboozled into signing the settlement agreement as a result of the
representations of General Kopelipa on behalf of Mr. Leviev. Pending
the decision to appeal, the court has recognised that I have told the
truth throughout, it has recognised my immense contribution to the
Angolan diamond mining industry and wider economic and political
stability, and it has recognised that Mr. Leviev and Rabbi Berel Lazar
have, to my disappointment, consistently lied throughout. I welcome
the Judge’s findings on those key points”.