Connect with us

Hi, what are you looking for?

Jewish Business News


Arcadi Gaydamak Again Sues Lev Leviev in London Over $1 Billion

Arcadi Gaydamak alleges that the settlement with Lev Leviev over an Angolan diamond export venture is invalid.

lev-leviev 1           Lev Leviev                                                              Arcadi Gaydamak

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Russian-Israeli billionaire Arcadi Gaydamak is dragging Lev Leviev back to court in London, after the English High Court dismissed, in June 2012, Gaydamak’s suit brought against Leviev over profits from Angolan diamond exports, or more precisely, Gaydamak’s share of an Angolan diamond export venture, which he claimed that the two men had established.

In June 2012, the English High Court dismissed Gaydamak’s claim against Leviev, ruling that Gaydamak was not eligible for the billions of dollars for which he sued Leviev for his alleged share in an Angolan diamond export venture. “Globes” was the first to report Gaydamak’s evidence in his lawsuit against Leviev.

Judge Geoffrey Vos ruled that Gaydamak was not reliable. In the 70-page ruling, the judge said, “He was garrulous and unstructured in his answers and keen to act as his own advocate rather than focusing on the questions.”

Gaydamak sued Leviev for over $1 billion, which he claimed he was owed from the activity of Angola Selling Corporation (Ascorp), which had an Angolan government license to export diamonds. Gaydamak claimed that he had founded Ascorp, and that he invited Leviev to join the venture as a partner. Gaydamak claimed that, in late 2001, he and Leviev signed an agreement on the division of the company’s profits.

Leviev claimed that no such document had ever been signed by the two men, and that, in 2011, Gaydamak had agreed to waive his rights in Ascorp as part of a settlement.
In the new round, UK daily “The Guardian” reports Gaydamak is suing General Manuel Hélder Vieira Dias Jr., known General Kopelipa, one of Angola’s top generals for allegedly tricking and intimidating him into signing the 2011 settlement with Leviev over Ascorp. Gaydamak claims that, for this reason, the settlement with Leviev is invalid, and he is suing Leviev and General Kopelipa, for an undisclosed amount in damages.

“The Guardian” says that lawyers for Gaydamak declined to comment, the Angolan embassy in London did not return calls or emails, and Leviev’s law firm, Stewarts Law, says, “We regard the claim as baseless and without merit.”

Published by





You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.