Tuesday 25 June 2019

Chelsea owner Roman Abramovich in Swiss court over debt case

Legal action has been launched against the Russian billionaire and others in a bid to recover alleged debts left behind by one of his former companies.

Mr Abramovich outside the court in Fribourg (AP)
Mr Abramovich outside the court in Fribourg (AP)

By Associated Press Reporters

Russian billionaire and Chelsea FC owner Roman Abramovich has appeared in a Swiss court as part of a 19-year-old legal battle over 46 million Swiss francs (£33 million) in debts allegedly owed by him and others to a European bank.

Mr Abramovich was in court in Fribourg as part of a lawsuit brought by the London-based European Bank for Reconstruction and Development (EBRD) against Mr Abramovich, Russian oil tycoon Eugene Shvidler and the Russian energy company Gazprom Neft, a bank spokesman said.

The case stretches back almost two decades (AP)

The legal action aims to recover alleged debts left behind by Mr Abramovich’s now-defunct Runicom trading firm, which was based in Switzerland until its bankruptcy in 2003.

The initial amount sought by EBRD was 17.5 million Swiss francs (£12.74 million), but the claim has grown to 46 million francs to include interest and costs.

Press Association

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