Winston & Strawn Client Wins Right to All Debts and Obligations from Oleg Deripaska to Michael Cherney

NEW YORK, NY — In the latest move in a protracted legal battle between two Russian businessmen, Winston & Strawn LLP partner W. Gordon Dobie, Alexander Gliklad’s legal counsel, won an order declaring that the $505 million judgment he obtained for Gliklad in April 2014 can be enforced against debts owed to Michael Cherney.

Justice Schweitzer ruled that Gliklad “has the right to all debts and obligations due and owing to Defendant (Cherney), and the right to receive payment thereof, from Iskander Makhmudov and Oleg Deripaska.”

Oleg Deripaska is Chief Executive Officer and a major stockholder of United Company RUSAL, the largest aluminum company in the world, and Iskander Makhmudov is Founder/President of Ural Mining and Metallurgical Company and a major stockholder of KuzbassRazreUgol (Kuzbass Coal).

This ruling comes on the heels of an order by Justice Schweitzer allowing Gliklad to serve a restraining notice freezing former Russian oligarch and Israeli billionaire Michael Cherney’s assets around the world to satisfy the judgment.

Background

After a five-year litigation battle, Mr. Dobie prevailed on April 15, 2014, and obtained judgment in New York County Supreme Court for Winston & Strawn client Alexander Gliklad. Gliklad is a former chairman and a major stockholder in Kuzbass Coal, one of the largest coal companies in the world. Michael Cherney, a former Russian oligarch and Israeli billionaire, is the self-professed developer of the Hotel Gansevoort and other property interests in New York’s Meatpacking District.