- My Account
- Logout
- Register
- Login
Abramovich given demand for £10m as he watches Chelsea game
26 May 2007
All offered congratulations except for one - which presented him with a legal document demanding repayment of a £10 million loan.
The dramatic moment at Stamford Bridge ended more than two years' efforts by the European Bank for Reconstruction and Development and its hired investigators to serve the papers on the Chelsea owner.
Richard Wallis, spokesman for the London-based EBRD, said: "The document was accepted in person by Mr Abramovich."
Asked why it had taken so long to serve it, Mr Wallis said: "If you are asking me whether it would be extremely difficult to serve on Mr Abramovich because he is surrounded by millions of bodyguards, then my answer is I don't want to comment. I'll leave it to your own imagination."
The whole saga goes back much further - to the 1998 collapse of the embryo Russian banking system.
The EBRD, created by the wealthy G7 nations, including Britain, to help former communist countries to build market economies, was lending millions to Russian entrepreneurs. Among them was oligarch Aleksandr Smolensky, who linked an EBRD-loan to his bank with a £10 million loan he had made to Abramovich's Swiss-based oil company Runicom.
Smolensky's bank collapsed and Runicom became bankrupt. But the EBRD still wanted its £10 million from Runicom and Abramovich's oil company Sibneft, sold to the Russian state in 2005.
Forty-year-old Abramovich, Britain's second wealthiest man with an estimated £11 billion, insists the money was paid back years ago.
But a Moscow court ruled in the EBRD's favour in 2002.
The EBRD then filed its claim in a Swiss court. It is understood the terms of the court order were that documents must be served personally. Mr Wallis said: "It's taken a long time but the EBRD has made every effort to deliver (the papers) as speedily as possible."
Now a Swiss judge will decide whether to hold a hearing. That may mean Abramovich facing an unwelcome court battle that could force him to open his accounts to scrutiny.
It has been a trying year for Abramovich. Although the draw against Valencia on April 4 - the night the papers were served - helped Chelsea progress in the Champions League, they were knocked out in the semi-final by Liverpool.
And recently he was divorced from his second wife Irina after 15 years of marriage.
Comments
Top stories in News
Top stories in News
-
No end to Tube nightmare as commuters warned of MORE chaos tonight
-
Double dip recession is worse than feared as UK faces ‘hurricane’
-
Mayor demands report from Transport for London into Jubilee Line nightmare that left hundreds of commuters trapped for hours underground
-
They attacked "like a pack" raining fists on a defenceless legal secretary. Yesterday they walked free from court. No wonder their victim says she has been denied justice.
-
Friends of football fan killed after Champions League final tell of 'horror' scene of his death
The O2
Check out the cool stuff happening under our tent such as the hottest gigs, comedy, sport, films, clubs, bars, restaurants and much more.
Can you imagine a career in teaching?
Be inspired to teach - let real teachers show you how rewarding the job can be.
Playing a game-changing role during the Games
Cisco is providing the solutions for London 2012's complex IT needs.
Win a Silverstone track day with Zantac 75
Feel the burn of a different kind - 20 Silverstone motoring experiences to be won
Reader Offers email A fantastic selection of
offers, giveaways and
promotions.
Cannes Film Festival - in pictures
Biggest ever image of the Queen, and she also appears made out of stamps, cheese and BEER
Man v Woman v Food: the big burger challenge
New kids from the Bloc: new wave of Russians settling in London
London drug dealer pictured himself with bags of cannabis and wearing crown of £20 notes
BarChick: Janet's Bar