Billionaire Gennadiy Bogolyubov is being sued by rabbi Yonah Pruss in a dispute over two central London properties which are worth hundreds of millions of pounds, the Evening Standard reports.
The rabbi claims that he and Mr. Bogolyubov set up a joint venture with surveyor Colin Gershinson to buy and operate the investment properties. Mr. Gershinson and Rabbi Pruss were to find the properties and Mr. Gershinson was to put up the money.
They claim they located and purchased 14 properties in different locations across the UK, two of which were a large office in Trafalgar Square for £173 million and a site in Knightsbridge that was purchased for £56 million.
When Rabbi Pruss asked for an update on the value of the properties, he discovered that the Ukranian billionaire had put them in a trust for himself and his family, leaving properties in locations such as Southport, Hendon, and Solihull in the joint venture.
Rabbi Pruss and Mr. Gershinson are claiming over £20 million in compensation for their share of the two deals and are demanding that the High Court order that the two London properties be put into the joint venture.
Mr. Bogolyubov’s solicitor, David Kavanagh says that his client will be contesting the claim, on the basis that the two London properties “were outside of the terms of the agreement.”
Mr Bogolyubov is confident that the court will rule in his favour and dismiss the claims of Rabbi Pruss and Mr Gershinson.
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