Vincent Tchenguiz ends High Court battle
Tuesday 13 March 2012
Billionaire property magnate Vincent Tchenguiz and a former friend today ended hostilities nearly a week after engaging in a multi-million High Court battle, lawyers said.
Mr Tchenguiz and businessman Keyvan Rahimian were "settling financial scores" following the breakdown of their friendship, a judge was told at the start of a High Court trial in London on March 7.
Lawyers said Mr Rahimian claimed to be owed about £6.7 million as a result of a "myriad of dealings" over two decades. Mr Tchenguiz disputed the claim and said he was owed nearly £2 million, Mr Justice Arnold heard.
But the trial was today halted and lawyers said the two men, who were both born in Iran but live in the UK, had agreed terms of settlement. A spokesman for Mr Tchenguiz said all parties had withdrawn all allegations.
Mr Rahimian had told the judge that he and Mr Tchenguiz had been childhood friends and regarded each other as "akin to brothers" before their relationship came to an "abrupt end" in 2008.
Lawyers had told the judge that Mr Rahimian was suing Mr Tchenguiz and two companies owned and controlled by Mr Tchenguiz - Vincos and the Rotch Property Group.
They said Mr Rahimian's claims related to his involvement in a mortgage lending business, the acquisition of motorway service businesses owned by Welcome Break, the creation of office computer systems and share buying.
Mr Tchenguiz claimed to be owed money from share trading ventures.
- 1 Video shows how to turn your phone into a 3D hologram
- 2 Artist Jamie McCartney: How The Great Wall of Vagina is a stand against 'body fascism'
- 3 Katie Hopkins reveals fear she will die during brain surgery to cure epilepsy
- 4 Dutch King Willem-Alexander declares the end of the welfare state
- 5 Michael B Jordan and Kate Mara handle excruciatingly awkward and offensive interview questions like pros
RideLondon 2015: Cyclist dies while climbing highest hill in Surrey during sportive
Katie Hopkins reveals fear she will die during brain surgery to cure epilepsy
Tensions flare as Confederate flag supporter reaches for gun when confronted by protests – in pictures
'Gene drive': Scientists sound alarm over supercharged GM organisms which could spread in the wild and cause environmental disasters
Tom Cruise: Reporters banned from asking actor about Scientology
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Jeremy Corbyn's anti-austerity agenda will harm poor, says Labour shadow Chancellor Chris Leslie
While we fixate on Calais, the Home Office is quietly deporting dozens of migrants on 'ghost flights'
Calais crisis: The seven claims made about the migrants - and the reality
iJobs Money & Business
Up to 70k DOE: Guru Careers: We are seeking an experienced Financial Director ...
£11000 - £50000 per annum: Recruitment Genius: This financial company offer ma...
competitive + incentives + uncapped comms: SThree: Did you know? 98% of our di...
competitive: SThree: Did you know? 98% of our directors started with SThree as...