Norilsk Nickel, World's Top Palladium Miner, Wins UK Case

Norilsk Nickel, the world's largest nickel and palladium producer, said on Monday that it has successfully defeated all claims made by UC RUSAL against it in a court in the Caribbean's St. Christopher & Nevis.

The judgment was delivered on November 11, 2011 and came into effect upon its adoption by the court, Norilsk said in a statement. The proceedings were discontinued.

Norilsk Nickel was forced to suspend a multi-billion dollar share buyback offer in February after the court issued an injunction against it following a complaint by RUSAL, the world's largest aluminium producer and a Norilsk shareholder.

Norilsk also said it will sue RUSAL for damages and legal expenses.

In a separate statement, RUSAL said it will appeal the decision.