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.