A raft of City firm roles came to an end last week when the $2bn (£968m) dispute over Russian telecoms company Megafon finally settled after four years.

SJ Berwin litigation partner Justin Michaelson was advising investment boutique LV Finance, which was being sued by Bermuda-based fund IPOC International Growth Fund over a 25% stake LV had held in Megafon.

IPOC, advised by Winston & Strawn corporate partner Barry Vitou, had claimed it was entitled to the Megafon stake in question under a series of options. LV had, however, sold the shares to CT-Mobile, a company ultimately controlled by Russian financial-industrial conglomerate Alfa Group.

Freshfields Bruckhaus Deringer was instructed for CT-Group under dispute resolution partner Nigel Rawding. Lovells was instructed by Alfa fielding a team led by litigation partner Chris Hardman.

The parties fought a series of battles in Europe and the Caribbean, with IPOC arguing that as the rightful owner of the stake it should be protected by Russian law. A Swiss court ruled last year that IPOC was a vehicle to hide ownership of Russia's telecoms minister, Leonid Reiman, although he has denied the claims.

The settlement, which was validated by the High Court in Bermuda, means IPOC is no longer able to claim the shares.

Michaelson, who brought the case to SJ Berwin when he joined from Weil Gotshal & Manges at the start of the year, said: "It has been a drawn-out process involving two arbitrations in Switzerland, arbitration in Stockholm, court of appeal in the British Virgin Islands, privy council in the UK, three sets of antecedent in Bermuda, proceedings in New York and recognition in Bermuda."