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Nathaniel RothschildRepresentative of the Rothschild dynasty
Date of Birth: 29.04.1936
Country:  Great Britain |
Content:
- The Rothschild-Daily Mail Libel Case
- The Alleged Secret Meeting
- Rothschild's Libel Suit
- The Legal Proceedings
- Courtroom Revelations
- Business Discussions and Political Implications
- A Conflict of Interest?
- Media Sensation
The Rothschild-Daily Mail Libel Case
The Libelous ArticleOn January 27, 2023, the High Court in London was scheduled to rule on a high-profile libel case initiated by billionaire Nathaniel Rothschild against Associated Newspapers, the publisher of the tabloid The Daily Mail. In 2010, the newspaper accused the scion of the renowned banking dynasty of facilitating a meeting between European officials and a Russian oligarch.
The Alleged Secret Meeting
The Daily Mail's article, published in May 2010, claimed that five years prior, Rothschild had arranged an encounter between Oleg Deripaska, a Russian aluminum magnate, and Peter Mandelson, the European Commissioner for Trade (later Lord Mandelson and Business Secretary under Tony Blair). The meeting reportedly led to a billion-dollar deal for the sale of two Deripaska-owned factories to the American metals company Alcoa.
The author of the article alleged that Rothschild had invited Mandelson to the meeting to "impress" Deripaska. Additionally, the factories Deripaska planned to sell were located in Russia, and the European official, according to The Daily Mail, could "assure" the parties that import tariffs on aluminum from Eastern Europe would not increase in the coming years—which, incidentally, transpired.
Rothschild's Libel Suit
Rothschild deemed the article defamatory, portraying him as a "puppet master" engaged in underhanded dealings. In July 2010, he filed a lawsuit against the publisher, seeking "substantial damages" (the precise amount undisclosed) for reputational harm.
The Legal Proceedings
Subsequent investigations revealed that The Daily Mail lacked evidence to support Mandelson's presence at the fateful dinner. In December 2011, the article was removed from the tabloid's website (and is currently unavailable even through its archive; it can only be accessed via numerous reprints).
However, the publisher declared its intention to defend its position in court, arguing that the lawsuit concerned reputational damage, not the accuracy of the allegations, and that the publication stood by its claims. The hearings began on January 23 in London and were expected to last five days.
Courtroom Revelations
As the trial progressed, numerous details emerged, further complicating the narrative. Rothschild's lawyers maintained that the 2005 visit to Deripaska's residence in Russia was purely recreational, and Mandelson accompanied them as a friend in a purely private capacity.
Rothschild provided the court with a detailed account of their time in Abakan, at the invitation of Deripaska. They briefly toured one of the host's businesses and spent the rest of the day in a Russian sauna, complete with birch branches and ice-water plunges. "It's the world's best cure for jet lag and anything else," Rothschild proclaimed. "Exhilarating. Everyone woke up the next morning feeling refreshed and optimistic."
The court documents even mentioned the gender and age of the bath attendant who fanned the guests with birch branches. Reporters recalled that Peter Mandelson's name had been linked to Deripaska in 2008, when it was reported that while visiting Rothschild's villa on Corfu, he had also boarded Deripaska's yacht, which was anchored nearby. At the trial, Lord Feldman, the deputy chairman of the Conservative Party, testified that during that visit, the Russian businessman had offered to make a donation to the Conservatives.
Business Discussions and Political Implications
It also emerged that the visit had a business dimension. According to The Financial Times, Rothschild, Deripaska, and Peter Munk, the head of Canadian mining company Barrick Gold, were exploring the possibility of setting up a joint venture. One option was to acquire the Russian company Polymetal. However, Rothschild stated that Mandelson was not involved in these discussions and had left Russia after the sauna day at Deripaska's estate.
The FT reported that Rothschild had arranged a meeting between Mandelson and an unnamed Russian minister during this visit. The Independent, citing the financier's lawyer, claimed the meeting took place at the same restaurant where Deripaska had discussed the Alcoa sale with the Americans. Both meetings occurred in Moscow, and no mention of Siberian saunas had been made public before the trial.
A Conflict of Interest?
Associated Newspapers' lawyers argued that Mandelson's stay with the Russian oligarch (who had provided the jet that transported Rothschild and Mandelson to Russia) constituted a conflict of interest. At the very least, they maintained, such behavior was inappropriate for a government official as it could cast doubt on their integrity.
Rothschild countered that he had not realized that his social visit to Moscow and Khakassia had to be declared as a gift to a government official. The confusion was compounded by the fact that neither Peter Mandelson nor Oleg Deripaska attended the trial.
Media Sensation
Regardless of the outcome, the Rothschild-Daily Mail libel case has captivated the British public. The nation, which recently witnessed the high-stakes litigation between Boris Berezovsky and Roman Abramovich, has once again been given a glimpse into the exotic world of Russian influence. If "krysha" was voted the English language word of the year in the autumn of 2022, Britons now savor the new word "banya" and animatedly debate the virtues of birch switches and felt hats.
