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Court battle over huge emerald nears resolution

2 years 5 days 10 hours ago October 15, 2014 Oct 15, 2014 Wednesday, October 15 2014 October 15, 2014 4:33 PM in News
Source: Associated Press
By: Linda Deutsch

LOS ANGELES - The convoluted court battle over ownership of an 840-pound emerald appears to be nearing resolution.

A judge eliminated from consideration Mark Downie, one of the men claiming ownership of the emerald that has been appraised at $372 million. It is considered one of the largest in the world.

One more trial awaits for another group of would-be owners. The government of Brazil, where the rock was found, has also lodged a claim.

The case of the giant emerald first landed in Los Angeles Superior court in 2008 and has been stuck in litigation since then. Lawyers say the well-traveled stone made stops in California, New Orleans, and Las Vegas before it was trucked to Los Angeles for safe-keeping by sheriff's deputies.

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