We can all heave a sigh of relief. Russian financier Andrei Vavilov has reached a settlement with the developer of the Plaza Hotel! We were worried the Vavilovs might not receive adequate compensation after they were duped into buying two Plaza penthouses (sight unseen) with lower-than-acceptable ceilings. But justice has been served, according to Vavilov's lawyer, who was "very pleased" with the outcome.

It was rocky there for a while, with the developer, El-Ad, counter-suing for fraud and breach of contract. The "fraud" part had to do with Vavilov's slightly... delayed outrage about the penthouses, per The New York Times.

"Court records say that Mr. Vavilov did not complain about the units until his wife—the Russian actress Maryana Tsaregradskaya [pictured]—saw them.
"On June 26, 2008, the records say, Mr. Vavilov had walked through the apartments with two El-Ad employees and made no complaints about the units. When he took Ms. Tsaregradskaya through the apartments, she said “they were simply not large enough for her tastes.” She told El-Ad employees she wanted to have “the biggest apartment at the Plaza” and asked whether she could purchase another penthouse that was under contract. Through the summer, the couple called several times to see about buying more penthouse units."

As for the terms of this mutually favorable arrangement, neither side will say. But what we can say is that the deal must have been pretty sweet to appease Mr. Vavilov. In 2007, the former deputy finance minister narrowly escaped prosecution over the embezzlement of $230 million in state funds. Maybe, one commenter muses, he settled on buying the entire building.

Plaza and Penthouse Buyer Settle Dispute [NYT City Room Blog]
Russian Senator Accused of Embezzling $230 M [Kommersant]