New York businessmen Ron Perelman and Donald Drapkin worked together on some big deals over their 20-year relationship. Perelman owns MacAndrews & Forbes, a holding company for his wide-ranging investments; Drapkin worked for the company for years. In 2007, the friends parted ways after Drapkin moved on -- and after the two became embroiled in a contract dispute.

Drapkin fired the first shot in 2009 when he sued for unpaid compensation. Perelman filed a counterclaim, accusing Drapkin of breaching his contract. The trial ended Friday. The jury awarded Drapkin his $16 million in back pay.

Perelman claimed his friend took company documents with him when he left. Drapkin allegedly stored the documents on his personal assistant's laptop. Perelman also claimed Drapkin had attempted to hire away a key MacAndrews & Forbes employee.

The six-person jury disagreed. After four days of testimony, the panel deliberated for 80 minutes.

Although Perelman did not testify, another member of the board of MacAndrews & Forbes did take the stand. He issued a statement after the verdict came, expressing the company's disappointment in the outcome and its firm belief that Drapkin had substantially breached his contract. He indicated, too, that the company may appeal.

During the height of their business relationship, the two collaborated on some high-end deals. Their names were linked with companies like Revlon and Marvel comics as well as various banks and television stations.

Currently married for the fifth time, Perelman's reputation goes well beyond the board room. His personal life is often fodder for tabloids, in part because of his famous wives, including actress Ellen Barkin and millionaire political activist Patricia Duff.

Perelman has an estimated net worth of $12 billion. The $16 million award represents 0.1 percent of his fortune.

Source: ThomsonReuters News & Insight, "Financier Perelman loses civil trial contract spat," Grant McCool, Jan. 27, 2011