Wednesday 11 December 2019

Estate of late Russian oligarch Boris Berezovsky 'most probably insolvent'

The estate of the late Russian oligarch Boris Berezovsky is "most probably insolvent" and will be administered as if it is insolvent, a High Court judge has been told.

Mr Justice Morgan was given detail today as he approved a plan for the estate's administration at a High Court hearing in London.

He said accountants Grant Thornton would handle most of the administration.

The judge said a plan had been agreed between parties including Grant Thornton, a member of Mr Berezovsky's family and a company which had been embroiled in litigation with him.

A lawyer representing the company which had been involved in litigation with Mr Berezovsky told the judge that the estate was "most probably insolvent".

Lawyers for Grant Thornton said it was proposed to administer the estate as if it was insolvent.

And they said steps would be taken to ensure that beneficiaries were not put "in advance" of creditors.

Mr Justice Morgan had been told at a hearing in September 2013 that Mr Berezovsky may have left debts of more than £300 million.

At that hearing, Mr Berezovsky's daughter, Ekaterina Berezovskaya, had said there was a ''reasonable probability'' that the estate was solvent.

Mr Berezovsky, 67, was found dead at his home in Ascot, Berkshire, in March 2013.

Last month, a coroner recorded an open verdict after an inquest.

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