Friday 24 November 2017

Rival to pay £35m of Abramovich's legal fees

Dean Gray

Russian businessman Boris Berezovsky will pay £35m (€43m) towards the legal fees of Chelsea Football Club owner Roman Abramovich after failing in a $6bn London court battle with his former protege.

Abramovich, the world's 68th richest man with a $12.1bn fortune, emerged victorious in August from a legal battle after Berezovsky had accused him of using the threat of Kremlin intervention to make him sell prized assets at a knockdown price.

Berezovsky, who was a Moscow powerbroker under President Boris Yeltsin only to fall foul of successor Vladimir Putin, said Abramovich used the threat of retribution to force him into selling too cheaply out of Sibneft, Russia's fourth biggest oil company.

He had claimed $6bn in damages but London's High Court rejected his bid, with presiding judge Elizabeth Gloster calling him an "unimpressive and inherently unreliable witness" who gave sometimes dishonest evidence.

Lawyers told the High Court yesterday that Berezovsky had agreed to pay £35m towards Abramovich's legal costs.

The court was given no detail about the total fees run up by Berezovsky, and the judge was told all outstanding issues had been settled.

Irish Independent

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