Sunday, April 20, 2014


Russia

Berezovsky To Pay $56 Mln In Abramovich Fees

Self-exiled Russian oligarch and Kremlin foe Boris Berezovsky (file photo)
Self-exiled Russian oligarch and Kremlin foe Boris Berezovsky (file photo)
TEXT SIZE - +
Boris Berezovsky has agreed to pay 35 million pounds ($56 million) toward the legal fees of fellow Russian billionaire Roman Abramovich after losing a $6 billion court battle.

Lawyers made the announcement on October 12 in London, where a court in August rejected Berezovsky's accusations that his former protege used the threat of Kremlin intervention to make him sell prized assets at a knockdown price.

Berezovsky had claimed $6 billion in damages, largely over the sale of Sibneft, Russia's fourth biggest oil company.

The case was described as one of the most costly private legal actions ever.

Abramovich, the owner of the Chelsea Football Club, is thought to be the world's 68th-richest person with a $12 billion fortune.

Based on reporting by Reuters and dpa

Most Popular