A British judge Friday handed Russia's Boris Berezovsky, a fierce Kremlin critic and one of the world's wealthiest men, a devastating loss in his $6.5 billion lawsuit against fellow Russian billionaire Roman Abramovich, his one-time protegeand the owner of England's Chelsea soccer club.
The four-month trial ended with High Court Justice Elizabeth Gloster dismissing the lawsuit by Berezovsky, who fled Russia 11 years ago. Gloster called him "an unimpressive, and inherently unreliable, witness, who regarded truth as a transitory, flexible concept, which could be molded to suit his current purposes."
Berezovsky accused Abramovich of intimidating him into selling a stake in oil giant Sibneft 10 years ago for $1.3 billion, which Berezovsky was only a small part of its real value.
Legal costs, which under British law must be paid by the loser, are estimated at nearly $160 million.
Mike Obel assigns, edits and writes stories about business, markets, finance and economics. Before coming to International Business Times, he worked on the Finance Desk of...