Friday, August 31, 2012

Russian Oligarch Roman Abromovich Prevails in London Lawsuit

Roman Abramovich has won his London legal battle against exiled Russian oligarch Boris Berezovsky.  Claiming $4.7 B in damages, Berezovsky alleged that Abramovich had intimidated him into selling his shares in Russian oil giant Sibneft, and had also broken a promise over a deal involving Russian aluminum company RusAl.  A London Commercial Court judge dismissed Berezovsky's claims in their entirety, saying in her ruling that: "On my analysis of the entirety of the evidence, I found Mr Berezovsky an unimpressive, and inherently unreliable, witness, who regarded truth as a transitory, flexible concept, which could be moulded to suit his current purposes."  In reaching her decision, the judge employed new technology, called MagnumCloud, which gave her, along with the trial lawyers, secure access to documents from computers in the courtroom.  Berezovsky now faces a large bill for attorney's fees, expected to be near $150 M, and said that although he did not regret bringing the case against Mr Abramovich, he did not yet know if he would appeal.

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