Friday, August 31, 2012

Feuding Russian tycoons face London court ruling

AAA??Aug. 31, 2012?2:40 AM ET
Feuding Russian tycoons face London court ruling
AP

FILE This Tuesday, Oct. 4, 2011 file photo shows the owner of England's Chelsea Football Club, Russian tycoon Roman Abramovich as he leaves court in London. Russian businessmen Roman Abramovich and Boris Berezovsky. rose to riches together in the chaotic years of post-Soviet Russia and then became archenemies and a British judge will soon rule on which oligarch will defeat the other in a multi-billion-dollar court battle. After a seven-month delay, Judge Elizabeth Gloster is expect to deliver a summary ruling Friday Aug. 31, 2012 to settle the legal feud between Roman Abramovich, the billionaire Chelsea Football Club owner, and self-exiled tycoon Boris Berezovsky. (AP Photo/Lefteris Pitarakis, File)

FILE This Tuesday, Oct. 4, 2011 file photo shows the owner of England's Chelsea Football Club, Russian tycoon Roman Abramovich as he leaves court in London. Russian businessmen Roman Abramovich and Boris Berezovsky. rose to riches together in the chaotic years of post-Soviet Russia and then became archenemies and a British judge will soon rule on which oligarch will defeat the other in a multi-billion-dollar court battle. After a seven-month delay, Judge Elizabeth Gloster is expect to deliver a summary ruling Friday Aug. 31, 2012 to settle the legal feud between Roman Abramovich, the billionaire Chelsea Football Club owner, and self-exiled tycoon Boris Berezovsky. (AP Photo/Lefteris Pitarakis, File)

FILE- In this Jan. 26, 2000 file photo Russian tycoons Boris Berezovsky, left, and Roman Abramovich, then both lawmakers, walk after the session of the State Duma, parliament's lower house, in Moscow, Russia. The two Russian businessmen rose to riches together in the chaotic years of post-Soviet Russia and then became archenemies, and a British judge will soon rule on which oligarch will defeat the other in a multibillion-dollar court battle. (AP Photo/Ivan Sekretarev, File)

FILE - This is a Monday, Oct. 31, 2011 file photo of Russian tycoon Boris Berezovsky as he arrives at the high court in London. Russian businessmen Boris Berezovsky and Roman Abramovich, rose to riches together in the chaotic years of post-Soviet Russia and then became archenemies and a British judge will soon rule on which oligarch will defeat the other in a multi-billion-dollar court battle. After a seven-month delay, Judge Elizabeth Gloster is expect to deliver a summary ruling Friday Aug. 31, 2012 to settle the legal feud between Roman Abramovich, the billionaire Chelsea Football Club owner, and self-exiled tycoon Boris Berezovsky. (AP Photo/Sang Tan, File)

FILE- In this Tuesday, Jan. 18, 2000 file photo Russian tycoons Boris Berezovsky, left, and Roman Abramovich, then both lawmakers, walk in a hall during a break in a session of the State Duma, Russian parliament's lower house, in Moscow. Two Russian businessmen rose to riches together in the chaotic years of post-Soviet Russia and then became archenemies, and a British judge will soon rule on which oligarch will defeat the other in a multibillion-dollar court battle. (AP Photo/FILE)

LONDON (AP) ? A judge is due to rule on a multibillion-dollar legal battle waged between two Russian tycoons in a London courtroom.

Judge Elizabeth Gloster is expected to deliver a summary ruling Friday to settle the feud between 45-year-old Roman Abramovich, the billionaire Chelsea Football Club owner, and the 66-year-old self-exiled tycoon Boris Berezovsky.

Berezovsky, a former Kremlin power broker, alleges that Abramovich, who he called his protege, betrayed and intimidated him into selling his stakes in the Russian oil company Sibneft vastly beneath their value.

Berezovsky alleged blackmail and breach of contract, and is seeking more than 3 billion pounds ($4.8 billion) in damages. Abramovich denies the allegations.

Gloster has reserved judgment since the trial, the most high-profile commercial case at London's High Court in recent years, ended in January.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-08-31-Britain-Billionaires'%20Battle/id-928ab4c95e9a4a50b54f3247e5f30b24

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