WORLD NEWS

Russian billionaires’ huge legal battle closes

Jan 19, 2012, 7:04 PM

LONDON (AP) – A legal battle between two feuding Russian billionaires has ended in a London court.

Judge Elizabeth Gloster reserved judgment Thursday on the case between exiled oligarch Boris Berezovsky and fellow Russian Roman Abramovich, the Chelsea Football Club owner.

The date for the verdict has not been set.

Berezovsky sued Abramovich for several billion dollars, saying the soccer club owner had intimidated him into selling shares in their jointly-owned Russian oil giant Sibneft at a fraction of their value. He alleged breach of contract and claimed more than 3 billion pounds (US$4.6 billion) in damages.

Abramovich denied that, saying Berezovsky never owned the stakes.

The trial, which began in October, is one of the most expensive legal fights London has seen.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Russian billionaires’ huge legal battle closes