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Abramovich being sued for 5 BILLION Dollars!


Alee.

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Abramovich being sued for 5 BILLION Dollars!

In the biggest claim for damages ever proposed in an English court, the Chelsea owner Roman Abramovich is being sued for $5billion by another Russian, Boris Berezovsky. I know that Roman can be a little touchy when it comes to people reporting on his private life, so i think it will be safer if i just give you the article from TheLawyer.com, which i am sure knows what it can print and what it can’t!

The article said: “Brick Court Chambers’ Andrew Popplewell QC went to the High Court last week (2 November) in a bid to strike out a $5bn (£3.05bn) claim against his client, Russian billionaire and Chelsea FC owner Roman Abramovich.

The hearing began before the court’s summer recess and is expected to continue for another week. One partner close to the case said it is “unprecedented” for the Commercial Court, which sits in the High Court, to spend three weeks on a strike out hearing.

Appearing on behalf of Russian businessman Boris Berezovsky, One Essex Court’s Laurence Rabinowitz QC argued that Abramovich used intimidation to force his client to sell shares in Russian oil company Sibneft and TV channel ORT at a discounted price.

Berezovsky was granted political asylum in the UK after fleeing Russia, where he was wanted on charges of fraud and political corruption, in 2001. Attempts to extradite him have been rejected by the UK courts. The Russian oligarch is seeking between $3bn and $5bn in damages for breach of contract, breach of trust and breach of fiduciary claims. It is thought to be one of the largest claims ever to be heard in the Commercial Court.

Popplewell argued that the claim should be thrown out because it has little chance of succeeding. Rabinowitz has been instructed by Addleshaw Goddard partner Mark Hastings, while Skadden Arps Slate Meagher & Flom partner Paul Mitchard QC instructed Popplewell for Abramovich.”

So there you have it. It looks like it could be an interesting couple of weeks up at the High Court!

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Just adding it in.. Have u guys seen the interview of Berzovsky in BBC somewhere around 2000 or 2001. That was a one on one in which he said all about how he lost Sibneft and the Russian national TV company to Abramovich. It was very revealing and kinda sad. Abramovich was his understudy back then or something like that and tricked him into selling the shares of Sibneft to various allies of his.

Though, later when I came to know its Abramovich who bought Chelsea, all was forgotten :D Roman has close political ties and I can't see him losing this one. But its one thing suing him in Russia and totally different when he is sued in England where his political connections are limited. Hoping for the best though ;)

After all Putin should be able to do something :P

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