Berezovsky agrees to near-£40m payout of legal costs

Russian oligarch Boris Berezovsky has agreed to pay £35m of Roman Abramovich’s £40m legal costs today (12 October) following his high-profile litigation defeat to the Chelsea FC owner earlier this year.

Berezovsky, who has been represented by Addleshaw Goddard on the long-running litigation since 2008, has agreed to pay the majority of Abramovich’s costs after losing the $6bn (£3.8bn) court battle.

Skadden Arps Slate Meagher & Flom issued a £40m bill for the work the US firm carried out for Abramovich, including a fee of £8m for former Brick Court silk Jonathan Sumption QC.

Berezovsky also paid out an additional £3.75m to Freshfields Bruckhaus Deringer client Vasily Anisimov, taking the total settlement payouts to £38.75m. Freshfields had billed £5m for its work for the Russian metal magnate.

The news comes after Berezovsky settled his legal action against Anisimov and agreed a settlement with investment company Salford Capital Partners earlier this month. Berezovsky’s case against Anisimov involved a $2bn (£1.2bn) claim for breach of fiduciary duty and breach of trust over the Russian oligarch’s interest in iron ore producer Metalloinvest.

Freshfields litigation partners Ian Terry and Matthew Bruce had been acting for Anisimov, with 3 Verulam Buildings’ Ali Malek QC and Sonia Tolaney QC instructed as counsel. Macfarlanes litigation partner Iain Mackie represented Salford alongside Brick Court Chambers’ Alan Maclean QC.

The Russian oligarch also ended his $3bn (£1.9bn) claim against the Patarkatsishvili family last month.

Signature Litigation founding partner Graham Huntley had been advising the family of now-deceased Georgian billionaire Arkady ‘Badri’ Patarkatsishvili, with Addleshaws litigation partners Mark Hastings and John Kelleher representing Berezovsky.

Hastings and Kelleher have represented Berezovsky throughout both the chancery and commercial proceedings.