Estate of Russian oligarch Boris Berezovsky is 'hopelessly insolvent' says judge
HE was once worth £2 billion and one of the most powerful men in the world.
Boris Berezovsky was once one of the most powerful men in the world with £2billion fortune
But Russian oligarch Boris Berezovsky died a bankrupt and now his estate is “hopelessly insolvent”, a judge said today.
His huge fortune, built on importing cars, media ownership, banking and the oil industry, had been almost wiped out when he died three years ago, a court heard.
All that remains is £34 million against told debts of around £300 million, the court heard.
Trustees for the fallen tycoon’s estate are facing a claim from his former partner Elena Gorbunova.
Ms Gorbunova, 48, the mother of his two youngest children, insists she has not been given the millions he promised her.
The twice married tycoon lived with her from 1991 until a few months before he died.
The tycoon's estate has been described as 'hopelessly insolvent' by a judge
Mr Justice Arnold said today: “About £34 million remains, subject to the payment of bankruptcy and administration expenses, including legal costs, out of this sum.
This sum is currently the estate’s only substantial asset.
“This sum is currently the estate’s only substantial asset.
“Since the estate has substantial creditors running into hundreds of millions of pounds, it is hopelessly insolvent.”
Berezovsky, 67, the target of at least two assassination attempts, was found dead at his home in Ascot, Berkshire, in March 2013.
A coroner recorded an open verdict.
Berezovsky was found dead at his home in Ascot, Berkshire, in March 2013
Berezovsky amassed vast wealth after the fall of the Soviet Union and became one of President Boris Yeltsin’s most trusted aides.
He fell foul of the Putin regime and fled to Britain in 2000 just as fraud and corruption charges were being drawn up against him.
In 2012, he lost one of the biggest private lawsuits in history after suing Chelsea FC’s owner Roman Abramovich for £3 billion.
In 2012, he lost one of the biggest private lawsuits in history suing Chelsea boss Roman Abramovich
A judge dismissed him as “an unimpressive and inherently unreliable witness” and ordered him to pay his rival’s legal costs - £35 million.
Yesterday, Mr Justice Arnold revealed Berezovsky’s trustees have resolved outstanding claims from Mr Abramovich.
Berezovsky was close to murdered former KGB spy Alexander Litvinenko who fled Russia after exposing corruption in 2000.