Support The Moscow Times!

Berezovsky Award Reduced

LONDON — The British Court of Appeal on Wednesday ordered the reduction of a $52.6 million award won by Boris Berezovsky in a case over a 2003 loan.

The court ruled that the amount owed to Berezovsky was miscalculated by a trial judge. The parties should either agree on a new figure or take the matter back to court for review, the ruling said.

Ruslan Fomichev, Vasily Peganov and their trading company Anstead Holdings were sued by Berezovsky over a $50 million loan made in 2003 by North Shore, an offshore entity set up by Berezovsky. The dispute arose after nearly half of the money was frozen by Swiss authorities in an investigation of embezzlement claims against Berezovsky related to Aeroflot.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.