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Full Article Images of December Best photos of the year Follow Reuters Facebook Twitter RSS YouTube Read Insight: Recovery at risk as Americans raid savings 8:50am EST Italian coastguard heard pleading with liner captain | 3:42pm EST Romney unscathed from debate attacks 9:10am EST UPDATE 4-Coastguard raged at liner captain, tape shows 1:34pm EST U.S. online piracy bill headed for major makeover 16 Jan 2012 Discussed 139 Buffett to GOP: You pay and so will I 123 Romney opens 21-point lead in South Carolina: Reuters/Ipsos poll 78 Ohio woman loses appeal on ”White Only” pool sign Watched Amateur video shows cruise ship evacuation Mon, Jan 16 2012 Korean couple found alive in capsized ship Sun, Jan 15 2012 Rescuers blow hole in cruise liner 8:00am EST Russian billionaire battle reaches London court climax Tweet Share this Email Print Related News Billionaire Kremlin hopeful says Putin must change 10:23am EST Profile: Russian tycoon Mikhail Prokhorov turns to politics 9:49am EST Putin ejects Kremlin "puppet master" after protests Tue, Dec 27 2011 Putin says Russian protesters seeking to sow chaos Tue, Dec 27 2011 Tens of thousands of protesters pressure Putin Sun, Dec 25 2011 Analysis & Opinion Russian Orthodox Patriarch Kirill urges Kremlin to heed protesters Greek Orthodox abbot goes to jail before trial over land scandal Related Topics World » Russia » 1 of 2. Russian oligarch Boris Berezovsky arrives at a division of the High Court in London January 17, 2012. Credit: Reuters/Stefan Wermuth By Olesya Dmitracova LONDON | Tue Jan 17, 2012 1:24pm EST LONDON (Reuters) - A gargantuan lawsuit between two of post-Soviet Russia's richest and most powerful men reached its climax in a London courtroom Tuesday, with lawyers for tycoon Boris Berezovsky making their case that he was extorted into turning the crown jewel of his business empire over to billionaire rival Roman Abramovich. The $6 billion case has thrown a spotlight on the shady business dealings of post-Soviet Russia, when opaque privatization deals turned a handful of insiders into the owners of multi-billion dollar natural resources firms. It has also captivated the legal industry in Britain, whose globally respected, tradition-bound courts - where lawyers still wear powdered wigs - have become the venue of choice for rich Russians to sue each other, generating massive fees. Berezovsky, 65, accuses Abramovich - known in Britain as the owner of Chelsea soccer club - of intimidating him into selling his stake in oil firm Sibneft at a knockdown price. Abramovich, 45, denies Berezovsky ever had an interest in Sibneft. Speaking in a courtroom packed with bodyguards and ranks of lawyers and aides Tuesday, Berezovsky's lawyer devoted a large part of his closing statement to examining what he said was untruthful evidence by Abramovich and his witnesses. "The dishonesty of Mr Abramovich and his key witnesses, their cynical manipulation of evidence and indeed of the trial process, is...perhaps the most important of the general points which my Lady will wish to have in mind when weighing up the evidence and making findings of fact in this case," Laurence Rabinowitz told judge Elizabeth Gloster. A Kremlin insider in the 1990s under former President Boris Yeltsin, Berezovsky left Russia after falling out with Yeltsin's hand-picked successor Vladimir Putin. He says he gave up his Sibneft stake because he feared that if he refused, Abramovich would ensure Putin had the shares expropriated. Abramovich says he paid Berezovsky $2 billion for his political patronage and protection from criminal gangs, but not as dividends from Sibneft because Berezovsky was never an owner. Abramovich has since sold Sibneft to the Russian state natural gas monopoly Gazprom. CLUES INTO PUTIN'S RUSSIA The trial has been tabloid fodder in Britain ever since a tussle between the two tycoons and their retinues of bodyguards in a Hermes luxury boutique in London, when Berezovsky spotted Abramovich and served him with a writ. During Tuesday's hearing, Berezovsky appeared relaxed, often laughing and conferring with his younger girlfriend. Abramovich, sitting at the opposite end of the courtroom, listened intently to the Russian translation of the proceedings in headphones. The trial, which started in early October, is being followed closely by Russia watchers from London and Moscow for new clues into Russian business and politics under Putin, now prime minister but expected to become president again this year. Abramovich and Berezovsky were close allies when making their fortunes in Russia in the 1990s under Yeltsin. Since then, Berezovsky has become a sworn enemy of Putin, fending off requests to extradite him from London on Russian criminal charges by arguing that he could not get a fair trial in Russia. Abramovich became a Putin ally and prospered. Britain is home to a string of high-profile Kremlin critics, one of whom, Alexander Litvinenko, was murdered in London in 2006. Moscow's refusal to extradite the man London suspects in his killing remains the largest single source of strain in Russian-British relations. World Russia Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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