Berezovsky denies cutting yacht broker out of €24 million commission

Edmiston claims it is entitled to a 10 per cent commission after negotiating the sale of the yacht to Abdulla al-Futtaim, a Dubai-based businessman. Other potential buyers it claims it had lined up included Google co-founder Sergei Brin and the King of Saudi Arabia.

Berezovksy is seeking a court declaration that Edmiston is not entitled to a commission. He claims that the firm played only a minor role in the deal, telling the court yesterday that Mr Al-Futtain had been introduced by the owner of the shipyard that built the Darius — not Edmiston. “This is absolutely my impression,” he said.

Berezovsky, who had dealt with Edmiston on numerous previous yacht deals, said he had instructed the broker to find a buyer but that he had never granted it exclusive rights to any deal.

Berezovsky told the court that he had decided to sell the Darius — described as being among the most lavish yachts ever constructed — before it was finished in part because of cashflow problems resulting from the death of his friend and business partner Badri Patarkatsishvili.

Patarkatsishvili, a Georgian billionaire who died suddenly at his home in Surrey in 2008, was responsible for managing their assets and held them all in his own name, Berezovsky said. This led to problems accessing his holdings after his partner’s death. “It’s created amazing difficulties for me,” Berezovsky told the court.

Berezovsky is involved in a separate case in which he is seeking to recover part of Patarkatsishvili’s substantial estate.

Berezovsky, dressed in a grey suit with an open-necked blue shirt, gave evidence in heavily-accented English. He frequently struggled to recall specific details in response to questions by Stephen Hofmeyr, QC, Edmiston’s barrister. At other times, though, he became animated and gesticulated broadly.

At one point, the judge intervened. “I understand you have strong feelings about this case,” Mr Justice Field said. “But what you are being asked about are matters of fact that the parties are entitled to explore . . . Try to keep your feelings and your sense of indignation under control.”

A mathematician by training, Berezovsky was once regarded as Russia’s most powerful oligarch but moved to Britain in 2000 after falling out with Vladimir Putin.

His lawsuit against Edmiston is one of several high-profile cases he is fighting in London. The biggest is a £2 billion claim against Roman Abramovich, the billionaire Chelsea FC owner, relating to a dispute over holdings in several of Russia’s largest companies. A trial is expected next year.

The Edmiston case continues.

More info: Times Online