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Wednesday, January 18, 2012

Jewish Billionaire Roman Abramovich wears a $140 watch as he arrives at court for $5bn trial

Roman Abramovich can be seen wearing a £93 Polar M61 watch designed for runners as he arrives at the High Court in London yesterday

The Finnish-made watch which Mr Abramovich was wearing as he arrived for the £3.5billion case is designed for runners

With a multi-billion pound fortune, Roman Abramovich could afford even the most expensive Rolex.

But he arrived up at court yesterday for his £3.5bn battle with fellow Russian oligarch Boris Berezovsky wearing a £93 digital watch.

The Chelsea Football Club owner had a discontinued Polar M61 on his left wrist which monitors heart rate.

The Finnish-made budget timepiece is designed to work with a chest strap while the wearer is doing exercise.

Mr Abramovich, 45, is engaged in a High Court battle with his former business partner.

The Chelsea owner faces claims he 'betrayed' and 'intimidated' Mr Berezovsky into selling shares in Russian oil company Sibneft for a 'mere $1.3 billion' (£800 million) - 'a fraction of their true worth'.

Mr Berezovsky's lawyer yesterday claimed Mr Abramovich had shown an 'apparent willingness and ability to manufacture evidence to suit his case' during his evidence.

Mr Berezovsky alleges breach of trust and breach of contract, and is claiming more than £3 billion in damages.

Mr Abramovich denies the allegations.

The pair were both in court yesterday to hear Mr Berezovsky's lawyer Lawrence Rabinowitz QC outline his closing submissions to the judge.

The evidence strongly suggests that Mr Abramovich colluded with his major witnesses - all of them his close friends or long-standing employees - to put forward a case directed solely at defeating Mr Berezovsky's claim, without regard to the truth,' Mr Rabinowitz told the judge in a closing submission.

It was a highly controlled performance by Mr Abramovich, who was meticulously prepared for the evidence he would give, and who had worked closely with his witnesses to put forward a story which he calculated would be accepted by the Court.

'It was also, however, a highly cynical and deceitful manipulation of the trial process.

Mr Rabinowitz said Mr Abramovich's witnesses had 'descended into smears and innuendo' in an attempt to 'discredit' Mr Berezovsky.

He said they had accused Mr Berezovsky of having 'connections to organised crime in Chechnya'; 'concocted' a story about Mr Berezovsky 'appearing at a meeting in a dressing gown, with the plain intention of portraying a man who was a 'godfather' rather than a businessman'; and 'fabricated' a story about a text message signed 'Dr Evil' which was 'supposedly' sent by Mr Berezovsky in an attempt to intimidate a potential witness.

Mr Rabinowitz said Mr Abramovich's 'approach to trial documents' also 'discredits him'. He said documents were either not disclosed or disclosed very late.

Mr Rabinowitz also said Mr Abramovich had passed of 'reconstruction as recollection' and made 'false statements about his educational background'.

Jonathan Sumption QC, who this month became a Justice of the Supreme Court and took the title Lord Sumption, delivered his closing submissions on behalf of Mr Abramovich in December.

Mr Rabinowitz to expected to complete his submissions today and the hearing is expected to end later this week.

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