The disgraced oligarch and the family of his former comrade-in-arms have entered into a settlement agreement; now they are ready to act as a united front against Vasily Anisimov

Two Forbes sources familiar with the situation surrounding the trial of Boris Berezovsky's claim against the heirs of his former associate Badri Patarkatsishvili reported that the parties signed a settlement agreement last weekend. According to them, the court will be informed about the settlement in early October.

After a devastating defeat in the battle with Roman Abramovich, Berezovsky, apparently, decided to moderate his appetites and change tactics. In October-November, the High Court of London was supposed to begin considering three more claims of the former oligarch: against the Patarkatsishvili family (about the division of the inheritance), against Vasily Anisimov (about recognition of participation in the Metalloinvest company) and against the management company Salford (about recognition of participation in assets under management of the company).

Patarkatsishvili's widow Inna Gudavadze almost immediately after her husband's death (February 12, 2008) signed an agreement with Berezovsky, according to which she recognized his 50% participation in the inheritance. She subsequently refused this agreement, which forced Berezovsky to go to court.

After losing to Abramovich, Berezovsky's chances of winning the remaining trials were greatly reduced, and there was practically no money left to conduct them. In this situation, he decided to make peace with Badri’s heirs, so that later he could act as a united front in court against Vasily Anisimov. $600 million has been frozen in connection with this lawsuit. This money, if won, can be divided between Berezovsky and his family.

“Berezovsky understands that his testimony, recognized as false, will no longer work in court, and he decided to put it in the mouth of the “unhappy widow” Inna. And Inna, who is also in a deplorable financial situation, is clinging to straws,” one of Forbes’ sources commented on Berezovsky’s decision.

Anisimov's lawyers, Berezovsky and Patarkatsishvili's heirs declined to comment.

According to another Forbes source familiar with the terms of the settlement agreement, the parties agreed that the family would give Berezovsky shares in some assets for which they were suing or would be suing, as in the case of Anisimov. Berezovsky's share in the seized assets could range from 30% to 50%.

For example, Berezovsky and the Patarkatsishvili family will divide the assets of the DVP fund managed by Salford. The fund owns food industry enterprises in Russia, Georgia, Ukraine and the Balkans. The main companies are IDS Borjomi (produces Borjomi, Holy Source, Mirgorodskaya and other mineral waters) and the largest dairy producer in the Balkans, Imlek.

The fund is now shutting down and its assets are being sold off. The share of Berezovsky with his family and other investors associated with them after the sale will be about $500 million. If the money is not received by a certain point, the family, according to a Forbes source, will pay Berezovsky from $150 to $250 million.

In addition, the parties divided the cash frozen by Berezovsky in the family’s bank accounts (about $70 million). Berezovsky now has an additional $35 million, which will be used for settlements with Abramovich. According to Forbes, Abramovich plans to demand compensation from Berezovsky for legal costs in the amount of 40 million pounds.

It is curious that just yesterday (September 12), the Prosecutor General’s Office announced the preparation of international requests for the seizure abroad of the property of not only Boris Berezovsky, but also Patarkatsishvili’s relatives. “Apparently, having learned about this deal, the Prosecutor General’s Office reminded the whole world that they do not see the difference between the heirs of Badri and Berezovsky, that they consider Berezovsky and Badri as one community and will go after their assets all over the world,” says Forbes’ source.

Read further: What remains of the business empire of Berezovsky and Patarkatsishvili: main assets

Berezovsky found money for Abramovich: Patarkatsishvili’s relatives will help