Russian businessman Boris Berezovsky lost his battle with tycoon Roman Abramovich this morning.
Berezovsky was seeking more than £3bn in damages after accusing the Chelsea Football Club owner of blackmail, breach of trust and breach of contract.
A High Court judge ruled in Abramovich’s favour this morning following a three-month trial.
The case related to deals done 20 years ago in Russia.
Berezovsky said Abramovich used the threat of Kremlin retribution to intimidate him into selling out of Russia's fourth biggest oil company, Sibneft, at a knockdown price.
Abramovich, the world's 68th richest man, with a $12.1bn (£7.63bn) fortune, denies Berezovsky had an interest in the firm and says he merely paid Berezovsky for political cover and protection.