"Significantly there were no contemporaneous notes, memoranda or other documents recording the making of these alleged agreements or referring to their terms," the judge said.
The burden fell on Berezovsky to convince the court that the agreements had been made, "not for Mr. Abramovich to convince the court otherwise," the judge said.
Gloster was scathing about Berezovsky's credibility.
"At times the evidence which he gave was deliberately dishonest; sometimes he was clearly making his evidence up as he went along in response to the perceived difficulty in answering the questions in a manner consistent with his case; at other times, I gained the impression that he was not necessarily being deliberately dishonest, but had deluded himself into believing his own version of events," she said.
The case may have fascinated the British media, but many in Russia appeared cynical.
"The super-rich are not popular in Russia. An overwhelming majority of Russians see their wealth as ill-gotten gains, see them as people who enriched themselves at people's expense," said Masha Lipman, an analyst at the Carnegie Moscow Center.
Berezovsky, who has lived in Britain since he fled Russia in 2001, said he hadn't decided whether to appeal. He declined to comment on the financial implications of losing the case.
"Life is life," he said. "Now I know what means English court better than before."
Associated Press writer Jim Heintz contributed to this report from Moscow.
Judge's judgment, http://is.gd/9fet6Y