After 43 days of hearings at London's High Court and five weeks of jury deliberations, Elton John has lost a $30 million lawsuit he brought against his former accounting firm and manager.

"I have found this case fails on the facts," Judge Andrew Ferris said Tuesday, according to Reuters.

John, the 53-year-old singer of "Candle in the Wind" and countless other rock and pop hits, sued PriceWaterhouseCoopers and former affairs manager Andrew Haydon for alleged negligence in managing his estate, claiming they billed him for touring expenses that should have been paid by the firm. Both defendants denied the allegations.

Legal sources told Reuters that John, who was not in court to hear the verdict, would have to pay legal costs estimated at $12 million.

During the case, which opened last October, the judge heard details of John's extravagant lifestyle, including how the singer spent the equivalent of nearly $60 million in a 20-month period on 293,000 pounds of flowers.

"This is both a just and wonderful result," Haydon's lawyer told

Reuters.

John Reid, Haydon's employer, was initially involved in the case but

settled out of court by paying $5 million to John, his former lover.