{"id":170538,"date":"2022-01-03T06:20:58","date_gmt":"2022-01-03T06:20:58","guid":{"rendered":"https:\/\/dominiclevent.com\/blog\/?p=170538"},"modified":"2022-01-03T23:07:07","modified_gmt":"2022-01-03T23:07:07","slug":"russian-billionaire-settles-with-ex-wife-five-years-after-450m-payout-ruling","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/russian-billionaire-settles-with-ex-wife-five-years-after-450m-payout-ruling\/","title":{"rendered":"Russian billionaire settles with ex-wife five years after \u00a3450m payout ruling"},"content":{"rendered":"


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After almost five years of fighting a high court ruling that awarded the UK\u2019s largest ever divorce payout, a Russian billionaire has reached a settlement with his ex-wife.<\/p>\n

Farkhad Akhmedov and Tatiana Akhmedova have been embroiled in the most expensive family feud in history<\/a> since a London high court judge awarded Akhmedova a \u00a3450m divorce payout in <\/a>2017.<\/p>\n

Akhmedov, who\u2019s name appeared on the US\u2019s \u201cPutin list\u201d in 2018 of officials and oligarchs close to the Kremlin, did not pay the 41.5% share of the couple\u2019s \u00a31bn-plus marital assets, calling the ruling \u201cwrong and misguided\u201d. Akhmedova took legal action in Britain and a number of jurisdictions to trace and seize assets.<\/p>\n

A spokesperson for Azerbaijani-born Akhmedov said on Friday that a settlement had been reached and she had \u201caccepted a cash and art settlement\u201d.<\/p>\n

In the original trial the woman had originally sought \u00a3350m, but because the two parties had not agreed a settlement she claimed a further \u00a393m comprising chattels at their English home valued at \u00a32.5m, <\/em>an Aston Martin car in Surrey valued at \u00a3350,000, and the modern art collection valued at $112m.<\/p>\n

The family fortune includes a modern art collection with pieces by Mark Rothko, Andy Warhol and Damien Hirst that are held in a Liechtenstein facility called the Stabiq Treasure House.<\/p>\n

Akhmedova also attempted to seize Akhmedov\u2019s \u00a3300m superyacht<\/a>, Luna, which was built for the Chelsea football club owner, Roman Abramovich and has 10 VIP cabins and a 20-metre swimming pool.<\/p>\n

In April another high court judge found that Akhmedova had been a victim of a \u201cseries of schemes\u201d<\/a> designed to put \u201cevery penny\u201d beyond her reach.<\/p>\n

The couple\u2019s son, Temur Akhmedov, was found to have colluded with his father to hide hundreds of millions of pounds of assets \u2013 including several mansions, a superyacht, a helicopter and an extensive art collection.<\/p>\n

He was ordered to pay \u00a375m to his mother after the judge, Gwynneth Knowles, found he was \u201ca dishonest individual who will do anything to assist his father\u201d.<\/p>\n

\u201cTemur has learned well from his father\u2019s past conduct and has done and said all he could to prevent his mother receiving a penny of the matrimonial assets,\u201d said the judge in a ruling.<\/p>\n

She called the Akhmedov family \u201cone of the unhappiest ever to have appeared in my courtroom\u201d.<\/p>\n

After the ruling in April, a spokesperson for Temur Akhmedov<\/a> said he had \u201cnever sought to take sides or get involved but inevitably found himself sucked into the vortex of a bitter family dispute\u201d.<\/p>\n

The settlement appears to be the end of the long-running saga which saw Akhmedov involve the international police agency Interpol <\/a>in his attempts to stop her from seizing his assets. This triggered claims that Akhmedov\u2019s lawyers were abusing the legal process, claims that were strongly rejected.<\/p>\n

Lawyers acting for Akhmedov, who has indefinite leave to remain in the UK, argued that he had made a \u201cstellar\u201d contribution to his wealth creation, so should not have to give his wife, a British citizen since 2000, almost half of his fortune.<\/p>\n

Akhmedov claimed an earlier divorce between the couple \u2013 in Moscow 19 years ago \u2013 superseded the UK judgment, and said his wife\u2019s attempts to seize his assets were a fraudulent act.<\/p>\n

But, handing down his judgment in 2016, Justice Haddon-Cave said he had found no evidence of the earlier divorce. \u201cThe inference to be drawn \u2026 is that the 2000 Moscow divorce documents \u2026 were, at all material times, forged,\u201d said Haddon-Cave.<\/p>\n

Akhmedova did not comment on the settlement but Burford Capital, a specialist litigation funder which provided her with financial backing, said it had \u201cnow received its full cash entitlement\u201d in respect of the \u201cAkhmedov matter\u201d.<\/p>\n

Following the April ruling she said her husband\u2019s failure to pay her the original divorce settlement had \u201cleft a trail of destruction and pain in his wake\u201d.<\/p>\n<\/div>\n


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