Russian billionaire settles in with ex-wife five years after £ 450million payment decision | UK News
After nearly five years of fighting a High Court ruling that granted the biggest divorce payment on record in the UK, a Russian billionaire has reached a deal with his ex-wife.
Farkhad Akhmedov and Tatiana Akhmedova have been involved in the most expensive family feud in history since a London High Court judge awarded Akhmedova £ 450million divorce compensation in 2017.
Akhmedov, whose name was on the 2018 US “Putin list” of officials and oligarchs close to the Kremlin, failed to pay the couple’s 41.5 percent share of the couple’s more than $ 1 billion marital assets. pounds sterling, calling the decision “bad and wrong”. Akhmedova has taken legal action in Britain and a number of jurisdictions to locate and seize assets.
A spokeswoman for Akhmedov, of Azerbaijani origin, said on Friday that a settlement had been reached and that she had “accepted a settlement in cash and in art.”
In the original lawsuit, the woman initially asked for £ 350million, but because the two sides failed to agree to a settlement, she claimed an additional £ 93million including movable property at their appraised English home. at £ 2.5 million, an Aston Martin car in Surrey worth £ 350,000 and the Modern Art Collection worth $ 112 million.
The family fortune includes a collection of modern art with pieces by Mark Rothko, Andy Warhol and Damien Hirst which are kept in a facility in Liechtenstein called the Stabiq Treasure House.
Akhmedova also tried to seize Akhmedov’s £ 300million superyacht, Luna, which was built for Chelsea Football Club owner Roman Abramovich and has 10 VIP cabins and a 20-meter swimming pool.
In April, another High Court judge concluded that Akhmedova had been the victim of a “series of ploys” designed to put “every penny” out of her reach.
It was discovered that the couple’s son, Temur Akhmedov, had colluded with his father to hide hundreds of millions of pounds in assets, including several mansions, a superyacht, a helicopter and a vast art collection.
He was ordered to pay his mother £ 75million after Judge Gwynneth Knowles found him to be “a dishonest individual who would do anything to help his father”.
“Temur has learned well from his father’s past conduct and has done and said all he can to prevent his mother from receiving a dime of marital property,” the judge said in a ruling.
She called the Akhmedov family “one of the most unfortunate ones to ever appear in my courtroom.”
After the April decision, a spokesperson for Temur Akhmedov said he “never sought to take sides or get involved but inevitably found himself drawn into the vortex of bitter family conflict” .
The settlement appears to be the end of a long saga that has seen Akhmedov implicate the international police agency Interpol in his attempts to prevent him from seizing his assets. This sparked claims that Akhmedov’s lawyers were abusing the legal process, claims that were strongly rejected.
Lawyers acting for Akhmedov, who has indefinite leave to stay in the UK, argued that he had made a “stellar” contribution to his wealth creation, and therefore should not have to give his woman, British citizen since 2000, nearly half of her fortune. .
Akhmedov claimed that an earlier divorce between the couple – in Moscow 19 years ago – replaced the British judgment and said his wife’s attempts to seize his property were a fraudulent act.
But, rendering his judgment in 2016, Judge Haddon-Cave said he had found no evidence of the prior divorce. “The inference to be drawn… is that the 2,000 Moscow divorce papers… have been, at all relevant times, falsified,” Haddon-Cave said.
Akhmedova has not commented on the settlement, but Burford Capital, a litigation financier who has provided financial backing for her, said he had “now received all of his rights in cash” as part of ” the Akhmedov case “.
Following the April ruling, she said her husband’s failure to pay her the initial divorce settlement had “left a trail of destruction and pain in its wake.”