A Russian Billionaire’s ex-wife’s divorce award of £453m is soon to be contested in the Court of Appeal. This follows the wife’s own appeal on the basis of her claim that she has not received a penny of the award granted by the Judge at first instance in 2016.
Farkhad Akhmedov, is described as being close to the Kremlin. He is reported by the Times to have owned property and an art collection worth more than £90 million and a £350,000 Aston Martin. He has bought his children flats costing £29 million and has £7.2million in a London development, yacht, plane and helicopter etc….. He was ordered to pay his wife Tatiana Akhmedova 41.5 % of his immense wealth following a High Court hearing in London in 2016. This was less than she believed she was entitled to. She was seeking half of his fortune.
Mr Akhmedov, age 62, earned his wealth from his work as a gas and oil tycoon. He is described in the Times as a close friend of Roman Bramovich, owner of Chelsea football club and contact of President Putin. His wife is in her mid 40’s.
They have two sons who have been brought up by Mrs Akhmedov . The family have been living in London since 1993. There was no nanny on the scene neither in their £39 million Surrey mansion nor in their £27.8 million holiday home. Mrs Akhmedov cared for the children and was awarded her 41.5% of her husband’s wealth on the basis of her “equal contributions to the welfare of the family” during their 20-year marriage. The wife is represented by her lawyer, Baroness Shackleton of Belgravia.
The husband’s team of lawyers raised the argument that Mr Akhmedov made special or stellar contributions to the fortunes of the marriage. Now he has been described by his team as the victim of “manifestly unjust” favouritism towards his ex-spouse by the divorce courts. The original court judge, Mr Justice Haddon-Cave, is accused of being unrestrained in favouring the wife’s position.
There were some interesting twists and turns in the original proceedings leading to the judgement following various reported attempts on the part of the husband to avoid his ex wife’s claim.
It must have cost a fortune and now they are back for round 2.
There is nothing to indicate changing the London Law Court’s reputation as the world’s favourite jurisdiction for expensive divorce cases. It is still described the Divorce Centre of the world. We shall have to see if this case changes the ranking as opposed to other jurisdictions and whether the husband is successful in his appeal. Perhaps they should have tried mediation to avoid publicity and obvious very high costs to continue their post marital dispute.
Mediation is still available to all potential litigants who are sensible and still able to be rational about their situation. It is there for those who value the hard work in earning income and capital during a marriage and also the work involved in bringing up a family and being savvy as to how the law deals with such cases, however much money and assets are in dispute.
Please contact Tricia Muzalewski , Law Society Accredited family mediator at
Wynn Mediation, 612 – 614 London Road, Westcliff On Sea, Essex SS0 9HW Tel: 01702 341241. Email: email@example.com
PMM February 2018