The world's most expensive divorce
The ex-wife of a Russian oligarch has been awarded £2.6billion in a record-braking divorce settlement. The divorce has been dubbed as "the most expensive divorce in history”.
A Swiss court awarded the ex-wife of Dmitri Rybolovlev, owner of the French football club AS Monaco, half of his vast fortune in their divorce.
A record-breaking settlement
The record-breaking ruling deprives the Russian billionaire 4billion Swiss francs. The lawyer of Rybolovlev's wife called the judgment the "most expensive divorce in history”.
According to Forbes, Rybolovlev is the world's 147th richest man and is worth $8.8billion. It has been suggested the Russian oligarch had attempted to hide the full extent of his assets and fortunes via ventures offshore.
Mr Rybolovlev lives in Monaco and also has an estate in Saint Tropez in the South of France. The oligarch's assets include an art collection which comprises of Monet, Van Gogh, Picasso and Gauguin originals.
An appeal planned
It was announced by Rybolovlev's lawyer, Tetiana Bersheda that the oligarch would appeal against the judgment. Tetiana Bersheda said the ruling had confirmed: "Both the validity of the trusts of the asset transfer to them that occurred long before his wife initiated divorce proceedings.”
Bersheda said that Rybolovlev felt confident about making an appeal on the basis that the structures of the change were "immune from legal change.” The appeal would raise the question over whether the oligarch's properties outside of Switzerland would be vulnerable to the ruling.
As well as being awarded the 'exact' sum of money she sought from the court, Ms Rybolovlev was also given custody of their 13-year-old daughter.
It is reported that it was on New Year's Eve 2008 when Dmitry Rybolovlev found out about the divorce petition from his bankers after his accounts had been frozen.
It was in the petition that his ex-wife said she could no longer bare his infidelities. Ms Rybolovlev described the parties her ex-husband would have on his yacht, saying he had shared some "young conquests with his friends, and other oligarchs.”
A six-year divorce battle
The divorce battle had been ongoing for six years. The divorce had taken so long to reach a judgment due to the fact the Russian oligarch had put up strong resistance.
According to reports, when their marriage fell apart in 2008, Rybolovlev may have attempted to keep his fortune away from his wife. A spokesman of the oligarch's said that even Rybolovlev's 65% stake in the Monaco Football Club was bought by a trust in his daughter's name.
The sum of £2.6billion dwarfs the previous most expensive divorce between the art heir Alec Wildenstein and his former wife Jocelyn, which was estimated at $2.5billion (£1.5 billion).
Until this year's settlement between Dmitry Rybolovlev and his ex-wife, the second most expensive divorce settlement was in 1999 when the media mogul Rupert Murdoch was awarded to pay his former wife £1 billion.
Lawyer Marc Bonnant, who advised Elena Rybolovlev, spoke of how compared to cases like the Brezovskys, the Rybolovlev's settlement is "an official judgement” and "not something sneaky behind the scenes.”
What are your thoughts on the "world's most expensive divorce?” Do you think Ms Rybolovlev entitled to half of her ex-husband's vast fortunes? Does Mr Rybolovlev have legitimate grounds to appeal? We'd love to know your thoughts.
If you have any concerns about a divorce settlement, get in touch with Tracey Miller Family Law and one of our divorce and family law specialists will provide you with help and advice.