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Farkhad Akhmedov wins $436m superyacht in divorce fight | Farkhad Akhmedov wins $436m superyacht in divorce fight |
(about 4 hours later) | |
A Russian businessman has won back his $436m (£330m) superyacht, the latest development in his long-running divorce proceedings. | A Russian businessman has won back his $436m (£330m) superyacht, the latest development in his long-running divorce proceedings. |
Farkhad Akhmedov announced that a Dubai appeals court had overruled an earlier decision to seize the ship from him. | Farkhad Akhmedov announced that a Dubai appeals court had overruled an earlier decision to seize the ship from him. |
A UK court had previously ordered the former oil and gas trader to pay his wife $600m in a divorce settlement. | A UK court had previously ordered the former oil and gas trader to pay his wife $600m in a divorce settlement. |
But the court ruled that decision was unenforceable in Dubai and the seizure of the superyacht should be cancelled. | But the court ruled that decision was unenforceable in Dubai and the seizure of the superyacht should be cancelled. |
"Mr Akhmedov is delighted but not surprised by today's court decision in favour of the Akhmedov family trust," a spokesman for the oligarch said. The statement was reported in Gulf News. | "Mr Akhmedov is delighted but not surprised by today's court decision in favour of the Akhmedov family trust," a spokesman for the oligarch said. The statement was reported in Gulf News. |
The spokesman said Mr Akhmedov's ex-wife's attempts to seize his assets were "as misguided as the original English High Court" ruling. | The spokesman said Mr Akhmedov's ex-wife's attempts to seize his assets were "as misguided as the original English High Court" ruling. |
But lawyers for his former wife, Tatiana Ahkmedova, reportedly called the ruling "procedural". | |
"Akhmedova will simply continue to pursue her claims in the Dubai Courts," a statement seen by Reuters says, adding that she "successfully obtained additional orders in the English Court yesterday" to secure the vessel. | |
The divorce settlement in 2017 is thought to be one of the biggest in UK history. | The divorce settlement in 2017 is thought to be one of the biggest in UK history. |
Mr Akhmedov has insisted he and Tatiana divorced in Russia in 2000. | |
Justice Haddon-Cave however said he could find no evidence of this, concluding the original divorce documents were "forged". | Justice Haddon-Cave however said he could find no evidence of this, concluding the original divorce documents were "forged". |
The judge ordered that Mr Akhmedov's assets be frozen around the world to ensure his former wife could recover the money she was due. | The judge ordered that Mr Akhmedov's assets be frozen around the world to ensure his former wife could recover the money she was due. |
But the Dubai Court of Appeal has now ruled it was wrong to impound the superyacht Luna, which previously belonged to Russian billionaire Roman Abramovich. | But the Dubai Court of Appeal has now ruled it was wrong to impound the superyacht Luna, which previously belonged to Russian billionaire Roman Abramovich. |
It also said Ms Akhmedova must pay all of her former husband's legal costs. | It also said Ms Akhmedova must pay all of her former husband's legal costs. |
Both Mr Akhmedov and his ex-wife are Russian citizens, although she has permanent right to remain in the UK. | Both Mr Akhmedov and his ex-wife are Russian citizens, although she has permanent right to remain in the UK. |
The US Treasury lists Mr Akhmedov as an oligarch, someone they say has a net worth of $1bn or more, who is close to Russian President Vladimir Putin. | |
Forbes magazine estimates his current wealth at $1.4bn. | |
You may also be interested in: | You may also be interested in: |
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