Divorcee owed £450 million waits for ruling on fight over yacht and art

June 30, 2020 2:34:42 PM

A divorcee whose Russian billionaire ex-husband owes her £450 million is waiting for a judge’s ruling after becoming engaged in a fight over a £346 million yacht and a modern art collection valued at more than £115 million.

Tatiana Akhmedova was awarded a 41.5% share of businessman Farkhad Akhmedov’s £1 billion-plus fortune by a British judge in late 2016.

Mr Justice Haddon-Cave, who analysed the case at a trial in the Family Division of the High Court in London, said Ms Akhmedova should walk away with £453 million.

But, he has heard, that she has so far pocketed about £5 million and Mr Akhmedov has not “voluntarily” paid a penny.

Ms Akhmedova says Mr Akhmedov has deployed a “strategy of evasion” and tried to put assets, including the yacht, the MV Luna, and the art collection beyond her reach.

She has taken legal action in Britain and abroad in a bid to get her hands on money and assets.

That has led to her becoming embroiled in litigation with a number of trusts based in Liechtenstein, into which Mr Akhmedov has transferred assets, and with her son Temur, who she says is his father’s “lieutenant”.

Another judge, Mrs Justice Gwynneth Knowles, on Tuesday finished overseeing the latest round of her legal fight, at a virtual hearing in the Family Division of the High Court.

Mrs Justice Knowles said she hoped to deliver a ruling before the end of July.

The judge heard that Mr Akhmedov had transferred the yacht and the art collection into the ownership of trusts in Liechtenstein.

Mr Justice Haddon-Cave had said the yacht and art collection should be transferred to Ms Akhmedova.

But trustees have asked Mrs Justice Knowles to release them from their “obligations to execute transfers”.

They say orders telling them to transfer the yacht and art collection would “require” them to act in “violation of the law of Liechtenstein”.

Ms Akhmedova says their application should be rejected.

Mrs Justice Knowles also analysed arguments about “monetary assets”.

Trustees of two Liechtenstein trusts, into which Mr Akhmedov transferred “monetary assets”, say proceedings brought against them in London by Ms Akhmedova should be halted and shelved.

Ms Akhmedova says those proceedings should continue.

The judge had heard the bulk of the arguments earlier in June.

Lawyers returned to court on Monday to complete submissions.

Mr Akhmedov has said that, because he and his ex-wife are not British, and were not married in Britain, a British judge should not have made a decision.

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