Divorce to cost Russian billionaire $492m Dubai-based yacht

Divorce to cost Russian billionaire $492m Dubai-based yacht

Mubasher: A court in the UK has issued a ruling to seizure a luxury $492 million yacht owned by a Russian billionaire, as this was considered one of the largest divorce payouts in UK history, as reported by Bloomberg.

Upon the court’s ruling, Farkhad Akhmedov should transfer his ownership of the 115-metre (380-foot) MV Luna, currently impounded in a dry dock in Dubai, to his wife, Tatiana Akhmedova.

“The judge granted the order to uphold his earlier 453.5 million-pound ($646 million) judgment,” as reported by Bloomberg, according to Arabian Business.

It was reported that the Russian billionaire tried to hide his ownership of the yacht behind a group of companies and moved the ship to Dubai on the belief that it was "well beyond the reach of an English court judgment," Judge Charles Haddon-Cave said.

Akhmedov has purchased the Luna in 2014 after it was originally built for Roman Abramovich.

Bloomberg noted that “The transactions form part of the billionaire’s "continuing campaign to defeat Akhmedova by concealing his assets in a web of offshore companies," Haddon-Cave wrote, declaring that the prior deals be set aside.”

Their marriage was dissolved in Russia as Akhmedov claimed he had supported his wife, but he blamed cynical lawyers for later filing for divorce in London, and UK politics for the court’s decision.

“Can it really be a coincidence that this is all happening while the British Foreign Secretary Boris Johnson’s comments” make it plain that “the UK seeks to seize assets belonging to wealthy Russians,” Akhmedov said in an emailed statement.