Russian billionaire's ex-wife secures first return of $572m divorce bill

Farkhad Akhmedov has lost a helicopter valued in excess of $5.7 million in his legal battle with Tatiana Akhmedova
Russian billionaire's ex-wife secures first return of $572m divorce bill
Tatiana Akhmedova’s lawyers confirmed the sale of a Eurocopter EC155 helicopter, marking her first financial return since early 2018 when international enforcement actions against her ex-husband’s global asset inventory began.
By Lubna Hamdan
Sun 16 Dec 2018 12:50 PM

The former wife of Russian billionaire and oil and gas tycoon Farkhad Akhmedov, who is embroiled in one of the largest divorce payouts in UK history, has succeeded in seizing and selling a helicopter valued in excess of $5.7 million.

Tatiana Akhmedova’s lawyers confirmed the sale of a Eurocopter EC155 helicopter, marking her first financial return since early 2018 when international enforcement actions against her ex-husband’s global asset inventory began.

The sale took place after Akhmedov failed to honour a 2016 ruling by London’s High Court which requires him to pay around 40% of his fortune to his ex-wife, a dual citizen.

Tatiana’s lawyer said the sale also marks a closer step to the seizure of all remaining assets.

“The net has been closing on Mr Akhmedov for a while now, and the sale of this helicopter proves that our enforcement methods are not just working but bearing fruit. We have a long way to go until the full judgement debt is satisfied but we move closer to seizing and beginning to liquidate the remaining assets every day,” said Jonathan Wild, an advocate and Fraudnet asset recovery specialist with Callin Wild.

The helicopter was previously owned by Lucy Ltd, a company used by Akhmedov in the Isle of Man. It was used for regular shift work travelling to and from $500m superyacht Luna, the main contention of the legal dispute.

The UK court ruled in April that the ownership of the 115-metre yacht, currently held under international arrest at Port Rashid in Dubai, be transferred to Tatyana.

Luna was previously owned by Russian billionaire Roman Abramovich before selling it to Akhmedov in 2014. It features nine decks, two helipads, a large swimming pool and mini submarine.

However, lawyers of Akhmedov continue to argue that the London order cannot be imposed in the UAE. A spokesperson for the tycoon told Arabian Business in September that an imminent ownership transfer of Luna is "pure fantasy."

The matrimonial award has also been enforced against a number of Akhmedov’s assets, including a modern art collection valued at $114m, English property worth $3million, Aston Martin car valued at $440,000 and more including a private jet.

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