According to her husband, the ex-wife of a Russian oligarch who was given Britain’s largest divorce compensation of PS453 million has settled for only PS150 million.
Tatiana Akhmedova is alleged to get given up her fight to have the High Court order that awarded her the world’s largest matrimonial settlement enforced.
Instead, she has agreed to a cash and art settlement worth roughly one-third of the total.
Ms Akhmedova would also have to pay PS74.5 million to Burford Capital, her financial backers.
‘The interference in a case over which the English Court should have had no jurisdiction and the involvement of Burford ultimately achieved nothing for Tatiana,’ said a spokesman for Farkhad Akhmedov.
‘In their attempt to seize Luna, Burford and her spent years and millions of pounds on a costly globe tour of several jurisdictions.
Each of them failed, and the yacht is still and will continue to be owned by Farkhad and his family trusts.
‘Tatiana has received nothing more than her ex-husband offered her six years ago.’
Burford has received no payment from Farkhad.
Tatiana will be responsible for those funds, significantly diminishing the advantage of a settlement she could have gotten before the attorneys and financiers became involved.’ A spokeswoman for his ex-wife could not be reached for comment.
Mr Justice Haddon-Cave in London handed her a 41.5% portion of her ex-husband Farkhad Akhmedov’s PS1 billion-plus fortune.
Mr Akhmedov failed to pay, so Ms Akhmedova began legal action in the United Kingdom and overseas to track down and collect his assets.
Ms Akhmedova said she had hired an asset recovery team, which includes former members of the Royal Navy’s Special Boat Service, to prepare for the case.
Her spokeswoman announced in May that items worth millions of pounds had been retrieved, including a helicopter and speedboat.
Ms Akhmedova also believed she was in a position to lay claim to a superyacht, the Luna, worth more than PS200 million and anchored in Dubai, according to the spokesman at the time.
He said that a court decision in the Marshall Islands, where the vessel is registered, had cleared the way for the transfer of ownership.
Mr. Akhmedov’s spokesman disagreed.
The 115-meter-long ship (above) that Farkhad Akhmedov purchased from Chelsea owner Roman Abramovich has been impounded in Dubai while the bickering ex-couple fights over his assets. Tatiana had applied to a court in the Marshall Islands, where the ship is registered, to take over ownership of the 115-meter Luna (above) as part of her PS453 million divorce settlement.
Mr Akhmedov claims that a British judge should not have made a financial judgement since he and his ex-wife are not British and were not married in the United Kingdom.
Another London High Court judge found earlier this year that Ms Akhmedova had been the victim of a “series of schemes” aimed at putting “every penny” out of her grasp.
Ms Justice Gwynneth Knowles, who has handled recent litigation, has concluded that Temur Akhmedov, her ex-husband and eldest son, conspired against her.
Temur Akhmedov was his father’s ‘lieutenant,’ she claimed.
The judge said Temur Akhmedov had received enormous quantities of money and ordered him to reimburse his mother roughly PS75 million.
Burford Capital is one of a growing number of litigation funding companies in the UK as class action lawsuits become increasingly popular.
Therium Litigation Funding, a competitor, is now financing a group of pension funds and asset managers who will learn this week if they can join a group to bring legal action against several major banks for allegedly rigging foreign currency rates.
Former Pensions Regulator Michael O’Higgins is leading the legal action, which might result in a PS1 billion settlement to consumers who have been cheated.