Menu
 
01525 378 177
 

Request a Brochure


* required
Send my newsletter by:
 

Request Your Free Life Organiser



* required
Send my newsletter by:
 

Sign Up To Our Quarterly Newsletter



* required
Send my newsletter by:
 

News & Articles

Osborne Morris & Morgan > News and Articles > Family > World’s largest divorce settlement reduced

World’s largest divorce settlement reduced


Posted on 21 Mar 2016, in Family
 

Newspapers in Bedfordshire included news of the latest round in what was the world’s largest reported divorce settlement. A Russian oligarch won his appeal in a Swiss court and reduced the pay-out from $4.8 billion to a little over $600 million. The former partner of the 48 year-old billionaire is claiming that he sought to hide assets and will reportedly challenge the ruling. To date, the largest divorce settlement is thought to have been in the region of $2 billion by the art dealer Alec Wildenstein.

During his career, the Russian businessman worked as a doctor, stockbroker and entrepreneur before acquiring the majority stake in a fertiliser company. At one time, he was accused of murder and jailed, until the charges were dropped. He relocated to Switzerland after he sold his shares in the fertiliser company for $6.5 billion and subsequently started to receive death threats. His wealth included a number of properties in Switzerland, an estate in Saint Tropez, an art collection, the football club AS Monaco and what has been described as the largest penthouse in Monaco, purchased for $280 million.

However, excluded from the settlement are assets in a trust that he claimed he set up for the couple’s children. These include the $150 million island of Skorpios, where Jacqueline Kennedy was married, a Central Park penthouse purchased from the former head of Citigroup for $88 million, Donald Trump’s former Palm Beach property worth $95 million and a Hawaiian property bought from Will Smith for $20 million.

Marital assets can be held in a range of legal and financial structures, located both in the U.K. and in international jurisdictions. Clients may find that employing the resources of a skilled and experienced solicitor, whose goal is to protect their interests, may be invaluable in locating and unravelling complex assets arrangements.

 

How we can help


Since this article has been published we no longer offer Family Law services but we can help you with:

 

01525 378 177

Lines are open Monday to Friday 9.00am to 5.30pm

Contact us online

We aim to respond within 12 hours of receipt of any email received

Accreditations & Awards



SME Luton Beds Business Award_Winner_2019Awards Night 2019In May of this year, we won the title of ‘Leighton Buzzard Business of the Year 2019’ at the SME Luton & Bedfordshire Business Awards.

We were delighted to receive the ‘Leighton Buzzard Business of the Year’ award for our dedication to providing the highest standards of client care whilst building strong links with the local community, supporting local charities and connecting businesses together.

 
Headway Lexcel Law Society Accredited Certainty the National Will Register
Law Society Conveyancing Quality Accredited
Clinical Negligence Accredited - The Law Society
Bedfordshire Businesswomen Finalist 2018
riliance excellence in compliance
Bedfordshire Business Enterprise Awards Winner
Top Ranked Chambers UK 2015
Top Ranked Leading Firm - Chambers UK
apil logo
AVMA logo Cyber Essentials logo