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Who Gets The $637 Million Superyacht?

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The seizure of a $637 million superyacht marks a staggering development in an exorbitantly expensive divorce case unfolding in London. Farkhad and Tatiana Akhmedova married in 1993 in Russia and moved to London, where Ms. Akhmedova raised their two sons. The marriage concluded in 2014, leading to a UK divorce filing by Ms. Akhmedova in 2016.

The MV Luna and Divorce Settlement

The MV Luna, a nine-deck, 115-meter-long superyacht, is at the heart of the divorce settlement between Russian oligarch Farkhad Akhmedov, 62, and his ex-wife Tatiana Akhmedova, which has set records for the highest stakes in the United Kingdom.

Ordered by Judge Charles Haddon-Cave of the High Court in London, Ms. Akhmedova is set to receive 41 percent of her former husband’s assets, totaling approximately 453 million pounds (AU$825 million). Farkhad Akhmedov’s estimated fortune is worth 1.3 billion pounds (AU$2.37 billion).

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Asset Concealment

Despite Mr. Akhmedov’s attempt to sell the MV Luna to an offshore company in 2014, the court ruled it as a concealment of assets. The yacht, the second-largest expedition yacht globally, is currently impounded in a dry dock in Dubai.

The superyacht boasts opulent features such as a 20-meter outdoor swimming pool, a mini-submarine, 50 crew members, two helipads, and an anti-missile system. Akhmedov acquired the yacht from fellow Russian oligarch Roman Abramovich in 2014, the same year he and his wife filed for divorce.

This high-profile divorce case has witnessed Akhmedov’s attempts to shield his wealth, including allegations of relocating his 90.5-million-pound (AU$165 million) modern art collection to Lichtenstein.

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Enforcement of Court Order

Since the divorce proceedings commenced in 2014, Akhmedov has faced challenges in complying with the court’s order to pay the 41% settlement. Judge Haddon-Cave has emphasized the need for swift enforcement of the superyacht handover.

The protracted legal battle has spotlighted the efforts of high-profile individuals, including businessmen, bankers, and financial professionals, in navigating the complexities of costly divorces in the UK.

Expensive Divorces

Acknowledging the reputation of London courts as favourable venues for handling divorce settlements involving immense wealth, individuals can utilize this checklist as a starting point to navigate the complexities of high-net-worth divorces effectively.

There is generally a fairer division of assets, as judges recognise the value of homemaking as equal to the value of earning money for a family.

Mr Akhmedov remains very reluctant to transfer ownership of his yacht. He says he has supported his wife since their relationship ended and has drawn parallels between his situation and the bad relations between the British government and the President of Russia Vladimir Putin.

He also argues that any transfer of ownership would entail a long legal procedure and that Luna’s value may have depreciated by the time any arrangement was finalised