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Interesting

The Oligarch’s Divorce


24/06/2014

In accordance with the ruling of the Geneva court, Dmitry Rybolovlev must pay his ex-wife 4 020 555 988 CHF following their divorce. The couple spent a significant part of their lives in the Alpine country, which is why the divorce proceedings fell under the jurisdiction of the local courts.

According to Swiss law, the wife is entitled to 50% of the assets acquired during the marriage, but her lawyer declared the above sum to be a “complete victory”. It is quite likely that no wife anywhere in the world has ever been granted such a settlement by the courts. However, the ruling is not yet final. The husband is expected to appeal the decision. In accordance with the ruling of the Swiss court, the husbands’ Swiss assets have been frozen, however, it will be very difficult to put the ruling into effect when it comes to assets held abroad.

As far back as 2005, Rybolovlev established an International Trust in Cyprus, where he proceeded to deposit a significant part of his income. However, no agreement on mutual legal assistance has been concluded between Switzerland and Cyprus, so the Swiss will have their work cut out when it comes to the Cypriots, whose reluctance to cooperate in such situations is legendary.

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