An ex-husband has been order to pay £430 million in one of the biggest divorce settlements in English legal history.

Jen Mills, Metro.co.uk

The former London oil and gas trader, from Russia, was told to pay his British wife 41.5% of his wealth, to meet her needs including a house in London and a villa in the South of France.

It inlcluded an Aston Martin car worth £350,000 and a modern art collection valued at over £90 million.

There has been controversy over the fact the trader, 61, has not been named.

 

Ex-wife granted £453 million in bumper divorce settlement

The High Court in London (Picture: Getty)

Former Liberal Democrat MP John Hemming, said: ‘Here we have a case involving a foreign billionaire which has been heard in a family court in London entirely behind closed doors.

‘If this was a Russian court, sitting in secret to deal with a case of an English billionaire, there’d be questions in the House.’

The man met his wife, now aged 44, in 1989 in Moscow where she was studying and they married four years later, according to a judgement handed down at London’s High Court on Thursday.

The man, who was born in the Caucasus, earned a fortune in Russia’s energy sector, selling shares in a Russian company he set up for $1.37 billion in 2012, said the written ruling from judge Charles Haddon-Cave.

The woman, originally from eastern Europe who was a housewife throughout the marriage, became a British citizen in 2000 and brought up their two children in Surrey, south of London, where they were educated at private schools before going to university in England.

She said that her estranged husband’s wealth amounted to just over £1 billion and argued that the wealth was ‘acquired and built up during their long marriage by the parties’ equal contributions to the welfare of the family’, the judgement said.

The man, who has been granted indefinite leave to live in Britain, did not contest the proceedings, for reasons which the judge said were unclear, but had contended that he had made a ‘special contribution’ to the family’s wealth.

The woman, referred to in the judgement as ‘W’, said she needed a house in London to be near her sons and a villa in the south of France so she could see her sons during their holidays, a maintenance claim which amounted to 224 million pounds.

‘In the absence of any countervailing evidence, I find that these figures are justified on the evidence before me, given the lifestyle which to which W has become accustomed during her married life and leads,’ the judgement said.

The largest previous reported divorce settlement in Britain was the £337 million sum awarded to the estranged wife of hedge fund billionaire Christopher Hohn in 2014, although many divorce disputes are held in private.
(Previously published at metro.co.uk)

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Written by Abel Udoekene Jnr

Abel is a blogger, a social media strategist and a small business influencer.

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