Russian billionaire Dmitry Rybolovlev has been ordered to pay
about £2.7bn to his ex-wife in what could become the biggest divorce settlement
in history.
In papers delivered on Monday to both parties, a court in
Switzerland said Mr Rybolovlev, 47, one of the owners of French soccer club AS
Monaco, must pay more than 4bn Swiss francs to Elena Rybolovleva, also 47.
The judgment also granted his ex-wife property in the ski
resort of Gstaad worth 130.5m francs (£86m) and two other buildings in the
wealthy Cologny area of Geneva, where the couple once lived together. It
confirmed her custody of their 13-year-old daughter, Anna. The couple also has
an adult daughter, Ekaterina.
Ms Rybolovleva’s lawyer Marc Bonnant called it “the most
expensive divorce in history”, an unheard-of amount for Switzerland.
But Mr Rybolovlev's lawyer, Tetiana Bersheda, said that the
judgment's cash order was likely to be whittled down during the appeal process.
“There will definitely be a new appellate review and therefore this judgment is
not final given the existence of two levels of appeal in Switzerland,” she
said.
Elena Rybolovleva
A statement by Mr Bonnant and two other lawyers in the case
said the record judgment was “a complete victory” for their client and that
under Swiss law she was entitled to half the fortune he made during their
marriage. Most of that fortune was transferred to Cyprus-based trusts in 2005.
The three lawyers said Monday's ruling demonstrated that “no
one — not even a Russian tycoon who put his fabulous fortune into legal
structures such as trusts and offshore companies — is above the law”.
But Mr Rybolovlev's lawyer suggested the opposite, praising
the judgment for “confirming both the validity of the trusts created by Mr
Rybolovlev and the validity of the asset transfer to them that occurred long
before his wife initiated divorce proceedings”.
His ex-wife had demanded about £3.5bn from the man known as
the “fertilizer king”, whose fortune from potash mining once made him the
world's 79th richest person. He is now ranked 147th on the Forbes list of
billionaires, with an estimated fortune of £5.2bn.
The couple met as university students in Perm, Russia, and
married there in 1987. Divorce proceedings began in 2008.
Mr Rybolovlev and his daughter Ekaterina used money from the
trusts to buy some of the most expensive properties in the US, including a
penthouse apartment at Central Park West in New York and a mansion in Palm
Beach, Florida.
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