Dh1.8bn superyacht divorce drama continues after ruling by Dubai court
A $500 million (Dh1.8 billion) superyacht at the centre of the UK’s biggest divorce remains anchored in Dubai after a Sharia court overruled the Dubai International Finance Centre court’s decision to uphold a freezing order on the vessel.
The Dubai court on Wednesday dismissed claims by the former wife of Russian oil tycoon Farkhad Akhmedov that the UAE had a duty to uphold a ruling by the London High Court. That ruling followed a court decision, in 2016, that Mr Akhmedov must give his former wife a divorce settlement of £453 million (Dh2.18bn).
A freezing order was subsequently placed on Mr Akhmedov’s assets, including the yacht, after Tatiana Akhmedov claimed that she had yet to receive a penny of the settlement. Ms Akhmedov was ordered to pay her former husband’s legal fees as part of Wednesday’s ruling.
The 115-metre yacht, MV Luna, has been in Dubai since February. It is docked at Mina Rashid.
Mr Akhmedov is petitioning against an English high court decision to grant his wife ownership of the yacht under the terms of their divorce settlement.
Despite the latest development, a spokesman for Ms Akhmedov suggested that the situation is far from clear.
“Both the significance and the substance of the Dubai Court of First Instance’s ruling are yet to be determined.
“All that has been handed down at this stage is the decision.
Until we have the full judgment, together with reasons, we are unable to comment any further,” the spokesman said.