For the United Kingdom, the influx of Russian capital – and capital of the super-wealthy from other parts of the world – had advantages. Property prices and tax cages have skyrocketed, and a mini-industry of accountants, lawyers and consultants has emerged, helping these migrants navigate tax codes and buy expensive items like football teams.
This mutually beneficial relationship had its share of hiccups, and Akhmedov’s divorce is one of them. Born in Azerbaijan, Akhmedov earned about $ 1.4 billion through a Siberian energy company, Northgas, and has long seemed determined to enjoy his wealth.
In addition to mansions, a private jet, helicopters and masterpieces by artists like Rothko and Warhol, he bought a $ 500 million yacht, Luna, from his fellow oligarch Roman Abramovich. There are 380 feet of floating luxury, with nine decks, space for 18 people, a crew of 50 and – just in case – a missile detection system and bombproof doors.
Allegations of infidelity by husband and wife led to divorce, but Mr. Akhmedov refused to even send a lawyer for the 2016 lawsuit, arguing that the couple was already divorced. A Moscow court dissolved the marriage in 2000, he said.
Judge Charles Haddon-Cave, who oversaw the trial, was not impressed. He described the documents supporting Moscow’s divorce as “forged”. When Akhmedova was unable to collect more than a slice of his record prize, the judge ordered his ex-husband to hand over his yacht. He refused.
At that time, Akhmedova signed a contract with Burford Capital, a publicly traded litigation finance company, which subscribed millions in attorneys’ fees and provided him with millions for living expenses. The company will have a 30 percent cut in any recovery, plus a multiple of legal expenses.