High-asset divorces come with their own unique set of issues. Because of the world’s fascination with the wealthy elite, it’s also common for these divorces to play out in the public eye at least to some degree. This can mean that the couple’s private marital issues and their financial standing end up being discussed by the public at large. Such was true for one Russian couple who reportedly just finalized what was known as the “most expensive divorce in history.”
The couple’s divorce took six years to come to an end, and the final settlement remained undisclosed as the time of reports. However, the long legal battle caught the attention of the international media as people across the globe watched to see what would happen. According to reports, the Russian billionaire involved in the divorce has a net worth of $8.5 billion and is the 165th richest person in the world, as of 2015.
According to reports, the divorce was a contentious one, starting with the wife’s filing. The man was reportedly notified of the divorce petition at a New Year’s party after it was brought to his attention that his assets had been frozen. The man’s wife alleged that infidelity played a role in her decision to file for divorce. The divorce proceedings went on for years and were heard in several different districts. The wife was originally awarded $4.5 billion in the divorce settlement, but this was reduced to just less than $600 million after the husband decided to bring it to an appeals court.
In high-asset divorce, appeals are a common occurrence, and, as shown here, are important not to be discounted. Understanding how settlement decisions are made in these cases and who has the right to appeal is an important part of protecting your financial interests.
Source: Forbes, “The Saga Of Russian Billionaire Dmitry Rybolovlev’s $4.5B Divorce Comes To An End,” Agustino Fontevecchia, Oct. 20, 2015
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