Natalia Potanina was married to one of Russia’s richest men, Vladimir Potanin, who, according to the latest edition of Forbes magazine, is worth around £10 billion and is currently the fourth richest man in Russia and the 78th richest man in the world. “Penniless students” when they met, the fortune was amassed during their 30-year marriage, when the couple lived an extravagant lifestyle enjoying holidays on one of their two luxury yachts and living in a mansion (likened to Versaille!) near Moscow.
This all came to an end in late 2013 when Vladimir announced he wanted to split after having an affair with a junior employee. Natalia declined to sign the divorce papers and is now seeking a financial settlement of half of her husband’s fortune (£5 billion). It is claimed that Vladimir’s original offer to his wife was:
- medical insurance
- a driver
- maintenance for their youngest son, Vasily, who was 17 years old
Why might UK decide on asset split
Foreigners can look for a divorce settlement in the UK if they can prove they have strong links to the country.
Natalia is currently living in London in a three-bedroom flat. She says she is unable to return to Russia as to do so would result in her passport being seized.
Highest settlement in British history in divorce capital of the world
In 2014 a divorce court in Moscow sided with Vladimir and, quite surprisingly, agreed that he had few assets. A company, which Natalia claimed was linked to her husband, filed a writ for $1.1 damages against her when it tried, and failed, to sell the mansion she lived in. Natalia also claims that her husband’s shares are hidden behind complex corporate structures.
She has appealed to Russia’s Supreme Court where she is hoping for justice, claiming that she is entitled to half her ex-husband’s fortune as it was made during their marriage. If the appeal fails (which is expected), the likely next step will be to take legal action in the UK.
If Natalia is successful and the £5 billion settlement is made, it will stand to be the highest in British divorce history, overtaking the £337 million settlement awarded to Sir Chris Hohn’s wife in 2014 and the notable case of another Russian, Boris Berezovsky, whose wife received a financial settlement of between £165 million and £220 million.
Nicola Cancellar
Proceed with caution!
Even if Mrs Potanina does win her case in the UK, it may not be all plain sailing for her. She will need to proceed with caution, as enforcing such a cross-jursidiction judgement can be challenging and she could be left to cover the cost of that enforcement herself if Mr Potanin fails to pay up – which he may well do!
By Nicola Cancellara, family law solicitor.
