Dubai Courts upholds London High Court decision on $500 yacht

Dubai – Mubasher: Dubai Courts has upheld the order imposed by the London High Court in April to transfer the ownership of $500 million 115-metre yacht Luna to a divorced wife.

Tatiana Akhmedov, a dual citizen, was divorced from her husband Farkhad Akhmedov, a Russian oil tycoon, in 2014, a divorce that was followed by a legal dispute between both spouses.

After a settlement, Farkhad was obliged to pay his ex-wife $6.3 million annually for life, but he refused this decision, leading a court in the UK to freeze all his assets, including the contested yacht.

“In line with the UK court order, we will continue to arrange the formal transferral of Luna’s ownership to Ms Akhmedova,” Tatiana’s legal team commented.

Mubasher Contribution Time: 29-Aug-2018 11:19 (GMT)
Mubasher Last Update Time: 29-Aug-2018 11:27 (GMT)