The forthcoming split between Roman Abramovich, billionaire Russian tycoon and owner of Chelsea FC, and his wife Dasha Zhukova could be one of the biggest divorce cases ever in London.
Richard Kershaw, Partner in the Family department at Hunters Solicitors:
“There is likely to be a nuptial agreement regulating how the parties’ assets should be divided on divorce and in which country the divorce should take place.
It would be unsurprising if the choice of jurisdiction is Russia and not London. If the divorce takes place in London, it is likely to be settled out of court through arbitration, away from the public eye.
With the marriage being relatively short, and the bedrock of Mr Abramovich’s wealth having been accumulated before the marriage, there is no realistic likelihood of a 50-50 split.
If the matter is disputed in London, Mrs Abramovich’s settlement will be calculated by reference to her “needs, generously interpreted”.
Needs in this sort of case, excluding the needs of the two children, revolve around three primary items – properties and running costs; holidays & travel; personal expenditure (e.g. entertaining, clothing & personal security). With an international lifestyle and multiple properties, “needs” can easily run into the millions each year, on top of outright capital provision for properties, private jet & yachts.
Hypothetically, if these “income needs” were £5m, when capitalised to effect a clean break for a 36-year-old woman this would require a settlement of £162m, on top of capital for properties, private jets, yachts and whatever she already owns.”
Read the full article in Lawyer Monthly here.