DUBAI, Feb 12 (Reuters) - A Dubai appeal court has dismissed
a freezing order on a $436 million superyacht belonging to a
Russian billionaire at the centre of one of the world's
costliest divorce battles, according to a copy of the final
ruling reviewed by Reuters.
But it is still not clear whether superyacht M.V. Luna,
impounded in 2018, will be able to depart Dubai after a British
court's freezing order was dismissed on Feb. 5.
Oil and gas tycoon Farkhad Akhmedov was ordered to pay about
40% of his fortune to his former wife Tatiana Akmedova by
London's High Court in 2016, in one of the largest divorce
settlements in legal history.
But he failed to pay the 453 million pound ($588
million)divorce bill and the London court granted a worldwide
freezing order, under which Akhmedov's yacht was impounded in
the Gulf Arab emirate.
A spokesman for Tatiana Akhmedova, who is trying to enforce
the freezing order, said an injunction from the Marshall Islands
prevents the yacht from setting sail.
The vessel was still moored on Wednesday, according to
Refinitiv ship tracking data.
Luna, an expedition yacht built for Russian billionaire
Roman Abramovich before Akhmedov bought it in 2014, has at least
nine decks, space for 50 crew, two helipads, a vast swimming
pool and a mini-submarine.
The Dubai court of appeal's final decision, English and
Arabic copies of which were provided to Reuters by Akhmedov's
lawyers, came after two years of legal battles in the emirate
over the freezing order.
Lawyers acting for Akhmedova said on Wednesday they would
not comment on possible next steps until they assess the reasons
for the court ruling, but said the yacht still could not sail.
"An injunction imposed by the Marshall Islands authority,
the flag state of the yacht, prevents it from doing so. That
injunction has never been challenged and demonstrates the
undoubted rights of position," said the lawyers'
statement, provided by the spokesman.
Akhmedova began divorce proceedings in Britain in 2012.
Akhmedov said he and his wife had already divorced in Russia in
2000, but various Russian and British courts have found no
evidence to support this assertion.
Akhmedova is using London-listed litigation funder Burford
capital. Burford did not immediately respond to a
request for comment.
Forbes estimates Akhmedov's net worth at $1.4 billion. The
U.S. Treasury Department has put him on a list of sanctioned
Russian state-owned companies and so-called "oligarchs",
identified as close to President Vladimir Putin.
($1 = 0.7702 pounds)
(Reporting and writing by Lisa Barrington
Editing by Gareth Jones)
Burford Capital (BUR)
