Russian oligarch faces $4.5 billion Swiss divorce

Published on NewsOK Modified: May 19, 2014 at 3:48 pm •  Published: May 19, 2014
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GENEVA (AP) — A Swiss court has ordered a Russian billionaire to pay more than $4.5 billion to his ex-wife in what could become the biggest divorce settlement in history.

In papers delivered Monday to both parties, the Geneva Tribunal of First Instance said Dmitry Rybolovlev, an owner of the French soccer club AS Monaco, must pay 4,020,555,987.80 Swiss francs ($4,509,375,184.80) to ex-wife Elena Rybolovleva of Geneva. Both are aged 47.

The judgment also granted his ex-wife property worth 130.5 million francs ($146 million) in property in Gstaad, Switzerland, where the couple owned two swanky chalets. It awarded his ex-wife two other pieces of real estate in the ultra-wealthy area of Geneva known as Cologny, where the couple once lived together, but listed no value for either address. And it confirmed her custody of their 13-year-old daughter, Anna. The couple also has an adult daughter, Ekaterina.

Her lawyer Marc Bonnant called it "the most expensive divorce in history," an unheard-of amount for Switzerland and for Russian oligarchs.

But Rybolovlev's lawyer said that the judgment's cash order was likely to be whittled down in coming appeals.

"There will definitely be a new appellate review and therefore this judgment is not final given the existence of two levels of appeal in Switzerland," said Tetiana Bersheda.

A separate statement by Bonnant and two other lawyers in the case, Corinne Corminboeuf Harari and Caroline Schumacher, called the record judgment "a complete victory" for her and said that under Swiss law she was entitled to half the fortune he made during their marriage. Most of that fortune was transferred to Cyprus-based trusts in 2005.

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