Husband fails to escape £453.5 m pay out to wife

Leading case demonstrates wide reaching powers of court to address attempts to hide money.

 

After an English divorce court awarded a wife £453.5 m in 2016 it seems that the husband went to some lengths to avoid paying the award.  This did not bode well in the eyes of the court.  The husband got a nasty surprise.

The court (in the case of Akhmedova v Akhmedov) found that the husband set up two companies to receive his assets and in a deliberate attempt to put them beyond the reach of the wife and the court’s 2016 order.

 

The companies were found to be the husband in 'costume'.  The court  ordered that the companies pay the wife the monies owed and made the company jointly liable for them.

 

Neither did the creation of offshore trusts and companies, owning a helicopter in the Isle of Man or a private yacht in Lichtensten help the husband.  The English court’s powers are far reaching with other countries co-operating to ensure the wife receives what she is owed.

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