Dubai superyacht row: Russian oligarch forced to sell $5 million helicopter in divorce settlement

A Russian oligarch whose superyacht is impounded in a Dubai harbour has been forced to sell a $5 million (Dh21 million) helicopter and give the cash to his wife as Britain's biggest ever divorce case continues.

Oil and gas tycoon Farkhad Akhmedov has refused to give up the $500m (Dh1.8 billion) yacht Luna, which is at the centre of legal negotiations with his former wife Tatiana.

It remains in port at Mina Rashid until lawyers can break the deadlock of complex legal argument.

Cash raised from the sale of the Eurocopter EC155, registered as M-LVNA Fairoaks and formerly owned by Mr Akhmedov, is hailed by lawyers representing his former wife as the first financial return in the initial Dh2.04 billion settlement granted by the High Court of London in 2016.

Mr Akhmedov has refused to recognise the court’s decision, claiming the court does not have jurisdiction in Dubai.

The matrimonial award has also been enforced against a number of Mr Akhmedov’s other assets, including a private jet as well as the superyacht.

“The sale of this helicopter proves our enforcement methods are not just working but bearing fruit,” said Ms Akhmedova’s lawyer, Jonathan Wild who is based in the Isle of Man.

“The net has been closing on Mr Akhmedov for a while now. We have a long way to go until the full judgement debt is satisfied but we move closer to seizing and beginning to liquidate the remaining assets every day.”

Russian national Mr Akhmedov, who has an estimated wealth of $1.4 billion (Dh5.1 billion), is petitioning against the high court’s decision to grant his wife ownership of the 115 metre yacht under the terms of their divorce settlement.

Luna has been docked at Port Rashid since February, awaiting a final settlement on the UK decision, that has so far not been recognised by Sharia courts in the UAE.

The luxury boat, formally owned by Chelsea FC owner Roman Abramovich, is central to the wealth recovery targeted by Ms Akhmedova’s legal team, as it is the 23rd largest in the world, with on board swimming pool, spa and two helipads.

In November, Dubai’s Sharia Court ruled against the upholding of a freezing order that had been placed on Mr Akhmedov’s assets, including the yacht, with Ms Akhmedova ordered to pay her ex-husband’s legal fees as part of the verdict.

Her lawyers said the helicopter was seized in 2017, shortly after landing at an airport near Bodrum in Turkey before it was moved to Greece, and then the Isle of Man.

The National