Forbes Magazine with Philip Ryabchenko, BIEL Managing Partner, Published Article on Divorce Cases in London.

31 March 2020

According to the UK’s Ministry of Justice, British courts received nearly 70,000 online divorce claims over the last 20 months. In 2019, the High Court of England and Wales considered the divorce cases of billionaires Vladimir Potanin and Farkhad Akhmedov, Boris Shemyakin, President of Kuznetsky Most Development, and former NMTP Director Igor Vilinov. This list is by far not exhaustive because in each case the court decides on the confidentiality of proceedings, with many divorce cases remaining secret. Why will rich people divide their stack in London?
Wealthy men will prefer to settle things in Russia as the British law requires to disclose the information on all assets and allows to divide off-shore property, says Philip Ryabchenko, a BIEL Managing Partner, who had Arkady Rotenberg and Natalia Potanina among his clients.
In the course of the UK proceedings to divide property, each party is required to disclose the information on all family assets anywhere in the world. Before the inevitability of disclosure a richer spouse will often agree to start negotiating an amicable agreement, Philip Ryabchenko points out. In family disputes, he says, it is important (though not enough) to be able to reach an agreement. According to his observations, former wives of wealthy people seek a quick and decisive victory as they are convinced that any door will automatically open before them even after the divorce.

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