The former wife of one of Russia’s wealthiest individuals has been granted approval for a multibillion-pound divorce settlement, expected to become the largest divorce case in English legal history.
Natalia Potanina is seeking a £5 billion payout from Vladimir Potanin, whose net worth is approximately $20 billion, equivalent to £15.7 billion. Commencing legal action in 2019, she recently succeeded in a Court of Appeal bid to pursue a multibillion-pound claim against her ex-spouse, who is currently under sanctions for his role in the conflict in Ukraine.
Residing in a lavish estate near Moscow resembling Versailles, Ms. Potanina and her former husband enjoyed vacations on the Mediterranean and Cap d’Antibes aboard one of their two luxurious yachts. However, their marriage unraveled in 2013 when Mr. Potanin disclosed his desire to separate after engaging in an affair with a junior colleague.
The ongoing acrimonious legal dispute, spanning over a decade, began when Ms. Potanina refused to sign divorce papers after her estranged husband claimed she did not require financial assistance.
She now aims to claim half of her ex-partner’s fortune amassed during their marriage, emphasizing that their love blossomed during their impoverished student days in the egalitarian Soviet era of the 1970s. Central to the disagreement is the family’s residence in Nemchinovo village, located in a pine forest 17 miles west of Moscow.
Sharing the estate with their three adult children, Anastasia, Ivan, and Vasily, the property boasted a designer garden, basement casino, spa facilities, and historic artworks by the Russian artist Vasily Polenov. Since around 2014, Ms. Potanina has been residing in London.
In a 2016 interview, she highlighted societal gender disparities, stating that many individuals, especially in Russia, face similar predicaments due to male-dominated structures. Reflecting on her personal journey, she acknowledged her evolving feminist stance.
During a July hearing, her legal team argued that she had contributed significantly to the family’s wealth through her role as the primary caregiver for their children. Conversely, Mr. Potanin’s lawyers contested the appeal, citing Ms. Potanina’s lack of ties to England.
However, a recent ruling by Lord Justice Moylan, Lady Justice Falk, and Lord Justice Cobb affirmed that Mrs. Potanina has a substantial basis to pursue extensive financial compensation post-divorce without limitations or discounts.
While Mr. Potanin maintains that the separation occurred in 2007, a Russian court finalized the divorce in 2014. Mrs. Potanina contests this, claiming the actual separation took place in 2013. Mr. Potanin faced UK sanctions in June 2022 following Russia’s military actions in Ukraine.
The latest decision follows years of legal battles in UK courts. Initially dismissed by Mr. Justice Cohen in 2019, Mrs. Potanina’s case was later reinstated by the Court of Appeal in 2021. In the subsequent Supreme Court appeal, a three-to-two majority ruled in favor of Mr. Potanin, prompting a reconsideration by the Court of Appeal.
During the Court of Appeal proceedings in July, Mrs. Potanina’s counsel, Charles Howard KC, criticized the handling of her English ties by Mr. Justice Cohen, accusing him of inconsistency and illogical rulings influenced by Mr. Potanin’s assertions of her being a “divorce tourist.”
Written submissions by Lord Faulks KC on behalf of Mr. Potanin argued against Mrs. Potanina’s jurisdictional claims due to her limited historical connections with England.
In a written verdict, Lord Justice Cobb disputed the prior judgments, affirming Mrs. Potanina’s substantial grounds for pursuing her claims in the English legal system. Responding to the ruling, Frances Hughes from Hughes Fowler Carruthers, representing Mrs. Potanina, expressed gratitude for the court’s recognition and hoped for a prompt resolution of the case.
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