It has been reported today that Dmitry Rybolovlev, owner of the AS Monaco football team has been ordered to pay the highest known divorce settlement, a sum of over £2.7 billion.
The divorce proceedings took place in Switzerland and according to the reports, Mr Rybolovlev has the right of appeal, though it is not known whether he will do so.
The award beats even some of the eye-wateringly large payments ordered by the English Courts, often regarded as the “divorce capital of the world” for it’s generous awards, compared with some other jurisdictions which apply for formulaic approaches, rather than a fairness based discretion, as in English Courts.
The decision of “where” to issue divorce and financial proceedings can be important, with differences in the law regarding matrimonial property division meaning the settlement each party receives can vary by thousands, tens of thousands and even millions.
The laws regarding jurisdiction can be complex and technical and often involve input from Lawyers in both countries. Given the huge amount it may affect an award however, checking jurisdictional options is always wise.
Cara Nuttall is a Family & Divorce Solicitor at Slater & Gordon Lawyers in Manchester.
Slater & Gordon Lawyers offer flexible pricing, fixed price divorce & fixed fee Family Law services.
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