Google the name Dmitry Rybolovlev. You will not be disappointed.
Rybolovlev has made news headlines previously, just for being ridiculously rich. This week however, he is making headlines due to his record breaking property settlement that was recently ordered by a Swiss court.
Rybolovlev has been ordered to pay his ex wife half of his estimated $8 billion fortune. They were married for 26 years and have two children together, one who is still a minor. The settlement includes real estate, a spousal maintenance order and child support payments of $150,000 a month.
This case has stood out to us for a number of reasons:
- The asset pool was beyond belief;
- The property settlement took over 5 years;
- The elaborate ways in which Mr Rybolovlev attempted to reduce his fortune, by spending massive amounts of money on things such as European soccer teams; and
- This is a dream case for any family law specialist, no matter which side you are on.
Property settlements are a family lawyers chocolate cupcake. We love them.
We love working on them and we love getting our client a good result.
While Ryboloblev’s case is more on the extreme end of property settlement it is a good reminder that the settlements are not always easy and if there is a lot of money and/or assets it can take some time to conclude. It can also take a very long time if there has not been an amicable split.
Even if you are not a multi billionaire you may still have important assets that need to be divided. The law in Australia is not as clear cut as a 50/50 split and you may in fact be entitled to more. There are also more amicable ways to decide your settlement that can help you stay out of court, and prevent a 5 year ordeal.
Here at Farrar Gesini Dunn we have an office full of Family Law experts who can settle even the most extreme property settlements. We recommend that if you or someone you know has separated or divorced, they come in and speak with one of our solicitors today.