In an unfolding saga that could potentially lead to the highest-value divorce settlement in English legal history, Vladimir Potanin, a Russian oligarch with an estimated net worth of $20 billion, has recently secured a victory in the Supreme Court against his ex-wife Natalia Potanina’s financial claims. This case highlights the complexities of international legal disputes and underscores the vast fortunes at stake in the divorce proceedings of the ultra-wealthy.
As of January 2024, Vladimir Potanin was the wealthiest man in Russia. He is the 45th richest person in the world,[5] with an estimated net worth of $31.7 billion, according to the Bloomberg Billionaires Index.
Potanin, aiming to nullify a Court of Appeal decision that favored Natalia’s ability to pursue a multibillion-pound lawsuit in London, took his battle to the highest court in the UK. His legal representatives argued that proceeding with the claim would subject Potanin to extended litigation in English courts, notably generous in divorce settlements.
Natalia Potanina, through her legal team, maintained that the Court of Appeal’s judgment was just, advocating that she deserved a significant portion of the family’s wealth accumulated over decades of marriage. The stakes of her claim are monumental, seeking an estimated £5 billion from her ex-husband, which, if granted, could mark a historic financial award in the realm of divorce settlements.
The Supreme Court, in a majority decision, sided with Potanin, identifying a legal misstep in the Court of Appeal’s earlier ruling on a procedural issue. However, the victory for Potanin is partial, as the case has been remitted back to the Court of Appeal for further examination of unresolved legal matters. Lord Leggatt, representing the Supreme Court’s view, expressed that the intricacies of adjudicating financial orders involving international parties with minimal ties to the UK and those already extensively litigated in foreign jurisdictions are questions ripe for deliberation.
This legal tussle stems from the marriage of Vladimir Potanin and Natalia Potanina, which began in Russia in 1983. The couple, who have three adult children, spent their married life in Russia. According to Mr. Potanin, their separation occurred in 2007, with a Russian court officially dissolving the marriage in 2014. Contrarily, Mrs. Potanina contends that their marital union did not end until 2013, marking a sudden closure to their long-standing relationship.
The Supreme Court’s decision to send the case back for further review by the Court of Appeal indicates that the legal battle over one of the most substantial divorce settlements in history is far from over. This case not only captivates public interest due to the immense wealth and high-profile status of the parties involved but also sets a significant precedent for the treatment of international divorce cases by the English legal system.
