Russian tycoon Vladimir Potanin's ex-wife wins right to sue for £16 billion fortune in historic divorce case

Vladimir Potanin’s ex-wife, Natalia Potanina, has won the right to sue him for part of his £15.7 billion ($20 billion) fortune, the Court of Appeal ruled. The legal fight between them began in England in 2019 when Potanina filed her case against the Russian oligarch.

A High Court judge had earlier dismissed her case, saying if it went ahead there would be “no limit to divorce tourism.” The Court of Appeal overturned that rejection and said her claim can now be heard in England, as per the report by Daily Mail.

Divorce settlement fight

Potanina is asking for half of the shares her ex-husband holds in Russian metals and mining giant Nornickel. She also wants half of the dividends he received since 2014 and a luxury Russian property called The Autumn House, worth about £111 million ($150 million).


Her lawyers say she only got £30.9 million ($41.5 million) after their 2014 divorce, which was less than 1% of their huge fortune. Potanin’s lawyers argue she actually received £63 million ($84 million) and that she has no real link to England. Her side says she earned her share after many years of marriage and for being the main carer of their three children, as stated by Daily Mail.

Court battle history

The couple’s timeline is disputed: Potanin says they separated in 2007 and divorced in 2014, but Potanina says the separation only happened in 2013. In June 2022, Potanin, who was then Russia’s second-richest man and head of Interros, was hit with UK sanctions after Russia’s invasion of Ukraine.

The case has been through many stages: dismissed in 2019, revived by the Court of Appeal in 2021, then taken to the Supreme Court by Potanin, which in 2023 backed him with a 3-2 decision and sent it back for review. Lord Justice Cobb said the earlier judge was “wrong” and that Potanina had “substantial ground” to bring her claim in England, as mentioned in the reports.

Judges Lord Justice Moylan, Lady Justice Falk, and Lord Justice Cobb agreed she could seek full financial relief without any limits. Potanin and Potanina married in Russia in 1983, lived there during their marriage, and have three adult children. Frances Hughes, Potanina’s lawyer, said this ruling was the “second vindication” of her client since 2019 and that she hopes the case can now be resolved quickly, as per the Daily Mail report.

FAQs

Q1. Who is Natalia Potanina and what is she asking for?
Natalia Potanina is the ex-wife of Russian billionaire Vladimir Potanin, and she is asking for half of his shares in Nornickel, half of his dividends since 2014, and a luxury house worth £111 million.

Q2. Why did the Court of Appeal allow the case in England?
The Court of Appeal allowed the case because judges said her earlier award was too small compared to Potanin’s fortune and that she has strong grounds to claim financial relief in England.