Eurocopter seized and sold in UK’s largest divorce settlement

A helicopter at the centre of the largest divorce settlement in UK history has been sold for €5 million (euros). The Eurocopter EC155 helicopter (registered as M-LVNA Fairoaks) was formerly the property of Lucy Ltd, a company registered in the Isle of Man.

The sale was made as a result of a continuing legal battle between Russian billionaire, Farkhad Akhmedov, and his ex-wife Tatiana Akhmedov. Lucy Ltd was a company utilised by Mr Akhmedov.

In 2016 England’s High Court of Justice ruled that Mr Akhmedov pay Ms Akhmedov £453 million as part of a divorce settlement. The decision ordered by the High Court was the largest in UK history. Mr Akhmedov had always strongly resisted the judgement arguing they had divorced in Moscow in 2000.

In 2017, the helicopter was seized when landing at an airport near Bodrum, Turkey. Bailiffs acting to enforce Ms Akhmedov’s 2016 matrimonial award instructed pilots to move the helicopter into nearby Greek airspace before a lengthy journey back to the Isle of Man.

Before its seizure and sale, the Eurocopter was used by Mr Akhmedov for travelling to and from his superyacht, Luna.

The yacht is itself currently being held in Dubai after a court refused to recognise England’s High Court decision and declared Mr Akhmedov as the owner. However, Akhmedov’s lawyers were unable to convince authorities to allow him to remove Luna and she remains under an international arrest warrant in Port Rashid.

Jonathan Wild, an attorney with Callin Wild LLC and Ms Akhmedov’s lawyer in the Isle of Man, said:

“The net has been closing on Mr Akhmedov for a while now, and the sale of this helicopter proves that our enforcement methods are not just working but bearing fruit. We have a long way to go until the full judgement debt is satisfied but we move closer to seizing and beginning to liquidate the remaining assets every day.”

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