Russian billionaire losing his $500 million 114-metre megayacht Luna in divorce battle

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Magomed Khamatkhanov
April 20, 2018

Luna is a 114.2-metre superyacht built by Lloyd Werft and delivered to Roman Abramovich in 2010. In 2014 the yacht was sold to Azerbaijani billionaire Farkhad Akhmedov for €240,000,000. In 2015-2016 Luna had a €50,000,000 refit. Works included a new paint job, fairing of the hull for the first time, 2 meter lengthening to improve the balance of the yacht. The spa area and beach club were also refitted, larger windows were added for more light coming in. All the engines were overhauled, plus all the tenders were replaced. In February 2016 Luna left Bremerhaven, with first destination Norway. In the winter of 2017/2018 Luna was sent to Dubai for additional works.  

Luna is the second largest expedition yacht in the world and has an anti-missile system, a mini-submarine and a 20-metre swimming pool.

A court in London ruled the arrest of a half-billion dollars yacht Luna owned by a Russian billionaire Farkhad Akhmedov, as a result the divorce payout between him and his ex-wife. The court ruled that businessman should transfer ownership of the 114-meter Luna, currently seized and stored in a dry dock in Dubai, UAE to his ex-wife, Tatiana Akhmedova. Judge said that Akhmedov tried to cover up his ownership of the Luna behind a scheme with a group companies and relocated the ship to Dubai.

Judges in London courts generally splits the assets 50/50 in high-stakes divorce cases, giving equal weight to the work of a wealth creator and a homemaker. In the final days of the court procedures, the billionaire changed his ownership of the Luna to another of his companies. The transactions were done to cover up billionaire’s assets in a web of offshore companies and defeat Akhmedova. According to the judgement, Luna has a value of £346 million.

"Any idea that the yacht can be sold or handed over to Mrs. Akhmedova is fanciful," Akhmedov said. "For that to happen - by the time all legal procedures were exhausted - would take years. By then the yacht could have depreciated." Akhmedov, who refused to take part in the UK trial and moved back to Russia, has allegedly moved his modern art collection valued at £90.5 million to Lichtenstein. The judge said that they needed to move quickly to enforce the order over the boat. Akhmedov "has over the past 18 months repeatedly demonstrated a willingness to take rapid and multifarious steps to evade enforcement at every turn."

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