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The UK court has ruled that Potanin’s ex-wife, who is the Russian oligarch Potanin, can file a massive divorce claim.

The ex-wife of Russian oligarch Vladimir Potanin can continue to pursue a multibillion-dollar share of his Nornickel stake, the Court of Appeal in London ruled Thursday. This could be one of most expensive divorce cases brought.

Potanin is the CEO of Norilsk Nickel, which is the world's biggest palladium producer. It also produces a lot of refined nickel. His ex-wife Natalia Potanina has filed a massive divorce suit against him.

Potanina is seeking financial relief after their divorce, which was finalized in 2014. She wants 50% of the value her ex-husband’s ultimate beneficial interests in Nornickel shares.

Potanina also wants 50% of all dividends paid by Potanin to Potanin between 2014 and now, as well as a luxury Russian property on which they spent $150 million.

Her lawyers claim she only received $41.5 million after the divorce. This is less than 1% the total assets of the couple. Potanin, however, claimed that his ex-wife had received $84 million. He also argued that the couple did not have any connection with Britain.

Potanina initially failed to get her case heard by the London High Court in 2019. A judge said that if she was permitted to continue, "there is no limit to divorce tourist".

On Thursday, the Court of Appeal reversed that decision.

"The wife's ties to Russia were severed in a very large way, as evidenced by the court." The court ruling stated that her connection to Russia was becoming increasingly tenuous.

The discrepancy in her awarding of marital assets compared to the husband's share was significant. It was also significant that she recovered less in Russia than she would have had she been heard by this court. Reporting by Michael Holden, Sam Tobin and William James.

(source: Reuters)