Wednesday 25 July 2018

Dubai Shariah court to decide fate of $460m super-yacht Luna

Dubai Shariah court to decide fate of $460m super-yacht Luna:

Dubai’s judicial authorities have ruled that a controversial case involving the $460 million super-yacht Luna must be decided in a UAE Shariah court and not in the Dubai International Financial Center’s common-law courts system.

Ownership of the yacht — once the property of billionaire Russian oligarch Roman Abramovich — is a key part in bitter divorce proceedings between wealthy Azerbaijan-born businessman Farkhad Akhmedov and his former wife Tatiana Akhmedova.

The super-yacht was impounded by DIFC courts while docked in the UAE for maintenance after a London court handed it to Akhmedova as part of a £453 million ($600 million) divorce settlement in 2016.

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