Russian billionaire reaches amicable divorce settlement

Russian billionaire Dmitry Rybolovlev and ex-wife Elena, formerly embroiled in a messy and acrimonious divorce involving lawsuits and bitter accusations, have reached an amicable divorce settlement, they announced on Tuesday.

“Dmitry and Elena Rybolovlev announce that they have reached an agreement on the terms of their divorce,” a statement said.

“As part of the settlement, both parties have agreed to terminate all legal proceedings in the divorce case and the ancillary proceedings in any jurisdiction whatsoever and to definitely withdraw all claims against each other, as well as related parties and entities.”

“Mr and Mrs Rybolovlev are happy both with their agreement and with the end of what has been a difficult time for them and their family.”

Rybolovlev, formerly the biggest shareholder in the Bank of Cyprus with close to 10 per cent of its shares, as well as substantial deposits in the lender, was accused of cheating by Rybolovleva in 2008, when she filed for divorce after 23 years of marriage.

She subsequently accused him of ‘hiding’ his assets in obscure trust funds to trick her out of her share of the settlement, and filed a lawsuit.

In February 2014, Rybolovleva made headlines after being detained and questioned by police upon arrival to Cyprus in connection with the alleged theft of a diamond ring believed to be worth $25 million.
Rybolovlev’s spokesmen said the diamond case had nothing to do with him.

The Russian billionaire made much of his fortune from the 2010 sale of his stake in fertiliser company Uralkali for $6.5 billion.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.