The ex-wife of a multi-millionaire has gone to court to claim a share of the value of a number of companies based in Luxembourg, claiming that her former husband’s transfer of assets did not remove them from his beneficial ownership.
The assets, said to be worth more than £7 million, were transferred to Luxembourg by her Monaco-based financial trader ex-husband in 2006. She claims that the transfer was a sham designed to place his assets into an offshore vehicle.
A ruling from the court is expected soon. The case, which is already said to have cost more than £1 million in legal fees, is the latest in a series of cases in which spouses have sought to unscramble complex financial arrangements in an acrimonious divorce.
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Reported in the Daily Telegraph, 15 October 2010.