Rachel Weldrake, Family Law Solicitor, Tayntons LLP, Gloucester on multi-millionaire's attempts to avoid claim by wife

16th March 2011 10:54

Rachel Weldrake, Family Law Solicitor, Tayntons LLP, Gloucester followed the widely reported story this week that the wife of multi-millionaire Boris Agrest has won her case in the  Court of Appeal to uphold an earlier ruling that her husband’s attempt to sell a valuable property to reduce her claims on him on divorce were a sham. 

Janna Kremen (aged 43), a former Russian military intelligence service worker, married international financier, Boris Agrest, (aged 51), in 1991. They lived together at their estimated £4 million home  - an exclusive golf estate in  Weybridge, Surrey - until their marriage came to an end in early 2007. In May 2007 the husband made it perfectly clear that it was his intention to render his wife and the children utterly destitute.

The ruling means that a property worth a reported £800,000 can now be added to the ‘matrimonial pot’ that the wife is pursuing. The wife estimates her husband's fortune is worth anywhere between £500 million and £700 million. The reported figures vary considerably but on any account this is a “big” money case.

In the earlier ruling, Sir Nicholas Wall said that Mr Agrest had done his best to divest himself of any assets which could be the subject of a claim by his wife. 

Rachel Weldrake, Family Law Solicitor, Tayntons LLP, Gloucester points out that transparency so far as assets are concerned, is a fundamental part of dealing with finances on divorce.  Both parties to the marriage are under a duty to the court to give full, frank and clear disclosure of all their financial and other relevant circumstances.

Failure to give full and accurate disclosure may result in any order the court makes being set aside. If a party to the marriage is found to have been deliberately untruthful criminal proceedings may ensue under the Fraud Act 2006 and if the information is given under oath the person will have committed perjury. 

In the majority of cases people are entirely honest about their financial affairs which means that armed with all the relevant information a financial settlement can be concluded. 

It is often easy to identify those cases where one party is trying to conceal assets by transferring them to a third party or dispose of them in some other way.  In such cases, the court has a wide range of weapons in its armoury. If there is advance notice a court can grant an injunction to prevent the disposal or the court has the power to set aside a disposal which has already been  made. 

For advice on all family matters including financial relief contact Rachel Weldrake, Solicitor, a member of Resolution and the Law Society’s accredited Family Law Panel on 01452 509878 or rachel.weldrake@tayntons.co.uk