Russian Millionaire Looses Luxurious Property in a Legal Battle

on Sep 18, 2012

On 17 September Russian multimillionaire Vladimir Slutsker, a close peer of billionaire Vladimir Abramovich, lost a battle in the High Court against his ex-wife Olga Slutsker for a share in a luxurious £40 million London home.

Mrs Slutsker started her health and fitness clubs empire in 1993 using her husband’s money and invested the profits in the property in the Boltons – London’s second most expensive street after Kensington Palace Gardens. According to what was told at the court’s hearing, the family purchased the house after an attempt was made on Vladimir Slutsker’s life in Russia.

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According to Russian law, the millionaire is entitled to a 50 percent share of any property, which was jointly bought during the marriage. Mr Judge Underhill however said the house belongs to Mrs Slutsker and her children as it is solely in her name. It is possible that given the sensitive situation of Russian politicians owning offshore assets, the millionaire preferred to leave no “paper trail” that would link him to the house. Both Vladimir Slutsker and his ex-wife were reluctant of disclosing specific data on their finances. The property was supposed to be held on trust for the children of the ex-couple under the provisions of a trust deed, meaning Mr Slutsker would have no access to its capital value.

Mr Slutsker has been having quite a lot of trouble with journalists in the past few years. In 2009 he managed to win a court battle and jail for eight years a journalist who was trying to extort him. In 2006, a Russian newspaper posted an article with photos of Mr Slutsker’s London home and a copy of the Land Registry entry, seeking to embarrass him in his home country.


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