Russian's ex-wife has "unfair" post-nup struck out
23 January 2012
The England & Wales High Court has
overridden a post-nuptial agreement made between Russian
businessman Boris Agrest and Janna Kremen, on the grounds that the
agreement was "grossly unfair" on her.
The two had signed the marital agreement in
Israel in 2001, ten years after their marriage (although Mr. Agrest
claims that the marriage ceremony was invalid). It limited the
former Mrs Agrest's entitlement to a maximum of $1 million - about
GBP1 million.
But last week Mostyn J decided she had not
entered into the agreement with a full appreciation of its
implications. "While [she] would have understood the literal words
of the agreement she did not know what rights under English law she
was foregoing by the agreement", he said in the judgement. "Her
agreement was therefore not an informed one [and] it would be
grossly unfair to hold her to an agreement which deprived her of
her fair share of a fortune".
Instead he awarded her a capital sum of
GBP12.5 million. This, he calculated, was what she required to meet
her reasonable needs and those of her children, who are at various
prestigious private schools and universities. The sum represents
GBP8.3 million in maintenance and a GBP4.2 million share of Mr.
Agrest's assets.
The ancillary relief litigation, which
probably still has some way to run, has been long and complex. In
February last year, the EWHC set aside as a sham two property
disposals made by Mr. Kremen while the relief proceedings were
under way.
Ms Kremen now has to obtain possession of the
assets she has been awarded. Most of them are held in offshore
trusts - if they exist at all, which Mr. Agrest denies. Mostyn J
noted that there have been already a number of judicial findings
that Mr. Agrest is "a serious and serial non-discloser who is
determined to do down his [ex] wife by foul means".
Mr. Agrest did not attend the hearing,
pleading poverty, and was represented by a McKenzie Friend. He is
also facing litigation from two former business contacts, including
a demand for $10 million to settle an alleged debt.
Sources
Telegraph
BAILII