Bloomberg News

Rybolovlev’s Wife Amends $88 Million NYC Apartment Complaint

May 17, 2012

Russian billionaire Dmitry Rybolovlev’s wife filed an amended complaint in her lawsuit over the $88 million purchase of a Central Park West penthouse in Manhattan from former Citigroup Inc. (C:US) Chairman Sanford Weill.

Elena Rybolovleva sued Rybolovlev in March in New York state Supreme Court in Manhattan, accusing him of fraudulently transferring property acquired during his marriage in violation of a Swiss court order. The amended complaint, filed May 14, adds their daughter, Ekaterina, and several unidentified trusts.

The property holding company “is a sham entity which has no legitimate business purpose” except “to secrete assets acquired during the marriage and place them out of the reach” of his wife, according to the filing.

Weill paid about $42 million for the apartment in 2007, according to Internet data from public records. The 6,744 square-foot (627-square-meter) apartment has 4 bedrooms and 6 1/2 bathrooms, the records show.

Rybolovlev, who ranked number 100 on Forbes Magazine’s 2012 list of the world’s billionaires with a net worth of $9 billion, is the former owner of fertilizer maker OAO Uralkali.

Rybolovlev and his spokesman Alan Basiev, couldn’t immediately be reached for comment at their Moscow office, where nobody answered the telephone after business hours today.

A company associated with the billionaire’s daughter, a student, bought the condominium in February, Basiev said in December. She stays at the apartment when visiting New York, Basiev said.

Filed for Divorce

Elena Rybolovleva filed for divorce in Geneva in December 2008, and the court later imposed a provisional freeze on shares and assets of Rybolovlev. She’s seeking an order to put the property in trust.

Rybolovleva also sued her husband in Florida in 2008 over a house he purchased from Donald Trump in Palm Beach for $95 million, which at the time was the most expensive house in the U.S., according to that lawsuit.

The case is Rybolovleva v. Rybolovlev, 102168/2012, New York state Supreme Court (Manhattan).

To contact the reporters on this story: Phil Milford in Wilmington, Delaware, at pmilford@bloomberg.net; Dawn McCarty in Wilmington, Delaware, at dmccarty@bloomberg.net

To contact the editor responsible for this story: Andrew Dunn at adunn8@bloomberg.net


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