Latest news with #Kroupeev
Straits Times
6 hours ago
- Business
- Straits Times
Russian oligarch faces jail for contempt in acrimonious UK divorce case
LONDON - A Russian oil tycoon faces a potential jail term after a judge at the High Court in London on Wednesday ruled he was in contempt of court for repeatedly failing to comply with legal rulings made in his bitter multi-million dollar divorce case. Mikhail Kroupeev, the non-executive chairman of energy company Gulfsands, had not complied with orders made by the court after the collapse of his 36-year marriage to his wife Elena Kroupeeva, judge Richard Harrison said. According to submissions from her legal team, the couple separated in "tempestuous" circumstances after Kroupeeva discovered in 2023 her husband had for most of the last 20 years been living a double life with a secret second family in Russia. She began proceedings for a financial settlement in July 2024, and Kroupeev was ordered to pay just over 195,000 pounds ($262,645) towards her legal fees. But her lawyers said he had failed to comply with that and a series of other orders demanding he reveal the true extent of his wealth that they said could be hundreds of millions of pounds, of which she was demanding an equal share. They said only prison would be an effective punishment. The judge said he was satisfied that Kroupeev, who attended the hearing remotely from Cyprus, had deliberately breached orders and was in contempt of court. He adjourned sentencing until next Wednesday, with the oil magnate facing a maximum jail term of just over two years. The couple, who are both Russian nationals but have British citizenship, moved to Britain in 1993. Kroupeev's other business interests included Jupiter Energy, which is involved in oil and gas exports in Kazakhstan, and Waterford Finance which specialises in energy projects. "They have been a very wealthy family for a very long time," Justin Warshaw, Kroupeeva's lawyer told the court. The couple's assets were extensive, including a 15 million pound house in London, luxury homes in Portugal and Turkey, properties in Russia worth 10 million pounds, Warshaw said. They flew by private jet so their pet dogs could travel with them. Warshaw said Kroupeev owed his wife more than 837,000 pounds in total, while a freezing order had also been made covering 38 million pounds of his assets. Kroupeev's lawyer Michael Glaser said his client, who denied the allegations about their marriage, apologised for not complying with the orders, and had been unable to because of the freezing order. He rejected Warshaw's assertion that his client had treated the court proceedings as a game. "This is not a game, the liberty of my client is at stake," Glaser said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
9 hours ago
- Business
- Yahoo
Wife of Russian oligarch asks UK court to jail him over unpaid legal fees
By Michael Holden LONDON (Reuters) -The wife of a Russian oil tycoon asked a judge at the High Court in London on Wednesday to jail her husband, alleging he had repeatedly failed to pay her legal fees in their multi-million dollar divorce case. Mikhail Kroupeev, the non-executive chairman of energy company Gulfsands, is accused by his wife Elena Kroupeeva of refusing to comply with numerous courts orders following the collapse of their 36-year marriage. According to submissions from her legal team to the court, the couple separated in "tempestuous" circumstances after Kroupeeva discovered in 2023 her husband had for most of the last 20 years been living a double life with a secret second family in Russia. She began proceedings for a financial settlement in July 2024, and in February, Kroupeev was ordered to pay just over 195,000 pounds towards her legal fees. But her lawyers said he had failed to comply with that and other subsequent orders demanding he reveal the true extent of the wealth from his business empire. He now owed her more than 837,000 pounds, they said, while a freezing order had also been made covering 38 million pounds ($51 million) of his assets. Her lawyers said the judge should now issue an order for his imprisonment for contempt of court. "It is suggested that nothing short of a period of imprisonment will be an effective punishment," her lawyers said in their court submission. Kroupeev's lawyer Michael Glaser said the allegations about their marriage and alleged affairs should not have been made. "Not only are they not relevant, they are denied," he told the court, saying the contested court order was subject to an appeal. However, the judge rejected his attempt to have the case adjourned. The couple, who are both Russian nationals but have British citizenship, moved to Britain in 1993. Kroupeeva's lawyer Justin Warshaw said Kroupeev had made his fortune through his connections with Yuri Shafranik, a former Russian energy minister. As well as Gulfsands, which Kroupeeva's lawyers said had a contract to export oil from Syria, his business interests included Jupiter Energy, which is involved in oil and gas exports in Kazakhstan, and Waterford Finance which specialises in oil, gas and other energy projects. "They have been a very wealthy family for a very long time," Justin Warshaw, Kroupeeva's lawyer told the court, saying they lived an "opulent lifestyle". The couple's assets were extensive, including a 15 million pound house in north London, luxury homes in Portugal and Turkey, and a portfolio of properties in Russia worth 10 million pounds, her lawyers said. The couple also took luxurious holidays that involved flying by private jet, they said. "A large motivation for travelling privately would be to ensure that the family dogs could go on holiday with the family," her legal team said in their submission. While Kroupeeva was in court on Wednesday, her husband, who is in Cyprus, attended remotely by videolink. The hearing continues. ($1 = 0.7432 pounds)
Straits Times
10 hours ago
- Business
- Straits Times
Wife of Russian oligarch asks UK court to jail him over unpaid legal fees
LONDON - The wife of a Russian oil tycoon asked a judge at the High Court in London on Wednesday to jail her husband, alleging he had repeatedly failed to pay her legal fees in their multi-million dollar divorce case. Mikhail Kroupeev, the non-executive chairman of energy company Gulfsands, is accused by his wife Elena Kroupeeva of refusing to comply with numerous courts orders following the collapse of their 36-year marriage. According to submissions from her legal team to the court, the couple separated in "tempestuous" circumstances after Kroupeeva discovered in 2023 her husband had for most of the last 20 years been living a double life with a secret second family in Russia. She began proceedings for a financial settlement in July 2024, and in February, Kroupeev was ordered to pay just over 195,000 pounds towards her legal fees. But her lawyers said he had failed to comply with that and other subsequent orders demanding he reveal the true extent of the wealth from his business empire. He now owed her more than 837,000 pounds, they said, while a freezing order had also been made covering 38 million pounds ($51 million) of his assets. Her lawyers said the judge should now issue an order for his imprisonment for contempt of court. "It is suggested that nothing short of a period of imprisonment will be an effective punishment," her lawyers said in their court submission. Kroupeev's lawyer Michael Glaser said the allegations about their marriage and alleged affairs should not have been made. "Not only are they not relevant, they are denied," he told the court, saying the contested court order was subject to an appeal. However, the judge rejected his attempt to have the case adjourned. The couple, who are both Russian nationals but have British citizenship, moved to Britain in 1993. Kroupeeva's lawyer Justin Warshaw said Kroupeev had made his fortune through his connections with Yuri Shafranik, a former Russian energy minister. As well as Gulfsands, which Kroupeeva's lawyers said had a contract to export oil from Syria, his business interests included Jupiter Energy, which is involved in oil and gas exports in Kazakhstan, and Waterford Finance which specialises in oil, gas and other energy projects. "They have been a very wealthy family for a very long time," Justin Warshaw, Kroupeeva's lawyer told the court, saying they lived an "opulent lifestyle". The couple's assets were extensive, including a 15 million pound house in north London, luxury homes in Portugal and Turkey, and a portfolio of properties in Russia worth 10 million pounds, her lawyers said. The couple also took luxurious holidays that involved flying by private jet, they said. "A large motivation for travelling privately would be to ensure that the family dogs could go on holiday with the family," her legal team said in their submission. While Kroupeeva was in court on Wednesday, her husband, who is in Cyprus, attended remotely by videolink. The hearing continues. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
