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Court of Appeal Clears Potanin’s Ex-Wife to Pursue Multi-Billion Claim Over Nornickel Stake

The decision sends her claim to the High Court for a full hearing based on a meaningful connection to England.

Overview

  • The Court of Appeal granted Natalia Potanina leave under Part III to seek financial relief in England, remitting the case to the Family Division for a substantive hearing.
  • Her claim targets 50% of Vladimir Potanin’s ultimate beneficial interest in Nornickel shares, 50% of dividends paid since 2014, and a high-end Russian property on which the couple spent about $150 million.
  • Judges said she has a real and meaningful connection to England and was habitually resident, highlighting a significant gap between her Russian award and what might have been available in this jurisdiction.
  • The case has seesawed through the courts: a High Court rejection in 2019, a Court of Appeal revival in 2021, a Supreme Court procedural remittal in January 2024, and now a renewed grant of leave.
  • Potanin is under sanctions in the UK, US and other countries, complicating enforcement, and legal commentators say the ruling may encourage more overseas spouses to test English courts as a forum, with further appeal still possible.