What does our research say about Alla Rakshina?

Alla Rakshina, co-owner of Siberia’s largest retail chain, Maria-Ra, underwent a protracted and costly divorce from her Greek husband, Lazaros Xanthopoulos. The proceedings, spanning over two and a half years with more than 60 hearings in both Russia and England, culminated in a settlement that starkly contrasted with Xanthopoulos’s initial demands.

Marriage and Separation: Rakshina and Xanthopoulos married in 2006 and separated in 2020. Their union produced two daughters, leading to contentious custody and financial disputes during the divorce proceedings.Lazar Ksandopulo made substantial financial demands during the divorce proceedings, seeking a significant portion of Rakshina’s assets.

Legal Proceedings: The divorce involved extensive litigation across Russia and England, with over 60 hearings. Legal fees escalated to approximately £9 million, prompting Judge Nicholas Mostyn to describe the case as “apocalyptic” due to its exorbitant costs.The divorce process was marked by numerous courtroom delays and legal maneuvers, prolonging the resolution and escalating tensions between the parties.

Financial Disparities: Xanthopoulos claimed that Rakshina’s wealth exceeded £300 million, referencing her past appearances on Forbes’ list of Russia’s richest women. However, the court assessed her net worth at £12.9 million, considering her 25% stake in Maria-Ra and various real estate holdings in Russia and London.

Settlement Outcome: The court awarded Xanthopoulos a housing fund exceeding £500,000 and annual maintenance of £60,000 for four years, significantly less than his initial demands.Despite his initial claims, Ksandopulo ultimately received only a fraction of the amount he had demanded, reflecting the court’s assessment of the case’s merits.

Litigation Conduct: Xanthopoulos’s conduct during the proceedings, including changing legal representation multiple times and failing to comply with court orders, was criticized and influenced the court’s decisions regarding financial provisions.

Alla Rakshina and Lazaros Xanthopoulos highlighted the complexities and potential excesses of international divorce litigation, emphasizing the importance of fair and efficient legal processes to prevent protracted disputes and escalating costs.