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15/01/2010
Divorce settlement challenged |
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A multi-million divorce settlement faces a legal challenge after an ex-wife decided to contest the judgement that she should pay her former husband to cover money he lost in the credit crunch.
Elena Marano - an heiress from the Kransco toys empire that produced the Frisbee and hula hoop - was ordered to pay the money to ex-husband Peter after he saw the value of his property assets plunge in the economic crisis, the Daily Telegraph reports.
This had left his two London assets in negative equity and the court ordered Ms Marano to pay £5 million extra after equally dividing the couple's £18.8 million assets.
Ms Marano has been back in court contesting the judgement, with the outcome potentially having implications for other large divorce settlement cases where the assets of one party have been diminished.
Those facing a marital break-up where large amounts of money will be involved may benefit from speaking to a divorce lawyer.
Another case may determine the extent of the right of one party to investigate the finances of another, after celebrity chef Marco Pierre White launched a lawsuit against his ex-wife's lawyers over her interception of mail containing details of his finances.
Written by Laurence Smith
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