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21/12/2009
Estranged wife wins divorce case |
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The estranged wife of a property tycoon has been awarded £27,500 per week from his estate, despite his claim that he was broke.
Scot Young had claimed that the £400 million fortune he amassed had all gone due to the credit crunch.
However, he had to provide full details of his finances under threat of jail from the High Court judge, following which the order was made for him to provide the payments.
The money will be used to cover maintenance and rent, with Ms Young looking after the couple's two daughters.
Although the amount was less than Ms Young claimed, the figure will be reviewed next year, which could lead to it being revised upwards.
Those facing a marital break-up that could involve large amounts of money may wish to engage the services of a divorce lawyer at an early stage to prepare their case.
People with substantial wealth might wish to ensure any future marital break-up is dealt with more easily with a prenuptial agreement.
Proposition director of insurance firm Bright Grey Roger Edwards noted in an article he recently wrote for the Financial Times that such devices are becoming increasingly common in Britain.
Written by Anthony Dyson
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