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| News » Divorce Law » Fund manager divorce settlement challenged |
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12/03/2009
Fund manager divorce settlement challenged |
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A City of London fund manager has gone to court to launch a retrospective challenge to his divorce settlement after the credit crunch wiped out the bulk of his wealth.
Brian Myerson was ordered to pay his ex-wife £9.5 million in cash from his fortune of over £25 million last February.
However, since that time his shares have lost 90 per cent of their value and he has gone to the court of appeal to contest the size of the payout.
Such a case may indicate the need for those divorcing to ensure they have the right legal arrangements in place to deal with subsequent changes in circumstance.
In other divorce news, Formula One boss Bernie Ecclestone could face a record divorce settlement after failing to contest his wife's petition based on a claim of unreasonable behaviour.
The motor racing chief may now face losing a large part of his £2.4 billion fortune after wife Slavica was granted a decree nici in the high court.
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