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22/06/2009
New family court law sees divorce details revealed |
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The new law allowing divorce details to be made public has seen information about the case of a tycoon made available.
Scot Young, a deal fixer for rich British and Russian businessmen, has had to face the public disclosure after a judge ordered his passport be seized until he explains the whereabouts of his £400 million fortune, much of which he is due to lose in a settlement.
Mr Young, who has claimed he is penniless, could face jail if he does not reveal where the money is.
Those facing a marital break-up may wish to speak to a divorce solicitor in order to resolve issues of disputed financial means before they come to court, which could avoid a public disclosure or the threat of further action.
Prenuptial agreements may be one way of dealing with such issues ahead of time.
Earlier this month a report by chartered accountants Grant Thornton noted that these have been on the rise in the recession as people seek to protect their assets.
Written by Laurence Smith
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