An expatriate multi-millionaire has been ordered to pay his ex-wife the sum of £2 million in one lump and £300,000 towards her legal costs or face jail.
They had a seven year marriage in which they both built a profitable business in the Middle East. Since the divorce he only paid her only ‘in dribs and drabs’ yet owed her over £2 million in her entitled financial settlement. His lack of payment, he claimed, was lack of money however he still drove around in a Lamborghini and frittered away huge sums of money on jewellery, watches, cars and other luxury items. His wife, on the other hand, was descending into poverty and was forced to sell her home after returning to the UK.
The ex-wife’s barrister said, “This is a case of outrageous and defiant disobedience of the Court’s order. It is clear that the husband continues to lead a lavish lifestyle and that his claims of poverty are hollow. He has given severely deficient and dishonest evidence to the Court in an effort to defeat his former wife’s claim and has refused to pay more than a token sum. The consequences for the wife have been profound.”
After hearing evidence of the man’s spending habits, the Court held him in contempt and found that he was capable of meeting his debt to his ex-wife. He was forced to sell two overseas businesses to raise funds was hit with a six-week jail term, suspended for three months to give him time to come up with the money.
Financial matters in divorce can be difficult, even if you feel that you can agree between both parties how it will be split, it is important to get the correct information. Consideration for the marital home, pensions, maintenance and any savings or debts must be considered and the percentage often varies depending on a number of influencing factors. We can speak to you confidentially at our office in Ipswich, Felixstowe or Hadleigh for a fixed fee.