Multi-million divorce award
Posted: 8th November 2012
A ‘very rich’ businessman has been ordered to pay his ex-wife a lump sum of £4 million, plus £150,000-a-year for the rest of her life, to finalise their divorce. The former couple had enjoyed a ‘very affluent lifestyle’ during their 11-year marriage and the periodical payments are to fund the ex-wife’s expenses, including clothing, beauty treatments, domestic help and pets.
Ruling on the case, High Court judge, Mrs Justice Baron, noted that the woman is in a ‘perilous’ state of mental health and is unlikely ever to be able to work. Although she had ‘wanted for nothing’ during the marriage, she is suffering from depression and has ‘retreated from the world’ to a £2.5 million London flat.
The former couple, both Muslim, had their main home in Jeddah, Saudi Arabia, the use of a Saudi beach house, described by the woman as ‘like a five-star hotel’, as well as property in London. The judge said that she had no doubt they had been a ‘dashing couple’ during their marriage: the woman had enjoyed a clothing allowance of £10,000 per month as well as receiving ‘lavish’ gifts, including a diamond-encrusted watch and a £28,000 necklace to ‘mark the end’ of the marriage.
The woman had sought a lump sum of £7 million; however her ex-husband argued that that was a sum which he ‘simply could not afford’. He had agreed to transfer the £2.5 million flat into the woman’s name and had offered a lump sum of £1.5 million, plus maintenance of £10,000-a-month. However, the judge said that the man’s failures in respect of disclosure of his assets had been ‘woeful’. She estimated his annual income at more than £500,000 and said that he had used money as a ‘form of weapon’ in the divorce proceedings.