A divorce battle that has been ongoing for seven years has finally ended.
Michelle Young has been awarded a £20m lump sum after a gruelling court battle against her former husband, the businessman, Scot Young.
The award equates to 50% of his net assets.
Mr Young claimed to have lost his multimillion pound fortune leaving him bankrupt and with debts of £28 million. The judge found that it was impossible to estimate Mr Young’s assets with any precision, however, after considering the evidence he calculated what he felt his fortune was likely to amount to.
Mr Young’s continued lack of disclosure and the complexity of his finances lead to Mrs Young having to borrow money to fund the litigation. She has spent an estimated £6.4 million on legal costs. Mr Young represented himself. The final hearing lasted a staggering 20 days.
Nicola Whitley, specialist divorce Solicitor at Swain & Co says,“The circumstances of this case are very rare, however, it is a good reminder of the importance of settling issues amicably and out of Court. Mr and Mrs Young have had their affairs aired to the public which must be quite unpleasant.”