Wife wins 'biggest' divorce award

Discussion in 'Chit Chat' started by Optionpro007, Aug 3, 2006.

  1. Wife wins 'biggest' divorce award
    An insurance magnate has been ordered by the High Court to pay his former wife £48m in what is thought to be the biggest divorce award in legal history.
    John Charman, 53, had offered Beverley, 52, their home in Sevenoaks, Kent, and £6m after their marriage ended in 2003.

    On Thursday, he said he would appeal against the ruling which was made in private last week in the Family Division of the High Court.

    The sum awarded to Mrs Charman includes £8m in assets already in her name.

    In a statement issued by Mr Charman and his solicitors, the 53-year-old said the award was "unfair and unreasonable".

    He said he had made a fair and open offer to his wife of £20m, which would be "impossible for any reasonable person to spend in their lifetime".

    Businesses in Bermuda

    The couple, who have two children, were married in 1976 when neither had significant resources.

    Mr Charman went on to have a successful career and build up considerable wealth in the insurance market in the City of London.

    His statement said Mr Justice Coleridge accepted Mr Charman's exceptional contribution to the marriage.

    Mr Charman had set up the Dragon Trust in Bermuda in 1987 which had assets worth £68m.

    He set up Axis, a global insurance and reinsurance company based in Bermuda, after the 9/11 attacks in New York.

    But in early 2003, he moved permanently to Bermuda and separated from his wife who remained in England.

    She issued a petition for divorce in June 2004, which included an application for financial settlement, known as ancillary relief.

    The judge has ridden roughshod over a decision made nearly 20 years ago

    John Charman

    In 2005, Mr Justice Coleridge had refused Mr Charman's application for a stay of his wife's petition.

    Mr Charman had argued his wife should be awarded substantially less than an equal share because of his contribution, and his "importance in the global insurance market".

    He wanted the Dragon Trust assets left out of account because they were for the long-term benefit of members of his family and he did not have control of those assets.

    He said: "The judge has ridden roughshod over a decision made nearly 20 years ago during the marriage, to place assets in trust for future generations."


    http://news.bbc.co.uk/2/hi/uk_news/england/kent/5242294.stm
     
  2. they are really behind the times in jolly old england.

    biggest divorce settlement of all time?! LOL !!

    surf
     
  3. :D

    i think it was ... Rupert Murdoch to the tune of 1 bill
     
  4. That must be some piece of azz that worths 48m.
     
  5. No more extra cheese on his waffles.....:D
     
  6. Pekelo

    Pekelo

    Here is a list:

    http://www.askmen.com/toys/top_10_60/74_top_10_list.html

    Note: This article was published before Harrison Ford's ex-wife, Melissa Mathison, was awarded $118 million in January 2004.

    The winner is : Anna Murdoch

    "They split amicably in 1998 but soon Rupert forced Anna off the board of News Corp and the gloves came off. The divorce was finalized in June 1999 when Rupert agreed to let his ex-wife leave with $1.7 billion worth of his assets, $110 million of it in cash. Seventeen days later, Rupert married Wendi Deng, one of his employees."