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£20 million divorce settlement

In November 2013, a court ordered Scot Young, a billionaire tycoon who claims to be bankrupt, to pay his estranged wife a £20 million settlement.
The case, which had already been in court for six and a half years, cost Mrs Michelle Young an ‘eye-watering’ £6 million in legal fees, and looks likely to set the record for one of the most expensive divorces in the UK.
Mrs Young refutes her estranged husband’s claims of bankruptcy and claims that he has billions of assets squirrelled away offshore.
While the vast majority of couples lack access to the financial sums wielded in the Youngs’ divorce, the principles underlying their case are the same. In many divorces, tensions are running high, as are emotions. Each party wants to receive what they are entitled to in the divorce settlement. But the process to achieve this can be frustratingly slow, painful and acrimonious.
In all cases, each party is losing their spouse and ending their marriage. However, when children are involved, the dynamics of the divorce become even more complex, as the family has effectively broken down and, with the children in the middle, the cost is much higher, especially when a battle over Residence or Contact is thrown into the mix.
In his ruling on the Youngs’ divorce, the judge, Mr Justice Moor, said that it was ‘undoubtedly the most difficult financial remedy case’ he had ever come across. ‘This case has been extraordinary even by the standards of the most bitter matrimonial breakdowns. Extremely serious allegations have been bandied around like confetti,’ he said.
However, it need not be that way. Divorce is a highly delicate issue, and with the sensitivity and skill of an experienced family lawyer you can achieve a good outcome without incurring huge cost, both financially and emotionally.
 

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