18 July 2013
Britain’s biggest Divorce settlement?
Currently Britain’s biggest divorce settlement was seen in 2008 when £48million was awarded to Beverly Charman upon the divorce of her husband John Charman. However recent divorce proceedings between Pauline Chai and Khoo Kay Peng are set to rival this with a settlement of up to £500million.
After 42 years of marriage it is reported that Pauline Chai, a former Miss Malaysia, filed for divorce in February on the grounds of ‘unreasonable behaviour’, and is seeking half of Khoo Kay Peng's fortune, which has established him as one of Malaysia’s wealthiest businessmen.
The case commenced in the London High Court on 4/07/13, however Dr Khoo is requesting that the case be heard in Malaysia, his home country, where he would not be required to split his fortune 50/50. Ms Cha, who has been living in their £30million home in Hertfordshire since October, opposes this saying that she now lives in England and feels she is entitled to the English justice system.
Dr Khoo’s lawyers argued that hearing the case in Britain would further ‘the ill-gotten reputation of this country for being the divorce capital of the world'. Also that, as the law stands, a person is required only to have lived in the UK for six months before being able to apply for divorce and that allowing the case may allow people to come to England for such a period to then initiate a divorce.
Dr Khoo has a substantial fortune, established over the past 40 years from various business ventures. However, as many of Dr Khoo’s assets are apparently owned by the companies in which he is involved, how much Dr Khoo is actually worth is expected to dominate the case.
Read more about our expert Divorce Solicitors.