UK Husband makes a fortune with the internet, about 14 million pounds UK. Husband and Wife of twenty-three years maintain a lavish lifestyle, running through more than six million pounds UK over the last ten years.
In their divorce, the trial court finds that Husband tenaciously hid, or tried to hide, assets from Wife … and the court.
The court awards Wife one-half of what it determines the marital estate to be worth, payable on September 1, 2010.
The recession and the divorce may have combined to reverse Husband’s fortunes. But Husband’s conduct in the case garners him no support from an intermediate appellate court.
The trial court’s award of 200,000 UK pounds in alimony per year until Husband makes good on the property division award stands. And Wife is allowed to market one piece of real estate and retain the net proceeds as a deposit toward her share of the marital estate.
Husband maintains that the award is in error because it is based on a lifestyle that has slipped out of reach of the couple due to the recession and years of living way beyond their means.
But the intermediate appellate court denies Husband the right to appeal further.
Read more in this UK Telegraph article: Polo playing dotcom tycoon forced to pay wife Ã‚Â£7 million in divorce settlement and this UK Mail article: Polo-playing tycoon must hand his wife Ã‚Â£7m in divorce deal
after couple spent Ã‚Â£6.5m in ten years of high living.