The son of Screwfix founders has reportedly been involved in Court proceedings to determine how much his ex wife should receive by way of divorce settlement since 2010.
An initial agreement was reached, but the wife later found out that the husband had not been honest about his financial circumstances and the husband was ordered to pay the wife more.
A few years later the wife found out that the husband had again not been honest about his financial circumstances and the husband was ordered to pay the wife more.
However, the wife is appealing against this latest order saying that the Judge did not consider whether a settlement that provided her with £7.4 million and the husband with £75 million was fair.
This is less than 10% of the assets, which in cases where the assets are of a more regular size would in almost all cases be considered very unfair.
When the Courts are deciding who should receive what in any financial settlement, they take into account the section 25 factors set out in the Matrimonial Causes Act.
Different factors are more significant depending on the circumstances, but the Court also tests fairness by the overall percentage. It will be interesting to see whether the appeal is successful.
The ex-wife of a millionaire businessman whose family founded the Screwfix chain is back in court for the latest round of a money dispute after complaining that she has been left with less than 10% of assets worth more than £80 million.
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