Posted by Simon Bassett, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Entrepreneur ordered to pay his wife £70million
A millionaire businessman has been ordered to give around a third of his fortune to his ex-wife following a High Court divorce battle.
Nick Robertson, who set up the online fashion giant Asos and is one of the UK’s richest men, was told that his ex-wife Janine should receive around £70million.
He had previously argued that she should receive less than half this amount in assets, while she had pushed for an amount exceeded £100million.
Mr Justice Holman said he had been asked to decide on the settlement after the couple had failed to come to an agreement.
“I strongly urged the parties to settle the case,” said the Judge. “But no compromise has resulted.”
The Judge said that the nub of the dispute was how the value of shares and property owned by the entrepreneur should be divided up.
The property portfolio alone was worth £60million, with the couple owning homes across London, Oxfordshire and France. The assets also included a number of luxury cars and boats.
Mr Justice Holman conceded that Mr Robertson had been the money-maker in the couple’s marriage, but that his wife had been an “excellent homemaker and mother” and the pair had contributed equally during the time they were together.
Only Mr Robertson attended court to hear the ruling.
To find out more about the family services we provide, please contact Patrick Hart from our family law team today.