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12 November 2012

Judge warns that wives divorcing wealthy husbands can no longer expect large payouts


Wives who divorce wealthy husbands have been warned by the most senior family judge, Lord Justice Thorpe, that they cannot expect large payouts simply because they are used to an affluent lifestyle (reports The Telegraph).

Making the comments while presiding over the hearing of multi-millionaire hotel boss Andrew Morris Davies, who is battling to cut the £2.75m payout awarded to his ex-wife Debra Ann Davies, Lord Justice Thorpe said the days of wives receiving multi-million pound lump sums to keep them in the style to which they have become accustomed are over.

He said payouts in "big money" divorces, where wives feel it is "reasonable" to ask for millions to maintain their lifestyle should be consigned to history, adding: "We only talk about 'needs' when there isn't a lot to go round." "The bigger the family fortune, the less relevant needs become," he added.

Read the full story here.