Insurance magnate John Charman, whose fortune is estimated at over £130m, has launched an appeal against the £48m financial settlement awarded to his ex-wife Beverley.
The award, the largest ever made by a British court, followed her refusal to accept his offer of £20m, which the tax exile famously described as 'enough for anybody'. He claimed that such a sum would be impossible to spend in a person's lifetime. In his view, the original judgment was 'poor and blatantly discriminatory'.
The settlement in this case followed the recent practice of the courts, which seek to divide the 'matrimonial assets' relatively equally. Mr Charman's belief is that the family wealth was built up by his efforts (the couple both come from modest backgrounds) and that it is therefore fair for him to keep the lion's share.
The decision in this case will be eagerly awaited, especially by lawyers dealing with the divorces of wealthy couples. However, other recent cases involving rich couples would seem to give Mr Charman few grounds for hope that the settlement will be radically altered.
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