£48million Divorce Payout For Axa’s Charman
THERE are plenty of things you could buy with £48million – a football club, a peerage or even a two-bedroom (unfurnished) flat in central London.
Beverley Charman, ex-wife of insurance magnate John Charman, will no doubt be pondering these purchasing choices after a court upheld her massive divorce payment.
Mr Charman, head of the Axa Insurance group, had challenged the £48million settlement, claiming that it was “grotesque and unfair”. However, in response, lawyers for his former partner argued that the House of Lords had already set down guidelines for big money divorce rulings in which the family assets should generally be divided equally.
While Mr Charman’s legal team argued that as he had created most of their wealth, he should therefore keep the lion’s share, appeal judges Lord Justice Thorpe and Lord Justice Wilson ruled in Beverly Charman’s favour.
Mrs Charman says: “I acknowledge that the sum awarded to me is huge by any standards, but the court of appeal has decided that it fairly reflects the contributions made by John and me during our 28-year marriage. I am relieved that the appeal is over, and I hope that John and I can now concentrate on building our new lives.” And splurging all that cash.
Mrs Chapman could follow Mr Bean’s lead and cough up £500,000 for a classic D-Type Jaguar.
Posted: 24th, May 2007 | In: Money Comment | TrackBack | Permalink
