‘Biggest divorce case in British legal history’ results in £251million settlement

A settlement, described as the biggest divorce case in British legal history, was agreed in the High Court recently.

Princess Haya Bint Al-Hussain, the youngest of six wives of Sheikh Mohammed Bin Rashid Al-Maktoum, was awarded a lump sum of £251.5 million.

The money will provide the princess with enough funds to cover the cost of running two multi-million-pound properties in London and Surrey, along with provision for a substantial security budget.

In the divorce ruling, the judge decided that, given earlier rulings, the princess and her two children were particularly vulnerable.

He said they needed watertight security to ensure their continued safety in the UK. He said the “main threat” to Haya and the children came from Sheikh Mohammed.

Princess Haya did not ask for any money for herself in the proceedings, other than to compensate for items, including jewellery and clothes, that she lost due to the marital breakdown.

The Sheikh was also ordered to pay £41.5 million upfront to the princess for chattels, cash for education and maintenance arrears and £5.6 million a year for each child for maintenance until they finish their education, after which he must pay them directly the same amount, but for their security.

Forensic accountants play a key role in helping legal teams advise on available assets in order to achieve an equitable settlement.

At Moore Thompson, we have a number of experts who are experienced in providing specialist valuation and tax advice for couples who are separating and who wish to ensure that the division of assets is as tax efficient as possible.

Our experts are also able to provide robust reports and act as expert witnesses in court proceedings on issues including divorce, particularly where substantial assets are involved.

Alongside business valuations, we can advise on whether and how funds can be extracted from the business and assist with financial settlement negotiations, including splitting pensions, share transactions, setting up trusts and investing funds.

We can assist also with completing Form E, which discloses the individual’s income and assets, and examine the other party’s form.

Additionally, we are able to provide advice on the tax implications of disposing of matrimonial assets. For more information on our forensic and expert witness services, please contact Ken Maggs on 01775 711333.