Princess Haya bint al-Hussein and her then-husband Sheikh Mohammed bin Rashid al-Maktoum on the Royal Ascot in England.Reuters
A UK decide ordered Sheikh Mohammed of Dubai to pay a $734 million divorce contract to his ex-spouse.
Princess Haya had filed for divorce in London, called "the divorce capital of the world."
right here's why British courts are so lucrative for better halves of the super-prosperous trying to divorce.
On Tuesday, a UK judge ordered Sheikh Mohammed bin Rashid al-Maktoum, the emir of Dubai, to pay a £554 million ($734 million) divorce settlement to his former wife, Princess Haya.
Haya had sued for divorce and custody of her two children after escaping to the uk in 2019.
London, her alternative of venue for the divorce filing, is referred to as "the divorce capital of the realm."
That acceptance become galvanized this week by using the $734 million payout, which is believed to be the largest ever divorce settlement ever secured within the UK.
the uk courtroom device is the go-to vacation spot for wives of the super-prosperous looking to divorce, especially because of a prison subculture which is more favorable than most to the financially weaker party.
numerous spouses have secured multi-million pound payouts — sometime amounting to 50% of their husband's property — by using taking knowledge of the equipment which affords judges a big amount of discretion.
Princess Haya and Queen Elizabeth in Windsor.Getty
here's as a result of the a landmark judgment in 2000 where the thought of the "equal sharing" of belongings grew to become the norm. The frequently-cited case — "White v White" — issues Martin White and Pamela White, farmers from Somerset who filed for divorce in 1994.
After years of wrangling, the court docket found that Mrs. White became entitled to forty% of the couple's £4.6 million belongings, even if most of them have been in Mr. White's identify.
whereas the couple had been no longer super-prosperous, the precedent they set has had big ramifications.
meanwhile, the sheikh is price an estimated $4 billion, and Justice Philip Moor ruled in November that he need to recompense Haya for her possessions.
Mohammed should pay £13.6 million for Haya's jewelry, £1 million for haute-couture apparel, £1 million for vehicles, and £5 million for racehorses.
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As Mark Harper, a divorce legal professional at Hughes Fowler Carruthers, informed The Guardian in 2015: "when you are the person with the cash then most individuals will stream heaven and earth to evade a divorce in England because the law is lots greater beneficiant to, usually, the wife, the grownup with out the cash."
The Royal Courts of Justice in London.Getty
London has been the scene of one of the most monetary elite's messiest and most high priced divorces.
In 2014, the British investor Sir Christopher Hohn become informed to pay £337 million — practically half of his £seven hundred million fortune — to his American spouse, Jamie Cooper-Hohn.
however Hohn earned the money himself, the court dominated that his company become carried out in "partnership" together with his spouse, The daily Telegraph pronounced.
In 2017, the Russian oligarch Farkhad Akhmedov became instructed to quit £453 million — about 40% of his fortune — to his spouse Tatiana.
And in an nameless 2013 divorce case referred to as "M v M," a choose declared that fifty% of a Russian man's £107 million fortune may still go to his Russian ex-spouse, who had filed for divorce in London.
Ayesha Vardag, a divorce attorney, advised The Guardian that the uk changed into a gorgeous jurisdiction for wives in quest of divorce.
She spoke to the newspaper after representing Pauline Chai, a Malaysian model, in her divorce from the trend magnate Khoo Kay Pen, a case wherein Chai gained £sixty four million.
Vardag observed: "The precept that there is no discrimination between breadwinner and homemaker is the cornerstone of why the English jurisdiction is viewed as a particularly fair one for the financially weaker companion."
legal professionals for Khoo informed the court that his case had improved "the sick-gotten attractiveness of this nation for being the divorce capital of the realm."
Vardag, one in all London's most revered divorce attorneys, informed Time magazine in 2018 that the reason so many better halves have a felony argument for pursuing divorce in England is that London property is a prized asset for the tremendous-wealthy.
This skill the couple has property over which a UK court docket can exert authority.
the united kingdom courtroom equipment is also favorable for the weaker birthday party as longstanding pre-marriage property — like inheritance or property bought before the wedding — is treated the identical manner as belongings won after marriage. here's no longer the case in many US states.
Haya and Mohammed separated in 2019 after he discovered she became having affair with her British bodyguard, the courtroom heard. She fled to the uk that yr with her children after getting to know he turned into accused of imprisoning one among his different children, Princess Latifa, as a result of she tried to break out.
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