Tycoon's wife furious over €23m divorce settlement

Tycoon Scot Young, who is accused by his estranged wife Michelle of hiding his fortune to avoid a divorce settlement, is worth £40m (€46m), a High Court judge in England ruled today.

Tycoon's wife furious over €23m divorce settlement

Tycoon Scot Young, who is accused by his estranged wife Michelle of hiding his fortune to avoid a divorce settlement, is worth £40m (€46m), a High Court judge in England ruled today.

Mr Justice Moor said Mrs Young should get a lump sum of £20m (€23m).

But she reacted with fury to the ruling, saying: “It’s disgraceful. I stand by what I said. He’s worth billions.”

Mr Young, 51, and his wife, who is 49, have fought a long and bitter battle over money.

Mrs Young claims he has hidden “a vast fortune” and that she was a victim of ”fraud” because Mr Young has manipulated his affairs so as to do her down.

Mr Young claims he is penniless and bankrupt and has debts which added up to £28m (€33m).

In January, Mr Justice Moor imposed a six-month prison term on Mr Young after concluding that he had failed to provide financial information to his wife in the run up to the trial and was in contempt of court.

The judge has heard that the Youngs, who live in London and have two daughters, separated in 2006 after starting a relationship in 1989.

A lawyer representing Mrs Young has told the judge that she had run up a bill of £1.6m (€1.9m) fighting for a “fair share” of Mr Young’s wealth.

Mr Justice Moor said: "I realise Mrs Young will have difficulty enforcing this order.''

But he added: “This debt will exist for all time. Mr Young will never be free of it.”

The judge said he hoped Mr Young would take the view that he was better off paying the £20m (€23m) so that he could concentrate on rebuilding his life.

Mrs Young added: "Sadly for us and for Mr Justice Moor, it has been impossible to quantify the assets.

“Many people will be watching this and think it’s a fortune but at the moment all this order is is a piece of paper.

“This isn’t over. Not for me. Not for my two daughters and not for Mr Young.”

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