Wife says she will settle for £300m divorce payout

By Lenore Rice

The High Court has begun to hear the divorce case of Michelle and Scot Young, and have been told by the businessman's estranged wife that she will "settle for £300million".

The case will no doubt hinge upon the two versions of Mr Young that are being portrayed. Ms Young says her former husband is worth "a few billion at least", while he contends that he "penniless and bankrupt" as a result of the recession. The High Court case brings to a climax a financial battle that has been waged since the couple separated in 2006 after 17 years of marriage.

Mr Young has already spent time in jail after been held in contempt of court for "flagrant and deliberate" disregard of court orders requiring him to provide financial information. Mr Justice Moor must now evaluate the current wealth of Mr Young, and will hear evidence from both parties over the next few weeks. Mrs Young claims her ex-husband has yet to lay out any real evidence as to where his vast wealth has disappeared to, and has spent her first day in court detailing the luxurious lifestyle the couple led, and the extent of the wealth at their disposal during their marriage.

If you require legal advice from a divorce solicitor in Northern Ireland, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 1363.