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The four-year divorce battle between a Laura Ashley boss and his former beauty queen wife over his £440million fortune is finally over today.
Khoo Kay Peng, 78, and Pauline Chai, 70, who was Miss Malaysia in 1969 and married Mr Peng in 1970, have been fighting over money in the courts since 2013.
But today a family judge signalled the end of the marriage by granting a decree absolute after both sides racked up a ‘stratospheric’ £6million in legal fees between them.
While Ms Chai’s payout will be agreed later this year, she had asked for £85,000 a month from her estranged husband, who lives in Malaysia.
The figure included £135,000 a year she wanted to cover first-class flights, suites at five-star hotels and chauffeurs.
All over: Former beauty queen Pauline Chai, 70, pictured last February at the High Court, has confirmed she has finally divorced her Laura Ashley tycoon husband after a £6million legal battle
Couple: Khoo Kay Peng, 78, and Pauline Chai, 70, who was Miss Malaysia in 1969 and married Mr Peng in 1970, have been fighting over money in the courts since 2013
A judge later said that was too much and set the bar at £50,000-a-month.
The tycoon has five grown-up children with his wife of 46 years, who lives on a sprawling £30million estate in Hertfordshire, complete with an exotic menagerie of alpacas and llamas, and a dressing room filled with 1,000 pairs of shoes.
While he fought to have their case heard in Malaysia, 70-year-old Ms Chai has been granted permission to have it settled in London.
Their case, which has already cost about £6 million, is believed to have been one of the most expensive divorce cases ever to come before the British courts.
Deal: Ms Chai, pictured in 2015, had asked for £85,000 a month from her estranged husband, who lives in Malaysia
‘Today’s grant of decree absolute brings an end to a process set in motion nearly four years ago,’ said solicitor Ayesha Vardag, who represents Ms Chai.
‘Ms Chai feels a great sense of relief that she can now move on with her life, with her faith in the fairness of the English legal system affirmed once again.
‘She is delighted now to have the independence which the grant of decree absolute signifies.
‘All that now remains is to obtain the just financial settlement to which she is so clearly entitled, having supported her former husband in his business endeavours for nearly five decades, slot gacor terbaru and having raised their five children.’
Miss Vardag previously claimed Peng is worth more than £440 million, he maintains his assets are worth only £66 million.
The sums involved, admits Vardag, are staggering.
‘There’s plenty to go round, but there’s a huge amount at stake,’ she told the Mail last year.
‘We’re not arguing about a few thousand; we’re arguing about hundreds of millions.That’s why there’s such a big fight.’
Dr Khoo and Ms Chai, who both come from Malaysia, married in 1970.
They could not agree on whether decisions about who got what ought to be made in English or Malaysian courts, and litigation was launched in both countries.
Dr Khoo, who is based in Malaysia, said the marital home was in Malaysia and added that a judge in Malaysia should make decisions about the division of money.
Argument: Miss Chai says they moved their home to Berkhamsted, Hertfordshire, pictured, before separating, and argued a decision on their divorce mus be made in an English court
Dr Khoo is non-executive chairman of Laura Ashley Holdings, one of the Britain’s most popular homeware stores (pictured in Kensington High Street)
He said Ms Chai wanted to fight in England because an English judge would give her a more generous award.
Ms Chai said they moved their home to Berkhamsted, Hertfordshire, before separating and therefore decisions should be made in an English court.
In December 2015, Ms Chai claimed victory in the fight over jurisdiction following a ruling by three Court of Appeal judges in London.
A High Court judge in London is expected to make decisions on how big a payout Ms Chai should get later this year.
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HOW BRITAIN GAINED A REPUTATION FOR DIVORCE TOURISM — SOME OF THE BIGGEST DIVORCE SETTLEMENTS IN THE WORLD HAVE BEEN HERE
For more than a decade London has been considered ‘the divorce capital of the world’ and led to ‘divorce tourism’ by ex-wives from all over the world seeking bumper payouts.
The flexibility given to judges presiding over divorce proceedings in England and Wales means spouses are more likely to receive generous maintenance payments than in other countries.
In November 2014 American Jamie Cooper-Hohn was awarded £330million in what is believed to be Britain’s most expensive ever divorce case.
Her ex-husband Sir Chris Hohn, pictured right, did however manage to deny her an equal share of the couple’s vast wealth.
Mrs Cooper-Hohn raised their four children and ran the charitable foundations into which her husband poured most of the money made.
The judge said, however, that he had also played a major role in managing the charities and that the couple would have no £870million fortune to divide without him.
This ruling is likely to have a significant impact on future divorce rows.
In 2011 Galina Besharova was awarded up to £200million as part of her divorce from late billionaire Russian oligarch Boris Berezovsky,
Other generous settlements include that awarded to Heather Mills following the break down of her marriage to Sir Paul McCartney 2008.Following the four-year marriage, Miss Mills received £24.3million.
Michelle Young was awarded a £20million sum after parting ways with her ‘bankrupt’ husband Scot Young, who fell to his death
In 2006 Beverley Charman, the former wife of insurance magnate John Charman was awarded a £48million settlement by the English courts in proceedings which took two years.
Mr Charman appealed the decision but the pay out, which made legal history at the time, was upheld in 2007.