ex-wife of bankrupt millionaire secures new funding to pursue
divorce settlement
In 2006 Michelle Young separated from her
millionaire husband Scott Young, who had made his fortune as a
property tycoon. The couple divorced in 2009 and she was awarded
Britain's largest maintenance settlement consisting of £27,500 a
month, plus rent and private school fees for their daughters.
However, Mr Young declared himself bankrupt and Mrs Young did not
receive any of this maintenance. Mrs Young claims that Mr Young hid
his fortune of at least £400 million offshore in order to defeat
the court's order but Mr Young says he lost his wealth in a Russian
property investment.
Mrs Young says that during the last few years
she has been living on benefits in rented accommodation and that
her children have been removed from private school. She has now
instructed a new legal team to pursue the case because she says
that a benefactor has agreed to provide unlimited funding towards
her legal costs. Her new legal team appeared in the High Court on
Wednesday to adjourn a hearing that was scheduled for next week in
order to allow them time to prepare her case. They intend to
instruct a forensic accountant and will attend a hearing later this
year in front of Mr Justice Mostyn. Mr Young still claims that his
fortune no longer exists.
