Ms Young has argued that forensic evidence establishes that her former husband had assets of £700m two years after declaring himself bankrupt. Her barrister informed the court that Mr. Young had access to large sums that were “secreted in cleverly constructed offshore tax vehicles.”
Ms Young has informed the court that she would settle for a lump sum payment of £300m with legal costs. Earlier this year Mr Young was sentenced to a six month prison sentence for breaching an order for disclosure as part of the ancillary relief proceedings.
However, he still maintains that he is bankrupt and Ms Young’s barrister will be cross-examining many high profile businessmen, including Sir Philip Green, on witness statements made as part of the proceedings.
The above is not legal advice; it is intended to provide information of general interest about current legal issues.