News

Henry Hood comments on Laura Ashley boss to pay £64m divorce settlement in Family Law Week and STEP

  • April 10, 2017
  • By Hunters Law

On Thursday 6 April 2017, Mr Justice Bodey ruled that the 78-year-old boss of Laura Ashley pay his ex-wife, Pauline Chai, £64m to settle their long-running divorce row, which has been noted as one of the biggest divorce settlements in the UK courts.

Pauline Chai was seeking £100m from Khoo Kay Peng following their split after 42 years of marriage. She claimed their assets were worth at least £205m.

She claimed she had contributed to her husband’s success by being a “traditional” wife, and that she and Khoo had made a sharing agreement entitling her to half of the family wealth.

Henry Hood, Partner in the Family Department at Hunters Solicitors, commented:

“This has been an extremely long standing dispute. Ms Chai originally sought £105m – half of the family wealth – which was thought unlikely. Dr Peng offered £9m because he considered he had made a far greater contribution towards its creation.

“Awarding £64m – in one of the largest divorce awards the UK courts have made –  suggests that the judge preferred Ms Chai’s case to Dr Peng’s. We are yet to see the terms of the judgment itself, but it is likely that it will represent a further refinement of the concept of Special Contribution as a defence to financial claims in divorce.”

Read the articles in Family Law Week and STEP.

Related News

Sep 21, 2022
Olivia Piercy featured in a Q&A in Today’s Family Lawyer on her career path and the areas of family law undergoing transformation
Sep 06, 2022
Constance Tait discusses maintenance and inflation in 2022
Sep 06, 2022
Hunters Law shortlisted at the Family Law Awards 2022
Sep 05, 2022
Olivia Piercy joins Hunters Law as a Partner in the Family Department
Jun 29, 2022
Hunters’ Family Department highlighted in the 2022 edition of the Spear’s Family Law Index
Jun 15, 2022
Philippa Kum and Eri Horrocks outline top tips for co-parents on agreeing arrangements for children in EPrivateClient
Jun 13, 2022
Amy Scollan and Anastassia Dimmek examine what happens to an art collection when couples divorce in Antiques Trade Gazette
Jun 08, 2022
Amy Scollan and Anastassia Dimmek discuss the distribution of artwork during divorce proceedings in EPrivateClient
May 12, 2022
Eri Horrocks examines post-separation assets in Today’s Family Lawyer
May 03, 2022
Polly Atkins reviews guidance on applications for security for costs in Family Law Journal

© Hunters Law LLP 2022 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure.

Hunters Law LLP is authorised and regulated by the Solicitors Regulation Authority (number 657218)