News

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

  • April 10, 2017 test
  • 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

May 22, 2019
Henry Hood discusses the division of private corporate assets on divorce in Legalease’s Family Law Journal
May 17, 2019
Henry Hood wins the Career Achievement Award at the Citywealth Magic Circle Awards 2019
May 15, 2019
Hetty Gleave examines sensitive family proceedings and public confidence in The Times
May 10, 2019
Hetty Gleave comments on Sir Andrew McFarlane’s plans to boost news coverage of family court proceedings in Family Law Week
May 09, 2019
Hetty Gleave and Anna Roiser discuss child maintenance and things to consider as summer approaches
May 03, 2019
Hunters’ Family Department featured in Spear’s Magazine
May 03, 2019
Henry Hood recommended in the Spear’s Indices 2019 for Family Lawyers 2019
Apr 30, 2019
Hazel Wright examines three cases that have proved useful to family lawyers regarding the Human Rights Act 1998 in Family Law Week
Apr 09, 2019
Henry Hood comments on the no-fault divorce reform in The Guardian
Apr 05, 2019
Jo Carr-West comments on a £1.3m divorce award despite signing a pre-nuptial agreement in Family Law Week

© Hunters Law LLP 2019 | Privacy NoticeLegal & Regulatory | Cookies Policy | Complaints Procedure

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