Dr Khoo Kay Peng, the boss of Laura Ashley, has been ordered to pay his former wife Pauline Chai a divorce settlement of £64 million.
Ms Chai had been seeking an equal share of the assets of their marriage, which she claimed were worth at least £205 million, as she said that she had made an equal contribution to the marriage, by staying at home and looking after the children. Dr Khoo, on the other hand, argued that Ms Chai should only receive about £9 million. However, Mr Justice Bodey in the High Court ordered that Ms Chai should receive £64 million, made up of property and cash, in one of the largest settlements in history.
Ms Chai’s lawyer described the settlement as a victory for the ‘home maker’.
Subject to any appeal, the ruling brings to an end long-running and bitter court proceedings between Dr Khoo and Ms Chai, upon which they have spent in excess of £6 million on legal costs.
Mr Justice Bodey’s judgment can be read here.
Image by Elliott Brown, licensed under CC BY 2.0.