£5 Million Divorce Settlement ‘Not Enough’


The ex-wife of a multi-millionaire sought leave to appeal against the amount awarded to her in the couple's divorce settlement on the basis that it did not reflect the true growth of her husband’s wealth during their marriage. 
Earlier this year, Victoria Jones was awarded £5 million of her ex-husband’s total estimated fortune of £25 million. The High Court found that 60 per cent of the value of Mr Jones’s company had been established before the marriage, which is why Mrs Jones was only entitled to 20 per cent of his wealth. Both parties had fought bitterly over the settlement and each had accused the other of dishonesty when disclosing their respective financial positions.
Mr Jones’s legal team argued that his ex-wife was a woman of independent means who had a substantial amount of money before she married him. Her ex-husband was a self-made man, who began his working life as an apprentice in the Scottish offshore oil and gas industry. He sold his company, Dominion Technology Gases, for the sum of £32 million, approximately one year after separating from his wife.
In considering whether Mrs Jones had a right to appeal, the Court of Appeal heard that the High Court's decision was at odds with the evidence. Accounting records showed that Mr Jones’s company was only worth £3.2 million when the couple married.
The Court of Appeal gave permission for Mrs Jones to appeal on the basis that she had, at least, an arguable case. The appeal will be heard at a later date.
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