Trials & Litigation
A Former Solicitor Costs Her Soon-to-Be Ex-Husband $157M in a Divorce Case
Posted Dec 2, 2011 10:44 AM CST
By Martha Neil
After eight years of marriage, a former solicitor has won a monster divorce award from Hong Kong's high court.
The total cost of the judgment to her ex-husband, real estate magnate Samathur Li Kin-kan, was approximately 20 percent of his net worth.
Before the court ruled, he had offered Tsang more than $25 million to settle the case. The couple married in 2000 and separated in 2008.
The largest divorce settlement ever was the $1.7 billion Rupert Murdoch agreed to pay his wife of 32 years in 1998, the Telegraph notes.
The amount given to Tsang is the highest divorce award ever in open court in Hong Kong, the Sun says. It was granted under a new law that calls for a 50-50 split of assets to be a starting point for making such determinations.
Judge John Saunders, who said the pair lived "a lifestyle best described as just below that of a U.S.-dollar billionaire," took into account the maintenance requirements of a yacht worth $640,000, among other expenses, in determining what Tsang should get. Her award includes a $32 million property in Hong Kong and a $4 million town house in London.