John Bolch, author of UK blog Family Lore, brought our attention to the story in the Independent which reports today on Scot Young’s divorce. This update is highly appreciated since we have not had recent updates on that case in years! If you have been following Divorce Saloon you may remember that we did a post on this story about this multimillionaire who declared he was completely broke within days of receiving his divorce petition from his estranged wife. It is alleged that he has not paid her a dime nor has he taken care of his kids. Instead, he filed for bankruptcy while continuing, mysteriously to live a lavish lifestyle with his billionaire friends. We are not privy to the facts in this case. So for all we know he’s paying her a little something on the side. But for sure, it appears that the divorce judge did not buy his story about being bankrupt and ordered his wife to be considered one of his creditors, even giving her a higher priority than other creditors (some of whom the judge says are fictitious since these same creditors ostensibly have been funding the millionaire’s lifestyle post divorce). This seemed to rancor the bankruptcy solicitors in the case. According to the UK Independent (a newspaper), the bankruptcy solicitors took an unpredented move by writing a scathing letter to the divorce judge and presumably the London-based divorce solicitors for Mr Young!
Last week, during a costs application in the bankruptcy division of the High Court, it emerged lawyers for the accountancy firm, who were appointed four years ago to try and recover Mr Young’s secreted wealth, wrote privately to criticise the judge in the divorce hearing.
One of the points that Boyes Turner complained about was the finding by Mr Justice Moor that most of Mr Young’s creditors did not exist.
The judge, Mr Justice Moor rebuked the lawyers by admonishing them that they should have made some sort of motion rather than send a letter. Can he find them in contempt? The jury is out. But it seems to be pretty scandalous what they did because everybody is talking about it. They really got their Feathers ruffled by this 27 million pound divorce judgement in favor of Michele Young and her daughters Sasha and Scarlett – three damsels who have not received a dime of post-divorce support from Scot – ex husband and father who claims he is not only penniless, he is actually bankrupt.
The Independent went on to say:
However following a hugely-acrimonious, seven-year battle, which heard testimony from some of Mr Young’s high-profile business friends including billionaire Topshop owner Sir Philip Green, and restaurateur Richard Caring, Mr Justice Moor ruled that Mr Young was not a “penniless man of straw with huge debts” and that “wads of cash”handed to the tycoon by his friends “came from his own hidden resources, in part held for him by third parties”. During the divorce hearing last year, Mr Young was cross-examined over why several creditors to whom he claims to owe millions of pounds were still funding his lavish lifestyle.
Very mysterious circumstance one must admit. All the same, thanks to John Bolch for bringing this to our attention. (www.familylore.com)