Tycoon divorce case returns to courts

Tycoon Scot Young and his estranged wife return to the High Court today over matters said to relate to the £27,500 a month maintenance he was ordered to pay.

Michelle Young is claiming she has not received any money from the man she says is worth £400 million. Mr Young claims he is massively in debt.

Mrs Justice Black, who made the order last December, will hear today's action in London.

She ordered Mr Young to make the maintenance payments for his wife's living and legal expenses until his financial affairs become "clearer" at a full hearing in May to divide the assets of their marriage.

In a statement, Mrs Young said for three years her husband had refused to give full and frank disclosure of his assets.

"While 'the fixer' to Russian oligarchs and British billionaires claims to be 'penniless' he still has the means to retain some of Britain's finest legal representation."

She added: "I'm doing this to make sure that my daughters and I won't have to worry for the future and at the same time this is a process to make history for an important case like this to receive public funding.

"This is 20 years of my life, this has had such a huge effect on me and my daughters. Like so many women, so many families in this situation, I want to stand up and make this change for justice."

The judge was told at the December hearing that 47-year-old Mr Young was given £1.2 million over three years by friends to pay for his and his estranged wife's living expenses because he is broke.

The couple were married in 1995 and separated in 2006 when Mrs Young returned to the UK and petitioned for divorce a year later.

Mr Young is claiming, said the judge, that he has no capital to pay his wife's maintenance and had £28.5 million in debts.

He said money had been provided through the generosity of friends but they may no longer be prepared to do so after their names appeared in newspapers on the "instigation" of the wife.

The judge said "matters went off track" in the court proceedings almost immediately when Mr Young provided details of his assets which were "virtually useless".

"The parties have historically lived a luxurious lifestyle on money made by the husband in the course of his activities as an entrepreneur and property dealer."

She said he claimed he now had nothing but debts but was trying to get back into business and hoped to start generating income again.

In the meantime he was continuing to borrow money from friends to maintain his wife and children until he is able to earn again.

Mrs Justice Black said Mrs Young had questioned the "change of fortune" and whether it was real.

At a hearing earlier last year, another High Court judge found Mr Young in contempt for failing to provide more information about his assets and sentenced him to six months in jail, suspended, to give him a chance to provide full details.

The decision over whether to impose the sentence was postponed again when Mr Young provided large amounts of material, said Mrs Justice Black.

The judge said his true worth will not be known until an examination of the material.

She said Mr Young did not have a bank account and said he was living on £150 a week provided by a friend.

The judge said Mrs Young had been living on her capital since the funding stopped last year and now had just £30,000 left and owed £180,000 to divorce solicitors.

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Arts and Entertainment
a clockwork orange, stanley kubrick
The Tesco Hudl2: An exceptional Android tablet that's powerful, well-built and outstanding value

Life and Style
food + drinkAuthor DBC Pierre presents his guide to the morning after
Sarah Silverman (middle) with sister Reform Rabbi Susan Silverman (right) and sister actress Laura Silverman (left) at Jerusalem's Western Wall for feminist Hanuka candle-lighting ceremony
peopleControversial comedian stages pro-equality Hanukkah lighting during a protest at Jerusalem's Wailing Wall
Arts and Entertainment
The Bach Choir has been crowned the inaugural winner of Sky Arts’ show The Great Culture Quiz
arts + ents140-year-old choir declared winner of Sky Arts' 'The Great Culture Quiz'
Life and Style
food + drink
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Finance Director

£65000 - £80000 per annum: Recruitment Genius: Finance Director required to jo...

Recruitment Genius: Medico-Legal Assistant

£15000 - £25000 per annum: Recruitment Genius: This is a unique opportunity fo...

Ashdown Group: (PHP / Python) - Global Media firm

£50000 per annum + 26 days holiday,pension: Ashdown Group: A highly successful...

The Jenrick Group: Quality Inspector

£27000 per annum + pension + holidays: The Jenrick Group: A Quality Technician...

Day In a Page

Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

Walliams' story about a boy who goes to school in a dress will be shown this Christmas