Millionaire divorcee goes to court to claim back settlement money
City fund manager Bryan Meyerson has returned to the courts in an attempt to reclaim £9.5 million from an earlier divorce settlement with his wife. He claims that a 90% fall in the value of shares held by the couple would leave his ex-wife with over 100% of the couple's assets using the current value. In February of last year Mr Myerson's wife was awarded 43% of the couple's £25.8 million fortune which at the time was a fair split according to the law courts. However things have changed!
Specifically, the former Mrs Meyerson was apparently awarded £9.5 million cash although Mr Myerson chose to invest his £9.5 million fund in his fund management company Principle Capital Holdings (PCH). The shares in PCH have now collapsed and in effect Bryan Meyerson is looking to revert to the cash option available at the time. It is also claimed that Bryan Meyerson still owes his wife £2.5 million and will need to borrow money to cover this debt, thereby taking his wife's share of the current assets to a staggering 105%.
While this is an extraordinary example of what is going on at the moment it is something which is going to become more and more common over the weeks and months ahead as stock prices and business values continue to fall.
Share this..
Related stories
Woolworths rises from the ashes
In a move which has stunned many in the retail sector it has been revealed that Woolworths has been acquired by online retailer Shop Direct and will be reborn as an online entity. Shop Direct is the owner of Littlewoods and is looking to relaunch the Woolworth's brand name in the virtual arena over the next few weeks.
Unfortunately for the 30,000+ former Woolworths employees the fac...
Credit card fraud is a major problem in the UK
In a recession there are very few areas of the economy which are in an upward trend but credit card fraud and credit card theft are two areas which are booming at the moment. Whether it is the fact that more and more people in the UK are looking towards their flexible friends to fund their short-term lifestyles or perhaps the fact that criminal gangs have become more sophisticated is open to debat...
Read MoreNorthern Rock shareholders lose appeal case
The band of Northern Rock shareholders who took the UK government to court demanding compensation for their shares have today lost the first stage of their appeal against a recent ruling which backed the government's stance. The situation revolves around the financial health of Northern Rock before and after it was placed into administration by the UK government.
The UK government i...
University funding increased
Total funding for universities and colleges in England will rise by 6.4 per cent in the 2007-8 school year, it has been announced.The Higher Education Funding Council for England (HEFCE) said the increase would make possible the prospect of higher education for 33,000 more full-time students.It added that the funding package provided a 5.4 per cent increase in research funding and a 2.75 per cent...
Read MoreKodak Pension Plan Members to receive reduced Benefits
Members of the Kodak Pension Plan (KPP), of which there are thought to be 15,000, will receive reduced pension benefits after Kodak’s parent company, Eastman Kodak, was declared bankrupt. KPP was forced to pay £419m to buy the business and in doing so save the company from closure. KPP now owns the companies entire film business, which consists of hundreds of thousands of photo kiosks w...
Read More