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Millionaire businessman loses battle to rewrite divorce agreement

Former City tycoon Bryan Myerson has today lost his battle to rewrite the terms of a recent divorce from his estranged wife. The tycoon took the bulk of his £14.6 million settlement (from assets totalling £25.8 million) in shares in his investment company Principle Capital Holdings. Unfortunately the value of the investment has collapsed since the agreement was reached and if he was to adhere to the terms in full he claims he would be £500,000 down.

He decided to take his ex-wife to court to rewrite the terms of the agreement and many eyes were focused upon the outcome which had the potential to cause waves among many other married couples who have parted company. The action was seen as something of a legal precedent although it appears to have fallen down on the number of points.

In summary the judge ruled that the businessmen had taken a business decision with his assets, taking them in shares as oppose to cash, and had therefore taken a gamble which has not paid off. To now go back and suggest that the agreement should be rewritten because of the significant fall in the value of the shares did not seem to hold any sway with the judge.

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