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24/05/2007
Businessman loses appeal over divorce payout
A millionaire businessman has lost his appeal against a £48 million divorce payout to his former wife at the Court of Appeal.
John Charman, 54, the owner of the Axis insurance group, said that the amount awarded to Beverley Charman, 53, was "unfair", claiming that his offer of £20 million was enough, because she had been a housewife.
However, Sir Mark Potter, President of the family division of the High Court, said: "Neither in its method nor its result do we regard the judge's treatment of the husband's special contribution as vulnerable to appeal."
Mr Charman is now planning to appeal against the decision. He was refused permission to appeal, but can apply directly to the House of Lords.
Mr and Mrs Charman married in 1976 when neither had much money. They had two sons and Mr Charman became considerably wealthy in the insurance industry, finally becoming head of the Axis group.
(KMcA)
John Charman, 54, the owner of the Axis insurance group, said that the amount awarded to Beverley Charman, 53, was "unfair", claiming that his offer of £20 million was enough, because she had been a housewife.
However, Sir Mark Potter, President of the family division of the High Court, said: "Neither in its method nor its result do we regard the judge's treatment of the husband's special contribution as vulnerable to appeal."
Mr Charman is now planning to appeal against the decision. He was refused permission to appeal, but can apply directly to the House of Lords.
Mr and Mrs Charman married in 1976 when neither had much money. They had two sons and Mr Charman became considerably wealthy in the insurance industry, finally becoming head of the Axis group.
(KMcA)
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