Newcastle’s top divorce lawyer Lucinda comments Michelle Young, the estranged wife of the recently jailed businessman, Scot Young, has brought a financial remedy claim against her estranged husband and recently jailed businessman, Scot Young. The proceedings are highly contentious and Ms Young has adduced forensic evidence which seeks to establish that her husband had assets of £700m two years after he was declared bankrupt.
The judge, Mr Justice Moor, is making a fresh attempt to discover how much the property dealer is worth. Rex Howling QC for Michelle Young, told the Judge in written submissions:
“Mrs Young is adamant that Mr Young has access to large sums of money and that these funds are secreted in cleverly constructed offshore tax vehicles.” Ms Young also told the Court that she would be prepared to settle the case for a sum of £300 million together with her legal fees.
Mr Young is representing himself and maintains that he is bankrupt. In January, Mr Justice Moor jailed Scot Young for a ‘flagrant’ contempt of court for failing to comply with court orders for disclosure.
Ms Young has been given permission to cross-examine some of the country’s best known business leaders including Sir Philip Green, the owner of Topshop, on witness statements they have made in the proceedings.
Michelle Young has said the case was like no other in the family division of the high court. “Vast amounts of assets have been concealed,” she said. “It was a very long marriage. My children and I should be entitled to a fair share of those assets.”
The hearing continues.