The High Court has ruled against upholding a blanket ban on reporting the UK’s wealthiest divorce case, potentially setting a precedent allowing the media to publish details of divorce proceedings, no matter how much how much money is at stake. Mrs Justice Roberts held that everything conducted in a private hearing of the case at hand can now be published, except financial information relating to the divorcing couple’s business and personal affairs.
Hedge fund tycoon wanted to keep details private
The divorce “test case” involved Sir Christopher Hohn, a hedge fund tycoon, and his American wife, Jamie Cooper-Hohn. Mrs Cooper-Hohn is seeking several hundred million pounds from her husband, which would amount to the largest divorce award made by a British court, eclipsing the highest payout to date which is the estimated £100-200 million paid to the ex wife of Russian oligarch Boris Berezovsky, Galina Besharova. Until now, journalists following the Hohn case have not been permitted to report anything but they have been allowed to sit in on the private hearings. Although many aspects of the case can now be published, the judge preserved certain restrictions, ruling that there was a "legitimate expectation" that Sir Hohn’s financial affairs be kept private in case they affect shares in a public company.
The most generous philanthropists
The Children's Investment Fund Foundation (CIFF), a charity established by the Hohns, is believed to hold $4.3 billion and the couple have been described as the UK's most generous philanthropists. But establishing their true wealth is now a key element of their divorce battle. It seems that the bulk of their personal wealth is made up of The Children's Investment (TCI) fund management UK, a hedge fund whose profits are mainly returned to CIFF. While Mrs Hohn argues that the TCI holding is worth £870 million, her husband maintains that its actual worth is only a fraction of that figure at £64.3 million.
No matter how much your divorce is worth, it’s worth getting it done properly
The sums involved in most divorces will be in the thousands rather than the millions of pounds, but it’s important to get the right advice so you know where you stand if you’re facing one of life’s most stressful situations. The experienced team of family solicitors at Crisp and Co understands that anyone facing a separation will want a swift conclusion. We can help you use the best techniques in your particular situation, whether this involves mediation or court action. Give us a call to find out more about our cost-efficient divorce services.