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Lottie Tyler asks how effective the bankruptcy and insolvency courts are likely to be in enforcing payment of a financial order ?on divorce  

22 September 2014

It is said that Scot Young’s business empire “imploded” in March 2006 on the back of one disastrous Russian property deal. Six months later he separated from his wife Michelle. Divorce proceedings were issued in 2007 and on 9 April 2010, with the financial proceedings relating to the divorce still unresolved, Mr Young was made bankrupt.

Michelle Young did not believe that he had lost his entire fortune and neither did the family court. Mr Justice Moor made that clear in awarding Mrs Young a lump sum of £20m as her financial settlement. However, he also made it clear that he realised determining what sum was due and her actually receiving that sum were two separate matters.

His role was limited to deciding the amount of her settlement and, while his was the final judgment i...

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