Trader ordered to pay security pending divorce appeal

Divorce|October 17th 2014

Oil trader Michael Prest has been ordered to pay £20,000 in security against his wife’s costs in a pending appeal.

The businessman had appealed an order issued in July committing him to prison for failing to pay court-ordered maintenance to ex-wife Yasmin.

The order was suspended until 28 October, on condition that the arrears be paid by that point.

Mr Prest appealed, requesting a further suspension of the sentence until the completion of the appeals process.

Lady Justice Gloster granted the stay, but also considered a request by his former wife’s legal team for the security payment. Acting for Mr Prest, James Turner QC argued that the payment would be restrict his client’s right of appeal but the judge was not convinced, ordering that the businessman pay the monies within 28 days. He will be unable to proceed with his appeal if he does not do so.

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