Cost of Malaysian tycoon’s divorce reaches £5 million

Divorce|October 22nd 2015

Malaysian business tycoon Khoo Kay Peng and estranged wife Pauline Chai have spent approximately £5 million on their ongoing divorce proceedings, the media has reported.

Mr Kay Peng, now in his mid-70s, is chairman of high street design chain Laura Ashley. He was married to Ms Chai for 43 years and they had as many as five children together. She filed for divorce in 2014.

Since the split, former beauty queen Ms Chai has lived on a £30 million estate in Hertfordshire, while he  continues to reside in Malaysian capital Kuala Lumpur.

At an Appeal Court hearing earlier this week, counsel for the husband announced the amount spent on legal fees to date, claiming that Ms Chai had spent the majority.

The couple continue to dispute the jurisdiction of the English divorce courts over the case, with Mr Kay Peng still hoping for resolution of their financial settlement in the Malaysian courts.

Mr Peng’s fortune is estimated at £440 million.

Author: Stowe Family Law

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