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Cost of Malaysian tycoon’s divorce reaches £5 million

Divorce | 22 Oct 2015 0

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.

The blog team at Stowe is a group of writers based across our family law offices who share their advice on the wellbeing and emotional aspects of divorce or separation from personal experience. Guest contributors also regularly contribute to share their knowledge.

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