A divorcing couple have spent almost a third of their wealth on legal fees as their acrimonious divorce continues.
The estranged pair run a firm supplying luxury bath wear to hotels and spas. Thanks to its success they accumulated around £6.6 million in assets: but have already spent close to £2 million of that arguing in court.
At a pre-trial hearing, High Court Judge Mr Justice Holman described the case as a “scandalous waste of court time”.
He declared:
“They have spent a third of their wealth slugging it out. These people have completely lost touch with reality. I don’t know where the responsibility lies; it’s probably shared.”
Saying the couple were “heading for catastrophe”, the Judge noted that a full court hearing could cost them an additional £200,000.
“Sometimes one can see cases where people are just absolutely determined to go on and on and on. I don’t know on which side the fault lies but this seems to be that sort of case.”
Interesting how Judges don’t say anything when a divorcing couple with 50K equity in their house spend 25K on solicitors so effectively squandering half their wealth. Perhaps if solicitors didn’t charge such extortionate rates, less of people’s wealth wouldn’t be lost slugging it out !!!