Wife wants jail for husband who won't pay divorce settlement

By Lenore Rice

The ex-wife of a man said to be worth £40million has asked the High Court to send him to prison because he has not paid any of the £17.5million lump sum she was awarded in the divorce settlement.

Oil tycoon Michael Prest and Yasmin divorced in 2011 and the Supreme Court eventually upheld a divorce settlement that awarded Mrs Prest a £17.5million lump sum and annual payments of £300,000. Mrs Prest, aged 51, told the High Court that she has not received any of the lump sum and is owed over £400,000 in annual payments.

She says that her ex-husband claims he has no money, despite going on what she describes as 'lavish' holidays all over the world. Mr Prest failed to attend the hearing because he was on a 3 week holiday in New York with his children. During the divorce hearing the court held that Mr Prest had attempted to conceal some of his assets.

Mrs Prest said she did not want her ex-husband to go to prison but says she has "no alternative" in view of his refusal to pay the money he was ordered to as part of their divorce settlement. The High Court will decide whether to imprison Mr Prest for being in contempt of court.

If you require legal advice or information from a divorce solicitor in Northern Ireland, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 1363.