Executive faces huge divorce payout

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Published: Friday 6th March 2015 by The News Editor

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A highly successful businessman from the United States “not willing to pay a penny” in a multimillion-pound divorce battle has been told by a judge that he must share his fortune equally with his wife and hand her around £80m.

Randy Work, a former key executive in Texas-based private equity company Lone Star, had argued in court that she was only entitled to £5m.

Mr Work, 47, said that “unfortunately” the mother of his two teenage children, Mandy Gray, 45, had failed to abide by a Texan post-nuptial agreement.

She was therefore prevented from receiving a more substantial sum, or anything other than the £5m deemed to be her own separate property, an amount expected to fall to just over £3m when bills are paid.

But Mr Justice Holman, sitting in London, disagreed and told him: “Having offered to pay her nothing you now have to pay her tens of millions of (US) dollars.”

The judge told Mr Work that he had offered not a penny “and you are going to have to pay her 100m-120m dollars”.

Published: Friday 6th March 2015 by The News Editor

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