Payne Hicks Beach

Payne Hicks Beach

11 March 2015

Baroness Shackleton’s High Court victory for Mandy Gray

Baroness Shackleton of Belgravia, the UK's leading specialist family lawyer, and her team has had a resounding victory for her client, Mandy Gray, after a drawn-out divorce battle.

High Court Judge, Mr Justice Holman, sitting in the Family Division of London's High Court has formally ruled that Mandy Gray should be paid "$100 million to $120 million" by her ex-husband, Randy Work, a former executive in the private equity company Lone Star.

The American tycoon refused to give his former wife a penny after their divorce and Baroness Shackleton's representation of her client was pivotal in winning the case. Mr Justice Holman ordered that the ex-husband should pay his wife, Mandy Gray, around £80 million.

Mr Justice Holman, sitting in London, rejected Mr Work's suggestion that he was entitled to more than his wife because of his "special contribution" to the marriage in making the couple rich through his exceptional business skills.

The judge told him: "It would, in my view, be unsatisfactory and gender discriminatory now to make an unequal award."

His stance led the judge to tell the 47-year-old: "I am not sure you and I are on the same planet."

In the witness box, Mr Work described how he had gone to Japan and made billions of dollars for Lone Star, and millions for himself, buying up real estate, including financially troubled golf courses, after the Japanese economy became stuck in a sharp downturn.

He told the judge that Ms Gray had been "a good wife" over 20 years and "a good mother" and would have been entitled to at least $70million (£46million) under the post-nuptial agreement they signed in October 2000.

But he argued that she should no longer be entitled to any of his money, or any of his property, after she came to court to seek a better settlement.

Mr Work argued she was only entitled to the £5million deemed to be her own separate property, an amount that would have been expected to fall to just over £3million when bills were paid. But Mr Justice Holman told him: "Having offered to pay her nothing, you now have to pay her tens of millions of dollars."

After further argument in court over the figures, the judge said the total the amount the wife was to receive in two lump sums would be $109,251,416 - £72.3 million. He ordered $60million be paid to Ms Gray within 28 days of his ruling and the whole sum within 90 days.

 

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