A recent high-asset divorce outcome in Hong Kong has media reports abuzz with the size and details of the settlement. When it comes right down to it, though, and excepting the staggering amount involved, many of the underlying factors and key considerations involved in determining the settlement are closely similar to what is important in most divorces involving substantial assets.
That is true whether the divorce is in Georgia, Los Angeles or, as in this case, “Asia’s divorce capital,” as described by a report in the Hong Kong Standard daily newspaper.
In coming up with a just and reasonable settlement in the divorce case of billionaire tycoon Samathur Li and his ex-wife Florence Tsang, High Court Justice John Saunders had to comb carefully through the customary areas of inquiry. That included careful review of all of Li’s extensive business interests, an accurate valuation of his realty holdings and personal property, including his art, jewelry, automobile collection and yachts, as well as a consideration of what Florence brought to the marriage and her customary style of living.
That came to a settlement of more than $150 million in U.S. dollars for Florence, which was actually only about 20 percent of the couple’s assets.
Although Florence — who was married to Li for eight years — had asked for 55 percent of Li’s holdings, she nonetheless expressed happiness with the result.
Saunders also ordered Li to pay Tsang’s legal fees.
Source: AFP, “Hong Kong tycoon’s ex-wife wins huge divorce payout” Dec. 2, 2011