Wife of Laura Ashley boss awarded £64 million divorce settlement

divorce-settlement

A Family Court has awarded the former wife of Laura Ashley boss Khoo Kay Peng £64 million, following a 42-year marriage.

Mr Justice Bodey said Pauline Chai’s settlement should be made up of cash and property.

Ms Chai was seeking £100 million from her former husband, claiming their assets to be worth at least £205 million.

Mr Peng, non-executive chairman of Laura Ashley Holdings, argued that she should receive about £9 million.

Ms Chai, a former Miss Malaysia, told the Court that she had contributed to her husband’s success by being a “traditional” wife. She also claimed that she and Mr Peng had made a sharing agreement entitling her to half of the family wealth.

“I looked at marriage in the traditional way,” Ms Chai told Mr Justice Bodey at hearings in the family division of the high court in London.

“He is the breadwinner and I stayed at home and looked after the children. It was a daunting task.”

The couple, who have five children between them, reportedly spent more than £6 million on lawyers since their marriage broke down. The Judge granted a decree nisi in January, nearly four years after the pair filed for divorce.

The breakdown of the divorce settlement in expected to be published in the near future.

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