Axis boss fails to persuade court that £20m was enough
John Charman has lost his appeal to overturn the £48m divorce settlement awarded to his ex-wife.
Charman, who set up Bermudan reinsurer Axis, indicated he would take the case to the House of Lords.
The award is the largest of its kind in British history.
Simon Beccle, family law partner at City law firm Payne Hicks Beach said: "The judgment is significant because it means that trusts set up with assets generated during the marriage will continue to be vulnerable to attack on divorce. It attacks the whole efficacy of setting up a trust arrangement.
"The judgment confirms that special contribution is still a reason for departing from an equal division of the assets in 'big money' cases and may give some comfort to wealthy spouses (but clearly not Mr Charman). Marriage continues to be a risky venture particularly if a person stands to lose a fortune if a divorce ensues."
