£46million divorce settlement makes Heather Mills one of UK's richest women

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Heather Mills is to receive a divorce settlement of up to £46million from Sir Paul McCartney.

The former model will get an immediate lump sum payment of £25million from the ex-Beatle.

But she has told friends she also hopes to be given maintenance of up to £1.5million a year as the main carer of the couple's four-year-old daughter, Beatrice, until the girl turns 18.

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Pay day: Heather Mills will reportedly receive the equivalent of £46million

Since it is directly related to Beatrice however, the maintenance figure may never be made public in the settlement handed down by High Court judge Mr Justice Bennett.

Miss Mills, 40, had been fighting for £2.5million a year from 65-year-old Sir Paul to cover such costs as security for her and her daughter.

But she is understood to be expecting much less in the final agreement, which is also linked to a confidentiality clause.

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Huge legal bill: Sir Paul hired Prince Charles's solicitor Fiona Shackleton (pictured together outside court in February)

Mr Justice Bennett is yet to officially tell either party his decision on the level of any annual payment – if indeed any is given.

Details of the settlement were reportedly contained in a preliminary High Court judgment sent to the estranged couple and their legal advisers this week.

The official verdict will be handed down on Monday, bringing an end to one of the most costly and acrimonious divorce battles in British history. Legal bills alone could be as high as £10million.

The judge sent each team of lawyers his preliminary judgment on the lump sum this week under strict orders not to reveal the contents.

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Lump sum: Sir Paul will pay Heather Mills a lump sum of around £25 million, plus an annual amount for their daughter, Beatrice

Neither party is likely to object to the basic details being divulged.

A source said: "On an analysis of the case law, Mills was always going to receive around £25million. I think it's fair to say the judge has not erred from that.

"The judgment is very thorough. He has gone into every detail to make sure neither party can have grounds for appeal.

"It's fair to say the judgment is very long."

Depending on the level of the annual payment, the settlement could become the biggest in British divorce history.

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Settlement: Sir Paul and Heather with their daughter Bea last year

A summary of Mr Justice Bennett's findings is also expected to be made public, ending almost two years of speculation about the size of Miss Mills' payout.

Both parties are expected to be pleased with the outcome.

Sir Paul will be relieved he is not giving away more of his money, while Miss Mills will leave the High Court on Monday as one of the wealthiest women in Britain.

It will be very difficult for her to appeal against the settlement without bolstering her image as a "gold-digger", a label she has vehemently objected to

The source said: "The judgment on the whole is reasonable and acceptable and appears very sensible.

"I doubt there will be an appeal – although who knows?"

According to the source, Sir Paul's claim that he is not nearly as wealthy as has been previously estimated has been accepted by Mr Justice Bennett.

Rich lists have put his fortune at £825million and Miss Mills believed it to be higher.

But the judge appears to have agreed to evidence given by actuaries and accountants that the star is worth much less – the headline figure is not clear – restricting the final lump sum settlement to Miss Mills.

The source said: "It is always a problem in divorce cases proving what the husband is actually worth.

"In this case, like others McCartney had the information and it was impossible for Mills to prove otherwise."

But Miss Mills will also be delighted that her decision to represent herself – she parted company with her law firm Mishcon de Reya in the run-up to the six-day hearing last month – has not backfired.

 

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