Weather Tonight: 4°c Partly Cloudy Night Morning: 8°c Cloudy

Showbiz

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

Updated 10:59am on 17 Mar 2008


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.

Scroll down for more ...

Paul McCartney and Heather Mills court 13/02/08

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.

Scroll down for more ...

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.

Scroll down for more ...

Heather and Paul

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.

Scroll down for more ...

Sir Paul, Bea and Heather

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.

Reader views (1)

 Add your view

Charity folks this is your lucky day because Heather said she would donate 85% to you so be ready. Heather would never lie now would she? Please tell me she no longer has the title "Lady" because that was never what one would call Heather.

- Liz, USA, 14/03/2008 14:59
Report abuse


Add your comment

 

Terms and conditions Make text area bigger You have  characters left.

We welcome your opinions. This is a public forum. Libellous and abusive comments are not allowed. Please read our House Rules.

For information about privacy and cookies please read our Privacy Policy.


 

 

  • Russell Grant stars as he dances into Wizard spell Sophie Evans and Russell Grant When Nancy Dell'Olio was bidding for the public's affection on Strictly Come Dancing, Russell Grant was one of her fiercest rivals
  • Cheryl Cole wants new home in Malibu Cheryl Cole Cheryl Cole keen to relocate to California on a permanent basis in a bid to crack the States
  • Russell Brand moves on with mystery woman Katy Perry and Russell Brand Russell Brand has moved on from Katy Perry with a mystery woman
  • Stones would love to play at the Games, says Ronnie Wood Ronnie Wood Guitarist revealed that Rolling Stones had been in discussions about playing during the Games and in other concerts
  • Mother's grief at Whitney Houston's final journey Whitney hearse Whitney Houston's mother Cissy looked distraught today as she brought her daughter's body back to a funeral parlour in her home town
  • Dermot O'Leary is top TV choice for Valentine's Day Dermot O'Leary Dermot O'Leary proved he has the X factor after he topped a poll of the nation's women asking them to name their top TV Valentine
  • Rosie Huntington-Whiteley named top style icon at Elle Awards Rosie Huntington-Whiteley Rosie Huntington-Whiteley has been named the year's top style icon at the Elle Style Awards
  • Al Pacino honoured at White House ceremony Al Pacino Al Pacino was among a host of honourees awarded the 2011 National Medal of Arts at a ceremony in Washington
  • Whitney Houston was dead before she went under the water Whitney o2 Singer Whitney Houston died from a mix of drugs and alcohol - and did not drown in her hotel bath, according to reports
  • Rhys Ifans accused of assault Rhys Ifans Rhys Ifans alleged to have slapped a guest in a late-night argument in a suite at London's five-star St Pancras Renaissance hotel
  •