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The £27,000-a-month mortgage bill at centre of bitter divorce battle
Peter Dominiczak05.11.09
The former chairman of ICI and his second wife are fighting each other at the Appeal Court over their “super-prime” £14 million west London home.
Charles Miller Smith and estranged wife Molly had been living in Kensington for five months when he moved out citing difficulties in their marriage, her barrister, John Wilson, told judges.
Although the pair were briefly reconciled, Mr Miller Smith, 69, left for good in January last year while Mrs Miller Smith, 44, stayed on at the property.
He has since filed for divorce citing her alleged unreasonable behaviour, said Mr Wilson.
In July a High Court judge ordered that the house be sold.
Lawyers for Mr Miller Smith said that it was unreasonable for him to have to meet the monthly mortgage payments of around £27,000 and he could not afford to do so.
Mrs Miller Smith is challenging the ruling of Judge Philip Sapsford QC, arguing that his decision is “flawed”.
The court heard that Mr Miller Smith and his wife met when he was chairman of ICI between April 1999 and December 2001, and she was the company secretary.
Father-of-three Mr Miller Smith, whose first wife died of breast cancer in 1999, began a relationship with Mrs Miller Smith in June 2003, marrying her in June 2004, said Mr Wilson.
When their relationship began, he owned a house in Chester Row while she had a flat in Hampstead. They purchased the Kensington home for £6 million.
Mr Wilson told the court that the property is “super prime” and Mr Miller Smith can afford to make payments on the mortgage — his wealth being demonstrated by the fact that he recently took out a lease on a country estate.
His lawyers have previously said that he has a monthly net income of about £27,000 — the same as the mortgage payments on the house.
The case continues.
Reader views (3)
Silly old fool! They look like Vanity and Desperation in one unhappy package
- Dorothy P, woking
If she was the Company Secretary for ICI, she must be very wealthy anyway. Greedy . As they were only married for about five years and have no children, I don't know why she expects so much.
- Sue R, London
I am afraid I am reminded of the old saying "no fool like an old fool".
- Very Very Angry At Paying Tax For Mp'S Expeses, Home Counties
