Businessman wins divorce spat over vintage cars worth £20 million – Telegraph.co.uk
A judge has ruled in Mr Joy-Morancho’s favour – following a hearing in the Family Division of the High Court in London – and dismissed Ms Joy’s claim for the transfer of cars to her.
Sir Peter Singer analysed arguments earlier this year and published a ruling today.
The couple had lived in on the Caribbean island of Bequia and in a chateau in the south of France when married, the court heard.
Ms Joy had started divorce proceedings after making domestic violence allegations, said the judge.
Sir Peter said the “substance” of the couple’s wealth derived from Mr Joy-Morancho’s “business activities”.
And he said there was “extreme” disagreement over how much Ms Joy should get as a result of the marriage breakdown.
Ms Joy argued that there was £54 million in the pot and wanted a lump sum of £27 million.
Mr Joy-Morancho said he was facing “financial ruin” and argued that Ms Joy should get “nominal” maintenance only.
The judge said he would have to decide whether Mr Joy-Morancho’s “plight” was “genuine or a contrived facade” – and indicated that he would make rulings on Ms Joy’s cash claims at a later date.
Sir Peter indicated that the car collection included a Ferrari, bought for about £5.5 million three years ago, and an Alfa Romeo. He said two “particularly rare and exceptional vehicles” were a McLaren F1 and a McLaren P1.
The judge had made an order in 2014 “restraining” Mr Joy-Morancho from “disposing of or dealing with” a 1928 Bentley racer he had bought for nearly £400,000 in 2009.
Mr Joy-Morancho had said the Bentley was “personally owned” – and the judge indicated that it was not part of the car collection about which he had been asked to make decisions.