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Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Latty88(f): 1:07pm On Feb 23, 2012 |
[img]http://news2.onlinenigeria.com/thumbnail.php?file=images/michael_Prest_376887679.jpg&size=article_medium[/img] A wealthy Nigerian-born, British-based oil baron has been granted permission to use Nigerian tribal law to appeal a $21 million divorce payout to his former British wife, the Telegraph has reported. Michael Prest, the 50 year-old founder of Nigerian energy trading firm Petrodel Resources, split from his wife in an acrimonious divorce in 2008. During a British High Court hearing on the divorce in October last year, the presiding judge ordered the tycoon to pay his former wife cash and assets worth over $20 million. However, Prest has applied to appeal the court’s decision on the grounds that his Petrodel’s assets do not belong to him, but are held in trust for his children, siblings, nephews and nieces in Nigeria, under Nigerian Itsekiri customary law. The oil baron claims that his company, Petrodel Resources Ltd, was established in 1992 with $13,000 in start-up capital which was provided by his late father. As a result, under traditional law, his company and assets are not owned entirely by him, but by his extended family; he mainly acts as custodian of the wealth. The tycoon’s attorney Martin Pointer disclosed to the court that under customary law in Nigeria, Prest (who is the first-born son of his family) has a historic responsibility to use the family “inheritance” to look after his siblings and their children. Prest’s case is also helped by the fact that his younger brother went to a Nigerian High Court in 2009 and obtained a declaration which states that Petrodel Resources is a part of their late father’s estate. Michael Prest also previously acquired a court order from a Nigerian court which forbids him from sharing information about Petrodel and its assets with third parties. Hence, it is difficult to ascertain the true market value of Petrodel resources. But the former wife, Yasmin Prest, 49, is crying foul. She told the court that Petrodel is “100 per cent owned and controlled” by her former husband. Last October, during the original court case in London, she had claimed that her former husband was worth ‘many tens, if not hundreds, of millions of pounds’. She demanded a divorce payout of about $40 million, plus about $1 million a year for upkeep of herself and the four children she bore with the tycoon. Prest had previously offered her the equivalent of $35,000 a year and a lump sum of about $2.5 million. The court has not yet set a date for the full appeal. Michael Prest, an extremely reclusive oil trader and former protégé of controversial commodities trader Marc Rich, founded Petrodel resources in 2001. The company has extensive oil exploration interests in Nigeria, Tanzania, Zambia and Uganda. http://www.forbes.com/sites/mfonobongnsehe/2012/02/21/nigerian-oil-baron-to-fight-21-million-divorce-with-african-law/ |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Mr9ndhalf: 3:23pm On Feb 23, 2012 |
;d ;d she wan find maga. . . |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by agiboma(f): 10:11pm On Feb 23, 2012 |
he is wicked and mean as is the case with most rich men, why cant he give her what she wants, its for the good and upkeep of his 4 children omg |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Metalgoong(m): 10:26pm On Feb 23, 2012 |
Women = vultures!! 3 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by queensmith: 11:31pm On Feb 23, 2012 |
Can you post the link please. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 12:24am On Feb 24, 2012 |
I don't think $21mm is too much to pay, especially if the man is worth as much as I think he is. She has four children for him!!! Alimony+Child support alone would total more than $15mm. This razz Itsekiri man thinks he can play the UK court system!!! Better men than he have tried and failed woefully! He needs to go ask Fernandez about his divorce experience! 1 Like |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Metalgoong(m): 12:36am On Feb 24, 2012 |
moremi2008: Why not pay the money for him! 2 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 12:40am On Feb 24, 2012 |
Metalgoong: Did you miss the second half of that sentence. Besides, nah me marry wife?! Abeg, comot! 4 Likes 1 Share |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by mission08: 9:12am On Feb 24, 2012 |
Wow , $21million for a divorce pay! That britico wife is not easy o, what an easy way out. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by agiboma(f): 9:47am On Feb 24, 2012 |
Easy way out I think not the woman has probably suffered in many others ways being married to this man. Just look @ how hard he is finding it to give her a reasonable settlement. This man is wicked! 1 Like |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Okijajuju1(m): 10:04am On Feb 24, 2012 |
She wan use Naija man brain. . . . . Lailai. . . Her papa!! She no go see pass 1000 pounds for transport back to Naija on Virgin atlantic cheapest ticket. . 3 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by eghost247(m): 11:11am On Feb 24, 2012 |
agiboma:[size=15pt]are you joking he should pay 21million Dollars do u think money is made on trees this doesn't necessarily mean she wont get something and how do u know he doesn't take care of his children mean[/size] 2 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 1:14pm On Feb 24, 2012 |
agiboma: You are a cretin! Children need $40m plus additional $1m a year for their upkeep? moremi2008: You are a bloody mooron! Why should he pay $21m, you dumb fck? agiboma: Really? And you can not conclude he has suffered in many other ways married to a woman that wants to reap where she did not sow? A reasonable settlement is what she worked for plus any opportunity cost plus anything he willing wants to give her. 4 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 1:19pm On Feb 24, 2012 |
Sagamite: Laws, I am sure they have them where ever you are living. If he didn't sign that pre-nup, then he's gonna pay up! There are limits to what men can get away with in a civilized world. You can't marry a woman, impregnate her four times, probably keep her as an housewife and then push her out when you're done with pennies, not if you're worth 9 figures. The courts will make sure they get at sizable portion of your largess. I don't make the rules. Go rage against your Queen or better still, go join a monastery! 2 Likes |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by eghost247(m): 1:23pm On Feb 24, 2012 |
Lol |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 1:25pm On Feb 24, 2012 |
moremi2008: You are a cretin! What you said did not refer to laws. You expressed an opinion of entitlement. Did he force her to be a housewife in a "civilised" country? She could not refuse? She did not have free will? FOOOOOL! She does not in a "civilised" country have the personal choice to decide if she wants to be pregnant and how many times? Cretin! You put arguments like if she was forced to do anything. Tell me why she deserves $21m. So because laws exist means they can not be dumb laws? 1 Like |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 5:41pm On Feb 24, 2012 |
Sagamite: Weak arguments from a weak mind. Was the man forced to marry the woman? To impregnate her? It was a union by mutual consent. You want to marry and have babies, then get ready to provide for them in proportion to your net worth especially if you're dumb enough to not sign a pre-nup! Whether the law is dumb or wise is another topic for another thread. If the worwor Itsekiri man wanted to avoid paying gbemu alimony and child support, he would have gone to his village to marry and then raised his family in Naija! It's called regulatory arbitrage! He wanted his kids raised in the Queen's garden and now its too late to cry over spilled milk! 1 Like |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 7:25pm On Feb 24, 2012 |
moremi2008: You are a cretin! Who said he should not provide for his kids? You never referred to laws, you dumb fck! Fooool, explain to me how you concluded she was worth the 21m? Which child needs such sums to be raised? Because a law is dumb does not mean you should vomit the philosophy like a cretin and say it is "civilisation". What did I tell you about using your brain? |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 8:28pm On Feb 24, 2012 |
Sagamite: You horrid little dunce! I didn't refer to laws? Go back and re-read. Granted, I used "courts" and "rules" instead of "law" but only a fool would belabor the distinction. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 8:30pm On Feb 24, 2012 |
moremi2008: You are a cretin! You said $21m is not too much to pay. That is a personal opinion and justification. Explain how she is worth $21m, dumbo! |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 8:50pm On Feb 24, 2012 |
Sagamite: She is worth whatever the courts say she is worth. It's an appeal of a prior court case, remember? Empty barrel! Go take your meds instead of coming on here to rant against imaginary injustice! |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 9:01pm On Feb 24, 2012 |
moremi2008: You are a bloody cretin! So as far as your dumb life is concerned, you will base your opinions on any faulty law. It is not surprising when you have cotton wool for brains. Air head! |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by moremi2008(m): 9:23pm On Feb 24, 2012 |
Sagamite: Go bore somebody else with your foolishness. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by ronkebp(f): 9:29pm On Feb 24, 2012 |
Sagamilo, why the matter dey pain you now, are you guys related? He should just pay the money, because if he is not careful, he might pay more than that to her. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by agiboma(f): 9:31pm On Feb 24, 2012 |
@ sagamite I hope she got a good lawyer oooo one that can dig up soo many things aka "assets" hope the lawyer can demonstrate to the court his full value so she can get more than what she asking for. lol She is entitled to half his worth in civilized countries. Ohh I am wishing her the best, as she takes him to the cleaners. rotflol |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 9:42pm On Feb 24, 2012 |
moremi2008: Daft cretin! ronkebp: This one no dey pain me o! This homie is smart. I have already got my notebook out and stealing part of his strategy. I need to pay a Yoruba Professor to educate me on Yoruba customary law. agiboma: Let me see the lawyer that can dig up assets in Nigeria. Let me even see whether that lawyer fit defend case infront of Itsekiri customary judge against an Itsekiri son of the soil. Civilised my arse! |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Nobody: 5:51am On Feb 25, 2012 |
. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by olaak1(m): 10:24am On Feb 25, 2012 |
@agiboma u think that easy; what u toiled 4 the whole of ur life one silly "Oyinbo" lady wants slash it into two just because she had children 4 u? It's pure bulls hit; my candid advice 2 that my Naija brother is to use every legal means to fight 4 his right if possible let him have his 4 children in his care pls don't. Play "mugu" 2 any "maga" white woman you're Nigerian abeg shine ur eyes! |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Nobody: 10:26am On Feb 25, 2012 |
Pay her off you silly man |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 10:39am On Feb 25, 2012 |
jennykadry: The man has tried to na. He offered her $2.5m cash and $35K a year till she dies. That is enough for her to use to build her own multi-million empire if she feels she is worth $21m. |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Nobody: 10:44am On Feb 25, 2012 |
Comnpared to what he is worth? mba nuuu. How can she keep up with her christian louboutin, louis vuitton, gucci, alexander mcqueenss, chloe, prada, chanel e.t.c |
Re: Nigerian Billionaire Battles British Wife Over $21million Divorce Payout by Sagamite(m): 10:55am On Feb 25, 2012 |
jennykadry: Your English is so fcking good. You combine grammar well. Keep it up. She should go and be worth something and keep buying her muslim louboutin etc. He built his own wealth with $13K. She is being offered $2.5m and even a $35K living expenses back up. If she feels she is worth millions like he is, then she should work for it like he did. She already has several legs up than he had. This is HIS money, let her go and make HERS! |
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