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Ritchie's Divorce Settlement From Madonna: $75 Million
Legal Week
December 17, 2008
Guy Ritchie has been awarded a divorce settlement reportedly worth at least $75 million (49 million pounds) from Madonna -- in a decision thought to make it one of the biggest divorce agreements in U.K. history.
The divorce saw Ritchie turn to Manches' highly regarded family law partner Helen Ward for advice on his split from the pop icon after eight years of marriage.
It marks the latest high-profile divorce case for Ward, who last year secured a $74 million (48 million pounds) payout for client Beverley Charman -- the estranged wife of insurance magnate John Charman. Madonna's U.K. counsel has not been confirmed, but she has been connected with Payne Hicks Beach's much-feted divorce specialist Fiona Shackleton.
Shackleton has represented a number of celebrity divorcees, including former Beatle Paul McCartney in his break up from Heather Mills. The McCartney case resulted in a $383 million (25 million pounds) settlement for Mills, in what was widely viewed as a tactical victory for the singer’s legal team.
The Madonna/Ritchie split, which was formally announced in October, has been closely watched by lawyers, partly because it is a rare example of a high-net separation where the wife is the richer party. With an estimated wealth of $458 million, (300 million pounds) Madonna is believed to be one of the world's richest women.
The couple also have two children, although it is understood that no decision has been made in terms of custody.
The settlement figure -- on Monday reported to be between $76 million to $92 million (50 million pounds to 60 million pounds) -- is understood to include the value of the couple's countryside home in Ashcombe, Wiltshire.
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