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Monday, March 17, 2008

Breaking news: Paul McCartney divorce details

Bulletin #2: The UK Telegraph reports Heather will appeal. MSNBC.com has a
video interview with Heather Mills discussing the settlement. She said it
was an amicable settlement, but criticized Paul's lawyer, Fiona Shackleton,
saying she called her every name in the book, and recommended people do
their own legal work. (NBC said the settlement was $48.6 million.) She also
said she wouldn't have been commenting on the settlement had the judge not
made it public.

Bulletin #3: Heather was quoted in the UK Telegraph as saying she had been
asking for £125m ($253,675,246) and Paul had offered £15.8 million
($32,064,551).

As he left court, Paul said "all will be revealed" and that a statement
would be made shortly.

Bulletin #4 (10:45 a.m.) From teletext, which has the most details of the
court hearing The judge said the fundamental issue was what financial
provision should be made for Miss Mills, and that she had sought an award of
almost £125m.

Sir Paul proposed his wife should exit the marriage with assets of £15.8m,
inclusive of any lump sum award.

Mr Justice Bennett ruled that Sir Paul McCartney should pay Heather Mills a
lump sum of £16.5m, together with assets - including property - of £7.8m.

This means she will exit the marriage with £24.3m, inclusive of a deemed
figure of £500,000 referable to her overspending while they were separated.

The judge found the total value of the ex-Beatle's assets, including
business assets, was about £400m and not £800m.

And this:

The judge refused to permit either party to raise as an issue the alleged
conduct of the other on the broad ground that it was irrelevant.

The lump sum of £16.5m is made up of a sum of £14m as the capitalized figure
for Miss Mills's income needs and a sum of £2.5m to buy a property in
London.

Financial provision for their daughter, Beatrice, consists of a payments of
£35,000 per annum, with Sir Paul paying for her nanny and her school fees.

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