Clive Joy-Morancho, who formerly lived with his ex-wife Nicola Joy in the south of France and on the Caribbean island of Bequia, is believed to own a total of 35 classic cars totalling £20 million in value. Solicitors for Mrs Joy, 48, were seeking for part of the collection to be transferred to their client in a divorce settlement. They believed that Mr Joy-Morancho, 58, owned the vehicles under his own name, and that he was attempting to hide assets from his estranged wife and from the courts.

Court rules against estranged wife

However, Judge Sir Peter Singer at the High Court has now ruled that Mr Joy-Morancho can keep every one of his classic cars, as they aren’t actually owned under his name. He was arguing that the cars were owned by another company, to which he was somehow connected, meaning that they weren’t fair game in a personal divorce case.

Commenting on the outcome of the case, the victorious husband’s solicitor Sofia Moussaoui told the Guardian:

“I am extremely pleased with the main thrust of the judgment, which demonstrates that it is possible to refute what now seems to have become the presumption in high-net-worth family cases: that a husband who claims that certain assets do not belong to him and are not available to him and the court for division must be making a false presentation.”

Cash claims still to be decided

This particular issue may now be resolved, but there are more battles in store for the estranged husband and wife at the centre of this case. Nicola Joy is arguing that she is due a cash lump sum of £27 million, as their combined wealth was £54 million. However, Clive Joy-Morancho is arguing that he is currently facing financial ruin and that his former spouse should only receive a ‘nominal’ maintenance payment – and also claims that most of the wealth was derived from his own business activities.

Divorce settlements – how to smooth out the complications

Declaring and dividing assets in divorce cases can occasionally be straightforward, but for most separating couples – it can be a very complicated business. This is especially the case when a couple have been married for several years, acquiring assets in both names and as a couple. Without expert advice and help to sort out these assets, divorce cases can soon become complicated, drawn-out and quite unpleasant.

To make the whole process go far more smoothly and to make sure that assets are fairly disposed of on both sides, you need an expert in your corner. Get in touch with Tracey Miller Family Law, a team with vast experience in divorce cases of all kinds, from the simple to the extremely complicated.