The Independent reported that Michael Prest had received a four-week suspended prison sentence following his failure to pay £360,000 in maintenance to his former. wife. This decision followed the high-profile Supreme Court battle, in which Mr Prest sought to hide his assets behind corporate structures.
The High Court ruled that Mr Prest, who had been able to spend more than £250,000 on luxury holidays, was wilfully refusing to pay maintenance due to his ex-wife. Mr Prest failed to attend the hearing, claiming that he was ill. He claimed that his oil-trading career had failed and he was unable to satisfy the orders.
Vardags president, Ayesha Vardag, who previously acted for Ms Prest, told the paper: “This is a very welcome decision. The Family Courts are finally showing they have teeth. It’s the only way we’re going to get a justice system that actually works.”
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