Mucca's brief wins wife £48m payout

The housewife who won more than £48million in England's biggest ever contested divorce payout said today: "I know it's a huge sum but it's fair."

Three Appeal Court judges found that the ex-wife of insurance magnate John Charman is entitled to the money in a landmark ruling.

Today's judgment confirms London as "the divorce capital of the world" and could lead to even more "divorce tourism" by disgruntled exwives seeking payouts.

The case has been watched closely by lawyers currently negotiating the settlement following the marriage break-up of Sir Paul Mc Cartney and Heather Mills. Leading divorce QC Martin Poynter who represented Ms Charman, of Sevenoaks in Kent, is also acting for Ms Mills.

The Appeal Court judges acknowledged the dangers and called for a thorough review of the law. But outside court, Ms Charman, 53, insisted she deserved every penny.

"I acknowledge the sum is huge by any standards, but the Court of Appeal has decided it fairly reflects the contributions made by John and me during our 28-year marriage," she said.

Mr Charman, 54, was not present for today's hearing but his legal team pledged to attempt to take the fight to the House of Lords for a final decision.

Mr Charman built up a major career in the City before establishing his own business, which created the family wealth of £131million.

The couple married in 1976, divorced in 2005 and have two grown-up children.

The key dispute concerns the £70million trust fund Mr Charman had set up for his children in Bermuda, where he is now based.