Wife 'has none of £20m split deal'

Updated: 

File photo dated 15/11/13 of Michelle Young, the estranged wife of a bankrupt property tycoon who remains empty-handed more than three months after being awarded ?20 million by a judge, a High Court hearing in London has been told. PRESS ASSOCIATION Photo. Issue date: Friday March 14, 2014. A lawyer representing Michelle Young, 49, told judge Mr Justice Moor that there were

The estranged wife of a bankrupt property tycoon remains empty-handed more than three months after being awarded £20 million by a judge, a High Court hearing in London has been told.

A lawyer representing Michelle Young, 49, told judge Mr Justice Moor that there were "zero recoveries" from Scot Young, 52.

Mrs Young wants a judge to order a meeting of Mr Young's creditors as she continues to try to trace assets.

Mr Justice Moor - who sits in the Family Division of the High Court - transferred her application to a judge who specialises in bankruptcy.

Both Mr and Mrs Young were at today's hearing. Another hearing is scheduled to take place in May.

In November, Mr Justice Moor assessed Mr Young to be worth £40 million - after analysing evidence at a trial - and said Mrs Young was entitled to half of that.

The judge said Mr Young might have hidden assets off-shore and said he knew that Mrs Young would find it hard to enforce his order. But he said Mr Young would never be free of the debt.

Mrs Young said she thought Mr Young was worth ''billions'' and claims that he has hidden a "vast fortune".

She claims she is a victim of ''fraud'' and says Mr Young manipulated his affairs so as to do her down.

Mr Young says he suffered a financial ''meltdown'' seven years ago and is bankrupt and penniless, with debts adding up to £28 million.

Mr Justice Moor concluded in November that Mr Young misled the court "very significantly".

And the judge described the litigation - which began more than six years ago - as "quite extraordinary''.

He said over the years Mrs Young had run up a legal bill of more than £6 million and employed 13 sets of lawyers and four sets of accountants.

The judge heard that the Youngs, who live in London and have two daughters, separated in 2006 after starting a relationship in 1989.

The vital lessons of celebrity divorce

The vital lessons of celebrity divorce