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18 March 2016

Asos entrepreneur told to hand ex-wife £70m

The entrepreneur founder of an online fashion store has been told to give around £70 million worth of assets to his ex-wife. 

A public trial in the High Court's Family Division heard that Nick Robertson's 43-year-old wife, Janine, wanted almost half his £220 million fortune.

But Mr Robertson, 48, who founded Asos in 2000 four years before getting married, argued she should only receive about £30 million.

Mr Justice Holman said failing to settle the dispute had resulted in each party running up legal bills of about half a million pounds. He added that despite urging the pair to settle, they had been unable to reach a compromise.

The judge said he hoped both parties would now be able to move on with their lives.

An acronym for As Seen On Screen, Asos sells branded and own-brand items to almost 10 million customers.

Mr Robertson stepped down as chief executive last September, having won a string of awards for his entrepreneurship.

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