Cleese gets divorce crunched in half

Actor John Cleese has managed to get his divorce settlement halved after the credit crunch caused his income to plummet.

Mr Cleese was ordered to pay £1.3 million to ex-wife Alyce Faye Eichelberger, but a judge in the US agreed to drop the amount as the original figure was based on the Fawlty Towers star's 2007 earnings.

Since then Mr Cleese has seen the value of his property assets drop and the divorce forced him to sell a Texan ranch at a lower price than its normal value.

Although the case happened outside the UK, similar instances have arisen in the wake of the credit crunch in Britain.

Recently, City fund manager Bryan Myerson took his case to the High Court, arguing that the £9.5 million settlement to his wife should be trimmed as it was based on his wealth in shares that have since lost 90 per cent of their value.

Those who do a DIY divorce may negotiate for themselves contingency plans for future changes in financial circumstances.

Written by Rachel Crook

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Published on: March 23, 2009

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