Financier and ex-wife in charity battle

A FINANCIER and his ex-wife are embroiled in a Supreme Court dispute involving a children’s charity they set up.

Sir Chris Hohn and Jamie Cooper are embroiled in the dispute after fighting one of London’s biggest divorce battles.

A judge ordered Sir Chris to hand about a third of a £1bn fortune, £337m, to Ms Cooper in 2014 after a trial in the Family Division of the High Court. They are now on opposite sides of a dispute involving the Children’s Investment Fund Foundation.

The dispute centres on whether the foundation – with assets of more than £3bn – should give more than £270m to Big Win Philanthropy, a similar charity set up by Ms Cooper after the divorce.

Five Supreme Court justices began analysing arguments at a Supreme Court hearing in London yesterday. The hearing is due to end today and a ruling is expected later in the year.

The court heard Sir Chris and Ms Cooper set up the foundation nearly 20 years ago to improve the lives of children in developing countries, and are two of the organisation’s three members.

The marriage breakdown made the foundation difficult to manage, justices were told.

Sir Chris and Ms Cooper had agreed that, in exchange for the grant to Big Win Philanthropy, she would resign as a member and trustee of the foundation – but both had recused themselves from voting on the proposal.

Justices have been asked to decide whether a judge can tell the third foundation member, Marko Lehtimaki, how to vote.

An earlier High Court ruling ordered Dr Lehtimaki to vote to approve it but Dr Lehtimaki, backed by Sir Chris, mounted a successful appeal to that decision. Now Ms Cooper has asked Supreme Court justices to overturn the Court of Appeal ruling.