Former Miss Malaysia, Pauline Chai, filed for what is claimed to be wealthiest divorce settlement of £500 million from husband Khoo Kay Peng in Britain.

Chai, a 66-year-old mother of five, filed for divorce in February putting an end to the wealthy couple's 42-year-old marriage. The reason for separation has been cited has 'unreasonable behaviour'.

However, her husband Khoo insisted the case be filed in Malaysia. The reason being, under British separation laws he might have to part with 50 percent of his wealth as a part of the settlement which would be way lower in his native country Malaysia.

In an attempt at shifting the case to Malaysia, Khoo's lawyers told High Court that the country's reputation as the divorce capital is at stake if the case would be held in London, reported The Times.

Tim Bishop who represents Khoo said if Chai's application was considered then it would give rise to similar cases where people would come to England for three months, issue fake petitions and file the consecutive petition after they had established themselves.

Chai's lawyer Ayesha Vardag told Mail Online, "This is a classic jurisdiction race. Pauline Chai wants her divorce dealt with in England where she has her home. She put in her divorce petition here in the normal way."

"Her husband is one of the richest men in Malaysia. He wants their case heard there where he can give his wife of 41 years much less and is trying to get the case heard there instead."

"She says she lives in England and wants English justice."

Khoo, who was named in Forbes' list of 40 richest Malaysian businessmen last year, has properties in Kuala Lumpur, Canada, Australia and owns the lavish 1000 acre estate in Hertfordshire which was bought in 1998.

The 74-year-old also owns a 40 percent stake in Laura Ashley (fashion and furnishing giant) and is the director of Corus Hotels Limited which has ten hotels including the splendid Corus Hyde Park Hotel in London.

Chai's lawyer further told The Times, "We have wealth here that was built up over 40 years and a wife's entitlement would be half of that. Any question of need is secondary."

And if the case gets accepted in the London High court, it might become the highest divorce pay-out in the history of Britain with £500 Million at stake.