The executive chairman of London-listed investment company Principal Capital has lost an appeal to renegotiate his million-pound divorce settlement, after the value of his holding in the firm collapsed, allegedly wiping out almost all of his personal wealth.

Brian Myerson last month launched an appeal to clawback some of his £9.5m (€10.3m) divorce settlement from former wife Ingrid. He claims that almost all of his money is tied-up in Principal Capital's shares, the price of which has fallen 93.7% since this time last year.