Sir Paul Judge, the former Cadbury Schweppes’ executive and key funder of Cambridge university’s Judge Institute of Management, has become the latest wealthy businessman to become locked in a multi-million pound divorce battle.

Lady Anne-Marie Judge, who was divorced from Sir Paul in 2001, on Tuesday asked the Court of Appeal to set aside their original financial settlement on the grounds that her ex-husband had enjoyed a “windfall’’ of £14m that she believed had been earmarked for charity.