from www.business.timesonline.co.uk – The illegitimate son of Paul Raymond, the porn baron turned property tycoon who died last year, is contesting his estranged father’s will.

Raymond, known as the King of Soho, left his entire £650m fortune to his grand-daughters, Fawn James and India Rose James, [pictured] but Derry McCarthy, 58, has started court proceedings that could see the young heiresses go to battle with their uncle to protect their freshly minted fortune.

The Manchester-based McCarthy, who is said to possess a well-thumbed copy of the Herbert Nass book Wills of the Rich & Famous, has instructed the law firm Gorvins to initiate proceedings against the estate of Paul Raymond.

Gorvins partner Paul Humphreys said: “A protective claim has been issued by Derry McCarthy against the estate of Paul Raymond. No further comment can be made at this stage because both sides have indicated a wish to explore the possibility of concluding the claim.”

McCarthy had very little contact with his father, who was a recluse in his later years. Noreen O’Horan, McCarthy’s mother, had a short-lived relationship with the young Raymond when they were partners in a stage clairvoyant show.

It is not yet known whether Raymond’s other son, Howard, from his marriage to Jean Bradley, who was also cut out of the will, is planning to make a claim on the inheritance.

Raymond built his property empire on the back of profits from his soft-porn business. In 1957 he launched the Revue Bar, the first venue in the UK to feature striptease acts . He then tried his hand at publishing, acquiring the ailing Men Only, which he relaunched in 1971. It proved a hit, quickly finding a circulation of 500,000. Buoyed by the success, he launched other titles, such as Razzle.

Investing the proceeds in property assets proved highly lucrative, and by 1992 he had overtaken the Duke of Westminster to become the richest man in Britain, with a fortune estimated at £1.5 billion. Estate trustees have put the publishing empire up for sale at £10m.