Ex-wife fails in bid to increase £3.5m divorce settlement
September 1, 2017 4 comments
The former wife of a wealthy property tycoon has failed in her bid to have her divorce settlement increased.
She was originally awarded £3.5 million out of a £9.4 million fortune back in 2015 following the couple’s divorce. Her now 82 year-old ex-husband unsuccessfully tried to appeal against that amount last year.
However, the 61 year-old insisted this was pay-out not enough, believing she was entitled to half of the nearly £10 million her husband had amassed. Her lawyer described the £3.5 million as “the worst possible result for her”, calling it “unfair and discriminatory”. The lawyer argued that marriage was “a partnership of equals and, if you build up a pot together, you should share equally in that pot”.
Sitting in the Court of Appeal, Lord Justice Moylan did not agree with this assessment of the original award. He declared that the original Judge “was plainly entitled to find that the husband had substantial wealth at the commencement of the relationship, because this was agreed”.
The husband was already in his 50s when the couple married back in 1987 and already had £2.6 million and “considerable property assets” to his name. His lawyer argued this “was not a case where a couple grew their assets together” and that the wife had been left with “a home, a holiday home, a lifetime income at a very considerable figure and clear of liabilities”.
Lord Justice Moylan ruled that the initial award had been correct as “an equal division would be unfair to the husband and, equally … an unequal division would be fair to the wife”.
Photo of the Royal Courts of Justice by Katy Ereira via Flickr under a Creative Commons licence.
September 1, 2017