SK v WL

SK v WL

A fair division of assets in ancillary relief proceedings must balance the contributions made during the marriage and post-separation, avoid artificial precision in distinguishing matrimonial and non-matrimonial property, and apply the sharing principle broadly. The husband's post-separation endeavours contributed to the value of PCo, but the business's success was also rooted in the marriage and family assets. The wife should receive just over 40% of the overall assets, reflecting both pre- and post-separation contributions.

Parties
Applicant/wife: SK; Respondent/husband: WL
Jurisdiction
England and Wales
Judgment Date
26 February 2010
Procedural Posture
Ancillary Relief Application (financial Remedy) / Final Judgment
Outcome
Assets divided; wife awarded £7 million of £16.246 million current wealth, plus 40% of any additional net sums from T property and loan notes.
Legal Topics
Ancillary Relief, Division of Matrimonial Assets, Post Separation Accrual, Valuation of Business Assets, Sharing Principle
Family Law Ancillary Relief Division of Matrimonial Assets Post Separation Accrual Valuation of Business Assets Sharing Principle

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Parties

SK

Applicant/wife

WL

Respondent/husband

Procedural Posture

Ancillary Relief Application (financial Remedy) / Final Judgment

Legal Issues

  1. 1 Whether post-separation accrual justifies departure from equal division of assets
  2. 2 How to value business assets for matrimonial purposes
  3. 3 Extent of matrimonial vs non-matrimonial property

Ratio Decidendi

A fair division of assets in ancillary relief proceedings must balance the contributions made during the marriage and post-separation, avoid artificial precision in distinguishing matrimonial and non-matrimonial property, and apply the sharing principle broadly. The husband's post-separation endeavours contributed to the value of PCo, but the business's success was also rooted in the marriage and family assets. The wife should receive just over 40% of the overall assets, reflecting both pre- and post-separation contributions.

Court Disposition

Assets divided; wife awarded £7 million of £16.246 million current wealth, plus 40% of any additional net sums from T property and loan notes.

Orders

  • Wife to receive £7 million from current assets.
  • Wife to receive 40% of any additional net sum realised from T property and loan notes.