B v S (Rev 2)

B v S (Rev 2)

Neither party entered into the foreign matrimonial property agreements with a full appreciation of their implications for divorce in England; English law applies, and fairness requires equal division of assets and a needs-based periodical payments award, with a lump sum payable by instalments from Green Widget and no separate child maintenance due to equal care and payment of school fees by respondent.

Parties
Applicant: B; Respondent: S
Jurisdiction
England and Wales
Judgment Date
17 February 2012
Procedural Posture
Financial Remedy / Judgment
Outcome
Financial remedy judgment; equal division of assets; lump sum payable by instalments; periodical payments awarded; no separate child maintenance.
Legal Topics
Financial Remedies, Matrimonial Property Regimes, Division of Assets, Periodical Payments, Nuptial Agreements
Family Law Financial Remedies Matrimonial Property Regimes Division of Assets Periodical Payments Nuptial Agreements

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Parties

B

Applicant

S

Respondent

Procedural Posture

Financial Remedy / Judgment

Legal Issues

  1. 1 Weight to be given to foreign matrimonial property regime and agreements
  2. 2 Fair division of assets and income post-divorce
  3. 3 Assessment of needs and sharing principles

Ratio Decidendi

Neither party entered into the foreign matrimonial property agreements with a full appreciation of their implications for divorce in England; English law applies, and fairness requires equal division of assets and a needs-based periodical payments award, with a lump sum payable by instalments from Green Widget and no separate child maintenance due to equal care and payment of school fees by respondent.

Court Disposition

Financial remedy judgment; equal division of assets; lump sum payable by instalments; periodical payments awarded; no separate child maintenance.

Orders

  • Lump sum of £3m payable in three instalments of £1m each on 1 June 2013, 1 June 2014, and 1 June 2015.
  • Periodical payments to applicant of £10,000 per month from 1 March 2012, reducing to £7,500 per month after first instalment, £4,300 after second, and capitalised at £344,000 after third instalment for clean break.