H v H [2008] EWHC 935 (Fam) (26 March 2008)

H v H [2008] EWHC 935 (Fam) (26 March 2008)

The court determined the value of the restaurant business for ancillary relief purposes by adopting a future maintainable earnings figure of £725,000 and a multiple of 6.5, resulting in a net business value of £2.5 million. The total capital for division was £4.79 million. The court rejected both parties' extreme positions, found both parties contributed equally, and held that an equal division was fair. The Wife was awarded sufficient capital to remain in the former matrimonial home (with a mortgage if necessary), and both parties were to have a clean break, with provision for child maintenance and school fees.

Citation
[2008] EWHC 935 (Fam)
Parties
Applicant: H; Respondent: H
Jurisdiction
England and Wales
Judgment Date
26 March 2008
Procedural Posture
Ancillary Relief (financial Remedy) Following Divorce / Final Judgment After Contested Hearing
Outcome
Ancillary relief granted; equal division of assets; clean break ordered.
Legal Topics
Ancillary Relief, Business Valuation in Divorce, Clean Break, Division of Assets, Child Maintenance, Pensions in Divorce
Family Law Ancillary Relief Business Valuation in Divorce Clean Break Division of Assets Child Maintenance Pensions in Divorce

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Parties

H

Applicant

H

Respondent

Procedural Posture

Ancillary Relief (financial Remedy) Following Divorce / Final Judgment After Contested Hearing

Legal Issues

  1. 1 Appropriate valuation of a restaurant business for ancillary relief
  2. 2 Whether equal division of assets is fair given business history and contributions
  3. 3 Assessment of parties' needs and clean break feasibility

Ratio Decidendi

The court determined the value of the restaurant business for ancillary relief purposes by adopting a future maintainable earnings figure of £725,000 and a multiple of 6.5, resulting in a net business value of £2.5 million. The total capital for division was £4.79 million. The court rejected both parties' extreme positions, found both parties contributed equally, and held that an equal division was fair. The Wife was awarded sufficient capital to remain in the former matrimonial home (with a mortgage if necessary), and both parties were to have a clean break, with provision for child maintenance and school fees.

Court Disposition

Ancillary relief granted; equal division of assets; clean break ordered.

Orders

  • Wife to receive capital sufficient to remain in former matrimonial home (with mortgage if necessary)
  • Equal division of total capital (£4.79 million) between parties