H v H

H v H

A clean break is not appropriate due to insufficient resources; the Wife’s needs and the sharing principle require her to receive £1.45 million of the available liquid assets, with the Husband retaining the business and paying periodical payments. The business is valued at £2.5 million net, reflecting a broad assessment of maintainable earnings and an appropriate multiple. The division is justified by the Husband’s long-term contribution to the business and the need to avoid arbitrary realisation of business value.

Parties
Applicant: H; Respondent: H
Jurisdiction
England and Wales
Judgment Date
26 March 2008
Procedural Posture
Ancillary Relief (financial Remedy) Following Divorce / Final Judgment
Outcome
Final orders for division of assets and maintenance; no clean break.
Legal Topics
Ancillary Relief, Business Valuation in Divorce, Clean Break, Division of Assets, Child Maintenance, Spousal Maintenance
Family Law Ancillary Relief Business Valuation in Divorce Clean Break Division of Assets Child Maintenance Spousal Maintenance

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Parties

H

Applicant

H

Respondent

Procedural Posture

Ancillary Relief (financial Remedy) Following Divorce / Final Judgment

Legal Issues

  1. 1 How should the parties' assets, including a restaurant business, be valued and divided on divorce?
  2. 2 Is a clean break appropriate in this case?
  3. 3 What are the appropriate levels of spousal and child maintenance?

Ratio Decidendi

A clean break is not appropriate due to insufficient resources; the Wife’s needs and the sharing principle require her to receive £1.45 million of the available liquid assets, with the Husband retaining the business and paying periodical payments. The business is valued at £2.5 million net, reflecting a broad assessment of maintainable earnings and an appropriate multiple. The division is justified by the Husband’s long-term contribution to the business and the need to avoid arbitrary realisation of business value.

Court Disposition

Final orders for division of assets and maintenance; no clean break.

Orders

  • Wife to receive £1.45 million of liquid assets and the Canada Life pension (total capital just over £1.5 million)
  • Husband to retain business interests (net value £2.5 million) and have capital just over £3.2 million