JV v MV

JV v MV

The court finds the business to be a quasi-partnership and orders a formula for buy-out or sale, rejecting Wells sharing as a last resort and minority discount. H must pay W a lump sum of £15.5m for business assets, reflecting a justified departure from equality. Tax liabilities are to be shared proportionally, except COP9 liabilities which fall solely on H. If buy-out does not occur, shares are to be sold and proceeds divided equally.

Parties
Applicant: JV; Respondent: MV
Jurisdiction
England and Wales
Judgment Date
26 February 2026
Procedural Posture
Financial Remedy Application (divorce) / Final Judgment
Outcome
Financial remedy orders granted; lump sum and asset division ordered.
Legal Topics
Financial Remedies, Division of Matrimonial Assets, Quasi Partnership, Tax Liabilities, Clean Break Principle
Family Law Company Law Tax Law Financial Remedies Division of Matrimonial Assets Quasi Partnership Tax Liabilities Clean Break Principle

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 3 Party arguments 2 Amounts and remedies 17
Sign in to unlock

Parties

JV

Applicant

MV

Respondent

Procedural Posture

Financial Remedy Application (divorce) / Final Judgment

Legal Issues

  1. 1 How to achieve a fair division of business assets in a quasi-partnership context
  2. 2 Allocation of tax liabilities arising from historic company practices
  3. 3 Impact of COP9 disclosure and deliberate misconduct on asset division

Ratio Decidendi

The court finds the business to be a quasi-partnership and orders a formula for buy-out or sale, rejecting Wells sharing as a last resort and minority discount. H must pay W a lump sum of £15.5m for business assets, reflecting a justified departure from equality. Tax liabilities are to be shared proportionally, except COP9 liabilities which fall solely on H. If buy-out does not occur, shares are to be sold and proceeds divided equally.

Court Disposition

Financial remedy orders granted; lump sum and asset division ordered.

Orders

  • H to pay W a lump sum of £15.5m for business assets by 1 September 2027 or 12 months after HMRC determination, whichever is later.
  • If buy-out does not occur, all H and W shares to be placed on the market for sale and proceeds divided equally after costs and tax liabilities.