MAP v MFP

MAP v MFP

The court declined to add-back assets for husband's dissipation, finding no deliberate or wanton conduct. Equal division of assets was ordered, with adjustments for tax on director's loan account and loss of entrepreneur's relief. The wife was awarded lump sums, periodical payments, and transfer of property and...

Source-derived case information.

Parties
Petitioner: MAP; Respondent: MFP
Jurisdiction
England and Wales
Judgment Date
10 March 2015
Procedural Posture
Divorce and Financial Remedies / Final Judgment
Outcome
Judgment for petitioner; equal division of assets with specified adjustments; full and final settlement of all claims.
Legal Topics
Financial Remedies, Division of Matrimonial Assets, Add Back Principle, Periodical Payments, Entrepreneur's Relief, Director's Loan Account, Wrongful Dismissal
Family Law Financial Remedies Division of Matrimonial Assets Add Back Principle Periodical Payments Entrepreneur's Relief Director's Loan Account Wrongful Dismissal

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Summary, issues, holding and outcome

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Parties

MAP

Petitioner

MFP

Respondent

Procedural Posture

Divorce and Financial Remedies / Final Judgment

Legal Issues

  1. 1 Whether assets should be added-back for dissipation by the husband
  2. 2 Whether tax on director's loan account should be deducted
  3. 3 Whether wife should receive dividend and maintenance payments

Ratio Decidendi

The court declined to add-back assets for husband's dissipation, finding no deliberate or wanton conduct. Equal division of assets was ordered, with adjustments for tax on director's loan account and loss of entrepreneur's relief. The wife was awarded lump sums, periodical payments, and transfer of property and shareholding. The order constitutes full and final settlement of all claims.

Court Disposition

Judgment for petitioner; equal division of assets with specified adjustments; full and final settlement of all claims.

Orders

  • Transfer of former matrimonial home, wife's villa, and mobile home to wife
  • Payment of initial lump sum of £3 million within 42 days