K v K [2005] EWHC 1070 (Fam) (17 May 2005)

K v K [2005] EWHC 1070 (Fam) (17 May 2005)

After a marriage of over 30 years with equal but different contributions, and in the absence of good reason to depart from equality, the assets should be divided equally. The husband's attempts to obscure assets and present bogus debts were rejected. A quantified sum was added back for excessive expenditure. Litigation misconduct was noted but did not alter the substantive division. Each party is to receive 50% of the net assets, amounting to £3,082,250 each.

Citation
[2005] EWHC 1070 (Fam)
Parties
Petitioner: Mrs K; Respondent: Mr K
Jurisdiction
England and Wales
Judgment Date
17 May 2005
Procedural Posture
Ancillary Relief (financial Remedy) Following Divorce / Final Judgment After Contested Trial
Outcome
Decree of ancillary relief granted; equal division of assets ordered.
Legal Topics
Ancillary Relief, Division of Matrimonial Assets, Disclosure Obligations, Litigation Conduct, Add Back of Dissipated Assets, Equal Division Principle
Family Law Ancillary Relief Division of Matrimonial Assets Disclosure Obligations Litigation Conduct Add Back of Dissipated Assets Equal Division Principle

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Parties

Mrs K

Petitioner

Mr K

Respondent

Procedural Posture

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

Legal Issues

  1. 1 What is the true extent and value of the matrimonial assets?
  2. 2 Should any assets be 'added back' due to dissipation by the husband?
  3. 3 How should the assets be divided between the parties after a long marriage?

Ratio Decidendi

After a marriage of over 30 years with equal but different contributions, and in the absence of good reason to depart from equality, the assets should be divided equally. The husband's attempts to obscure assets and present bogus debts were rejected. A quantified sum was added back for excessive expenditure. Litigation misconduct was noted but did not alter the substantive division. Each party is to receive 50% of the net assets, amounting to £3,082,250 each.

Court Disposition

Decree of ancillary relief granted; equal division of assets ordered.

Orders

  • Each party to receive 50% of the net matrimonial assets, amounting to £3,082,250 each.
  • Specific undertakings regarding the sale of the French property and repayment of loans to the daughters.