N v N

N v N

A lump sum award of £3.62m to the wife, together with assets already transferred, represents a fair departure from equality in light of the long marriage, the nature and value of inherited and gifted assets, the parties’ expectations for retirement, and the need for lifelong security, applying the sharing and needs principles discretely to individual asset classes.

Parties
Applicant: N; Respondent: N
Jurisdiction
England and Wales
Judgment Date
28 April 2010
Procedural Posture
Ancillary Relief (matrimonial Financial Proceedings) / Final Judgment
Outcome
Lump sum award granted to wife; clean break ordered.
Legal Topics
Ancillary Relief, Division of Matrimonial Assets, Inherited and Gifted Assets, Clean Break, Needs Principle, Sharing Principle, Valuation of Private Company Shares, Post Separation Earnings
Family Law Ancillary Relief Division of Matrimonial Assets Inherited and Gifted Assets Clean Break Needs Principle Sharing Principle Valuation of Private Company Shares +1 more

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Parties

N

Applicant

N

Respondent

Procedural Posture

Ancillary Relief (matrimonial Financial Proceedings) / Final Judgment

Legal Issues

  1. 1 Approach to inherited and gifted assets in ancillary relief
  2. 2 Valuation and division of private company shares
  3. 3 Application of sharing and needs principles

Ratio Decidendi

A lump sum award of £3.62m to the wife, together with assets already transferred, represents a fair departure from equality in light of the long marriage, the nature and value of inherited and gifted assets, the parties’ expectations for retirement, and the need for lifelong security, applying the sharing and needs principles discretely to individual asset classes.

Court Disposition

Lump sum award granted to wife; clean break ordered.

Orders

  • Husband to pay wife a lump sum of £3.62m.
  • Husband to indemnify wife against relevant tax liabilities on New York apartment transfer.