SK vTK

SK vTK

There was no special contribution, no significant pre-marital assets, and the risk associated with Limelight did not justify departure from equality. All assets were accrued during the marriage through equal contributions. The correct approach was an equal division of net assets on a clean break basis, with the husband retaining Limelight at a conservative valuation and the wife receiving a lump sum to achieve parity. School and university fees are to be shared equally, and the husband is to pay £10,000 per annum per child in periodical payments.

Parties
Applicant: SK; Respondent: TK
Jurisdiction
England and Wales
Judgment Date
11 April 2013
Procedural Posture
Financial Remedies Application (divorce) / Final Judgment
Outcome
Equal division of net assets on a clean break basis; orders for child maintenance and sharing of educational costs.
Legal Topics
Financial Remedies, Division of Matrimonial Assets, Clean Break Order, Child Maintenance, Valuation of Business Assets, Special Contribution, Pre Marital Assets, Risk in Asset Division
Family Law Financial Remedies Division of Matrimonial Assets Clean Break Order Child Maintenance Valuation of Business Assets Special Contribution Pre Marital Assets +1 more

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Parties

SK

Applicant

TK

Respondent

Procedural Posture

Financial Remedies Application (divorce) / Final Judgment

Legal Issues

  1. 1 Valuation of Limelight Ltd and division of shares
  2. 2 Whether the husband made a special contribution justifying departure from equality
  3. 3 Treatment of husband's interest in Vision as pre-marital contribution

Ratio Decidendi

There was no special contribution, no significant pre-marital assets, and the risk associated with Limelight did not justify departure from equality. All assets were accrued during the marriage through equal contributions. The correct approach was an equal division of net assets on a clean break basis, with the husband retaining Limelight at a conservative valuation and the wife receiving a lump sum to achieve parity. School and university fees are to be shared equally, and the husband is to pay £10,000 per annum per child in periodical payments.

Court Disposition

Equal division of net assets on a clean break basis; orders for child maintenance and sharing of educational costs.

Orders

  • Wife to receive assets totalling £9,068,043, including her home, share of French chalet, investments, and a lump sum of £3,967,740 from the husband to achieve parity.
  • Pension sharing order to achieve parity, giving wife a further £329,642.