SS v IS

SS v IS

The court found that the wife is entitled to a 50% share of the matrimonial assets, including a variation of the Fine Trust to transfer 50% of shares in POHL and GCG to her, rather than a lump sum buyout at the current offer value. The court rejected the husband's valuation as not reflecting the potential value of the assets and found the wife's proposal fairer, allowing her to benefit from any future uplift. The court ordered spousal maintenance at £60,000 per annum, index-linked, for a non-extendable 10-year term, reflecting the wife's needs and the husband's ability to pay. The court structured a capital clean break, with the wife retaining the former matrimonial home and other assets,...

Parties
Applicant: SS; Respondent: IS
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Financial Remedy Application (family) / Final Judgment
Outcome
Application granted in part; financial remedy order made.
Legal Topics
Financial Remedies, Variation of Nuptial Settlement, Matrimonial and Non Matrimonial Assets, Spousal Maintenance, Trusts in Divorce, Disclosure Obligations
Family Law Financial Remedies Variation of Nuptial Settlement Matrimonial and Non Matrimonial Assets Spousal Maintenance Trusts in Divorce Disclosure Obligations

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Parties

SS

Applicant

IS

Respondent

Procedural Posture

Financial Remedy Application (family) / Final Judgment

Legal Issues

  1. 1 Appropriate division of matrimonial and non-matrimonial assets
  2. 2 Variation of nuptial settlement under s.24(1)(c) Matrimonial Causes Act 1973
  3. 3 Valuation and treatment of business assets held in offshore trusts

Ratio Decidendi

The court found that the wife is entitled to a 50% share of the matrimonial assets, including a variation of the Fine Trust to transfer 50% of shares in POHL and GCG to her, rather than a lump sum buyout at the current offer value. The court rejected the husband's valuation as not reflecting the potential value of the assets and found the wife's proposal fairer, allowing her to benefit from any future uplift. The court ordered spousal maintenance at £60,000 per annum, index-linked, for a non-extendable 10-year term, reflecting the wife's needs and the husband's ability to pay. The court structured a capital clean break, with the wife retaining the former matrimonial home and other assets,...

Court Disposition

Application granted in part; financial remedy order made.

Orders

  • Former matrimonial home to be transferred to wife or sold after 24 September 2023, with wife retaining net proceeds.
  • Wife retains Cyprus property proceeds and Russian property occupied by her parents.