M v M

M v M

Given the modest liquid assets, significant illiquid family business interests, and the likelihood of family support for W, the court ordered a division of the liquid assets that allows both parties to rehouse, treated most family loans as soft, and made a clean break order. A modest costs order was made against H due to his litigation conduct, but set off against a previous order to avoid unfairness.

Parties
Petitioner/applicant: RM; Respondent: TM
Jurisdiction
England and Wales
Judgment Date
06 May 2020
Procedural Posture
Family Financial Remedy / Final Judgment After Retrial
Outcome
Final financial remedy order with clean break; division of liquid assets; costs order set-off; ancillary orders for share transfer and property return.
Legal Topics
Financial Remedies, Division of Assets, Clean Break, Needs Principle, Family Business Valuation, Soft Loans, Costs Orders
Family Law Financial Remedies Division of Assets Clean Break Needs Principle Family Business Valuation Soft Loans Costs Orders

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Parties

RM

Petitioner/applicant

TM

Respondent

Procedural Posture

Family Financial Remedy / Final Judgment After Retrial

Legal Issues

  1. 1 How to fairly divide the liquid and illiquid assets after a long marriage with significant legal costs and family business interests
  2. 2 Whether family business interests and family support should be treated as resources
  3. 3 Treatment of soft loans from family members

Ratio Decidendi

Given the modest liquid assets, significant illiquid family business interests, and the likelihood of family support for W, the court ordered a division of the liquid assets that allows both parties to rehouse, treated most family loans as soft, and made a clean break order. A modest costs order was made against H due to his litigation conduct, but set off against a previous order to avoid unfairness.

Court Disposition

Final financial remedy order with clean break; division of liquid assets; costs order set-off; ancillary orders for share transfer and property return.

Orders

  • From net proceeds of sale, after £33,000 to W's brother, H to receive £377,000, W to receive £220,500
  • Each party responsible for their own family debts and to indemnify the other