WW v XX

WW v XX

The wife is entitled to a lump sum of £2,500,000, paid in tranches, reflecting a fair share of the marital acquest after discounting for the husband's retention of illiquid company shares and associated risks. Spousal periodical payments will continue only until the first two tranches are paid, after which there will be a clean break. This outcome departs from strict equality to account for asset quality and risk, and provides more than her needs-based entitlement.

Parties
Applicant: WW; Respondent: XX
Jurisdiction
England and Wales
Judgment Date
15 November 2024
Procedural Posture
Financial Remedies (divorce) / Final Judgment
Outcome
Final financial remedy order granted
Legal Topics
Financial Remedies, Matrimonial Property, Asset Division, Spousal Maintenance, Clean Break, Company Valuation
Family Law Financial Remedies Matrimonial Property Asset Division Spousal Maintenance Clean Break Company Valuation

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Parties

WW

Applicant

XX

Respondent

Procedural Posture

Financial Remedies (divorce) / Final Judgment

Legal Issues

  1. 1 How should the marital assets, including company shares, be valued and divided?
  2. 2 What is the appropriate lump sum and structure of payments to the wife?
  3. 3 Should there be a clean break or ongoing spousal maintenance?

Ratio Decidendi

The wife is entitled to a lump sum of £2,500,000, paid in tranches, reflecting a fair share of the marital acquest after discounting for the husband's retention of illiquid company shares and associated risks. Spousal periodical payments will continue only until the first two tranches are paid, after which there will be a clean break. This outcome departs from strict equality to account for asset quality and risk, and provides more than her needs-based entitlement.

Court Disposition

Final financial remedy order granted

Orders

  • Husband to pay wife a lump sum of £2,500,000 in tranches: £300,000 by 22 Nov 2024, £1,000,000 by 1 May 2025, and six annual payments of £200,000 each from 1 May 2026, all uprated for CPI inflation.
  • Interest at court judgment rate on late payments.