P-S v C [2009] JRC 119A (16 June 2009)

P-S v C [2009] JRC 119A (16 June 2009)

The court determined that the appropriate valuation date was April 2003, the correct method was the Dividend Yield Method, and the value of the husband's 63% interest in the CCB Group was £5.9 million. The revised lump sum award to the wife was set at £3,000,000, which was fair and affordable given the funds held in escrow and the husband's persistent non-disclosure and lack of credible evidence of inability to pay.

Citation
[2009] JRC 119A
Parties
Petitioner: the wife; Respondent: the husband
Jurisdiction
Jersey
Judgment Date
16 June 2009
Procedural Posture
Ancillary Relief / Matrimonial Finance / Final Judgment After Remittal for Re Determination of Lump Sum Award
Outcome
Lump sum award to wife revised to £3,000,000; order for immediate transfer of escrowed funds to wife.
Legal Topics
Ancillary Relief, Matrimonial Finance, Non Disclosure, Asset Valuation, Lump Sum Award
Family Law Ancillary Relief Matrimonial Finance Non Disclosure Asset Valuation Lump Sum Award

Case Brief

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Parties

the wife

Petitioner

the husband

Respondent

Procedural Posture

Ancillary Relief / Matrimonial Finance / Final Judgment After Remittal for Re Determination of Lump Sum Award

Legal Issues

  1. 1 What is the true value of the husband's interest in the CCB Group as at April 2003?
  2. 2 What effect does the revised valuation have on the lump sum award to the wife?
  3. 3 Is it fair and affordable for the husband to pay the revised lump sum award?

Ratio Decidendi

The court determined that the appropriate valuation date was April 2003, the correct method was the Dividend Yield Method, and the value of the husband's 63% interest in the CCB Group was £5.9 million. The revised lump sum award to the wife was set at £3,000,000, which was fair and affordable given the funds held in escrow and the husband's persistent non-disclosure and lack of credible evidence of inability to pay.

Court Disposition

Lump sum award to wife revised to £3,000,000; order for immediate transfer of escrowed funds to wife.

Orders

  • The £3,000,000 held in escrow is to be transferred forthwith to the order of the wife.