A Russian billionaire has appealed a decision that he pay his wife £453 million, as part of their divorce. It is believed that this is the largest award ever made in the English courts.
The court found that the wife’s claim totalled 41.5 % of the marital assets, which was considered fair and just in the circumstances.
In the meantime, despite the existence of the current order, the wife states that she has not received “a penny from him” to date.
In his judgement, Mr Justice Haddon-Cave made the point that the wealth had been built up throughout the course of their married lives together and that there had been equal contributions towards the welfare of the family. The sharing principle, established in previous big money cases, was therefore applied and the wife was awarded 41.5% of the total marital assets.
This case contrasts with the approach in the case of Cooper-Hohn v Hohn where the court recognised the husband’s special contribution towards the wealth of the marriage. The court did not apply the sharing principle and the wife did not achieve an equal division of the assets.
The different approach in this case highlights the very wide discretion that the court has, deciding each case on a fact specific basis.
Wrigley Claydon, we fight on your behalf to make this difficult time a little easier. We are experienced family lawyers and can assist you with the legal aspects of any family situation in which you may find yourself. We deal with our cases sensitively.
If you are looking for family advice then please call 0161 785 3521 to speak to Terri Pickup Olaide Awogbile or Corinne Bailey-Brown in our Family Department or email email@example.com, firstname.lastname@example.org email@example.com.
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