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26/06/2009
Court ruling leaves divorce settlement unchanged |
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A divorce settlement cannot be changed retrospectively despite a subsequent increase in the wealth of the former husband, a high court judge has ruled.
Businessman Martin Walkden had agreed a settlement with his ex-wife of nearly £500,000 in 2006, but the following year his wealth soared after he received nearly £1.8 million before tax in a £3.8 million takeover of the company.
Ms Walkden had been given permission to appeal the original decision on the basis that she had gained a low share of Mr Walkden's wealth, but the ruling may strengthen the law that the sum set in a settlement cannot be retrospectively changed.
The judge Lord Justice Thorpe said Mr Walkden's lawyer was "entitled to describe this case as the flipside of the decision of this court in Myerson v Myerson", a case where the husband attempted to lower the settlement because his wealth had subsequently plunged as his share values fell.
A divorce lawyer may be able to help provide the best settlement in a case, either in or out of court.
The UK situation on settlements differs from elsewhere, with actor John Cleese recently managing to get the size of his settlement reduced in the US after his property investments lost value.
Written by Pauline Adams
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