Husband receives a short Sharp shock.

A City trader has won her appeal against a High Court order, awarding her husband an equal division of the matrimonial capital, after a marriage of just four years.

Julie Sharp, a City trader, argued that as both parties had worked, there were no children and they had largely kept their finances separate, it would be unfair to award her ex-husband Robin Sharp part of her £10.5 million bonuses.

The Court of Appeal agreed and Mr Sharp’s award was cut by £700,000, leaving him with just 28 % of the assets overall.

The judgment is likely to make it easier for parties to argue that in suitable cases, there should not be automatic sharing of the wealthier party’s non-family assets. The equal sharing principle established in the case of White v White in 2000 should not be treated as a strict formula and the Court must pay regard to the length of the marriage and the way in which the parties had organised their finances.

The case is likely to affect many divorcing parties currently in negotiations as to the split of their assets and Mundays would be happy to advise if you are unsure about your position. Please contact Judith Fitton, Family Law Partner or any other member of the Family Department at Mundays LLP.

Insights.

Advice for house hunters #SolicitorChat with The Law Society
14th January, 2021

Purchasing a property is likely to be one of the biggest transactions you will make in your life and the process can be complicated. Thomas Healy answered a few questions…

To injunct or not to injunct?
14th January, 2021

The possibility of an immediate costs order on an interlocutory injunction application to enforce restrictive covenants against a former employee, has for some time been a material factor.

Making a Will in 2021 #SolicitorChat with The Law Society
7th January, 2021

2020 produced many unexpected events and Michael Brierley discussed how you can help protect yourself from the unexpected by making a Will with The Law Society and other firms for…

A note from Neale Andrews
5th January, 2021

In line with the latest Government guidance and to ensure the safety of our clients and staff, we are for the greater part operating the firm remotely. However, we have…