The parties married in 2010 and separated in April 2024. They have three children, two of whom are privately educated. The breakdown of the marriage involved significant conflict, allegations of financial control, and concerns over transparency in disclosure. Financial remedy proceedings were issued, culminating in a Financial Dispute Resolution (FDR) hearing.
Assets
The key assets included the former matrimonial home (Property X) and a second property (Property Y), held in the respondent’s sister’s name but accepted by both parties to be a matrimonial resource. There were also business-related complications following a settlement with a former employer, including concerns over undeclared income and asset tracing.
Issues
- Ownership and transfer of Property Y.
- Rehousing and financial security for the applicant and children.
- Funding of school fees.
- Appropriate level of maintenance and division of pensions.
- Allegations of non-disclosure and financial misconduct.
- Conduct issues were raised but not ultimately pursued at final hearing.
Outcome
At the FDR, the parties reached binding Heads of Agreement on a Xydhias basis, intending to convert to a Rose v Rose order. Key terms:
- Property X to be sold immediately, with price reductions triggered if not sold by 1 July 2025.
- Net proceeds to be paid to the applicant up to a capped figure (c£1m). Any surplus to the respondent.
- Applicant to transfer any beneficial interest in Property Y to the respondent.
- Respondent to meet mortgage and utility payments until sale. If the mortgage rate expires before sale, parties to seek a mortgage holiday or restructuring.
- Proceeds from the sale of shares in a former employer to be used for mortgage increases and school fees.
- Global maintenance from the respondent to the applicant post-sale, linked to RPI and tapering as each child completes secondary education.
- A pension sharing order in favour of the applicant. Costs to be shared equally.
- Lump sum to be paid to the applicant.
- Immediate clean break on capital, property, and pension claims. Income claims remain open until the end of maintenance, after which a full clean break applies.
- No order as to costs. Liberty to apply limited to timing and implementation.