High-net-worth divorce proceedings can quickly become complex, particularly where substantial assets, business interests and contested legal arguments are involved. Our experienced family law solicitors successfully represented a client in financial remedy proceedings involving assets of approximately £7 million, extensive disclosure obligations and multiple disputed legal claims. Through strategic legal advice, robust negotiation and a pragmatic approach to financial disclosure, Tees helped secure a fair settlement without the parties ever needing to attend court.
For context
Tees were instructed to represent Daniel* in high net worth financial remedy proceedings, involving several complex issues, alongside divorce proceedings from his wife, Joanne*.
Daniel and Joanne had been married for over 35 years and had two adult children at the time of their separation. Both had previously enjoyed highly successful careers in the City (Daniel’s annual salary exceeded £550,000); although Joanne had left employment when the children started secondary school.
Over the years, Joanne and Daniel had drifted apart, and later, Daniel began a new relationship with someone else, which ultimately became the catalyst for their separation. In the circumstances, there was a high degree of mistrust between the parties and, despite Tees encouraging the adoption of a Non-Court Dispute Resolution process, Joanne instigated financial remedy proceedings through the courts.
What happened next?
Complex financial remedy proceedings
Daniel and Joanne’s combined resources – composed of several properties, various investments including pensions, shares, bonds and debentures, as well as extensive chattels – amounted to c.£7m.
The financial disclosure process was extensive as Joanne’s solicitors encouraged her to raise repeated additional questions and requests for further information. However, Tees advised Daniel to provide frank and comprehensive financial disclosure from the start, which put Joanne under pressure to justify her additional requests (which she could not do).
Addressing complex legal issues
A range of legal issues were raised by Joanne, the interaction of which created further complexity and potential obstacles to settlement. These issues included the attempted application of the “compensation principle”, section 37 (set aside a disposition of an asset), conduct and add back.
Tees carefully advised Daniel to rebut these assertions through measured and pragmatic correspondence. Tees’ advice was that the significant matrimonial resources, into which both parties had made full contributions, should be subject to the “sharing principle” and there had been no relationship generated disadvantage that would justify Joanne’s compensation claim nor any untoward dissipation of assets.
Why Tees made a difference
By taking a robust and legal-principled approach to Joanne’s allegations while responding proportionately to Joanne’s extensive and repeated questionnaires, Tees were able to narrow the issues sufficiently and put Joanne under pressure so she could not delay negotiations. A fair settlement was agreed and a draft consent order was then submitted, approved and implemented without the parties actually ever having to attend court.
Giving you the full picture
If you’re unsure of what to do next after a separation and are worried about the threat of court proceedings, our experts are here to guide you through the process.
*Names have been changed in order to protect the privacy of our client.
