Key Facts
- •Unusual financial remedies application due to the significant age difference between the parties: Wife (45) and Husband (93).
- •Arranged marriage of 24 years, with two adult children.
- •Husband amassed significant wealth before the marriage, primarily through shoe manufacturing and property investments in Iraq and Morocco.
- •Wife claims a needs-based settlement, abandoning a misconceived sharing claim.
- •Significant assets located in Iraq, with valuation disputes and difficulties in liquidating them.
- •Wife worked in Husband's company (H Ltd.) and played a role in managing properties.
- •Husband transferred substantial assets to Wife and daughters through a company (PR Ltd.).
- •Disputes concerning the value of the Wife's director's loan account in PR Ltd. and the Husband's Iraqi assets.
- •Husband's health is frail due to age and multiple co-morbidities.
Legal Principles
Fairness and no discrimination between husband and wife in financial remedy cases.
White v White [2000] UKHL 54
Three guiding principles in achieving fairness: sharing of matrimonial property, compensation for relationship-generated disadvantage, and needs balanced against ability to pay.
Miller/McFarlane [2006] UKHL 24
Needs-based assessment considering child welfare, marriage length, post-marriage contributions, standard of living, applicant's age, and available resources.
Juffali v Juffali [2016] EWHC 1684 (Fam)
Needs-based claims should not be penalized for modest living standards during marriage, nor should they benefit from excessive spending.
K v L [2011] EWCA Civ 550
Section 25 of the Matrimonial Causes Act 1973, considering various factors including income, resources, needs, standard of living, age, disability, contributions, and conduct.
Matrimonial Causes Act 1973, Section 25
Outcomes
Wife awarded £6.17 million: £2.3 million for housing, £1.7 million Duxbury fund, and £2.17 million director's loan account in PR Ltd.
Needs-based award considering the length of the marriage, Wife's contributions, and available resources; difficulty in realizing Iraqi assets considered.
Husband to retain the matrimonial home for life, with an all-monies charge in favour of the Wife.
Husband's age and health considered; ensures Wife's protection if the Husband needs to move to care accommodation.
Husband to pay £4 million in two installments: £2 million by 31 July 2024 and £2 million by 31 December 2024.
Balances the Wife's need for funds with the Husband's ability to liquidate assets in Morocco; interest payable on default.
Wife to transfer her interest in the Moroccan property to the Husband.
Part of the overall financial settlement to provide Husband with funds to pay Wife.
Presumption of no order as to costs.
Needs-based award for both parties.