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Sharing v needs: X v X (Application for a Financial Remedies Order) [2016] EWHC 1995 (Fam)
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Roopa Ahluwalia Senior Associate Mediator and Collaborative Lawyer Birketts LLPX v X (Application for a Financial Remedies Order) [2016] EWHC 1995 (Fam) decided in mid-2016 has a particularly complex set of facts. It illustrates the way in which high value cases can be approached and also the way in which competing arguments over the approach the court should take might be resolved. The issue the court had to decide was whether a ‘needs’ approach or a ‘sharing’ approach should prevail when reaching a fair outcome. In doing this the court also had to address two issues as to how the assets were quantified. The first was whether the husband one of a number of beneficiaries under a discretionary trust could be treated as having the trust assets as a ‘resource’ available to him for the purposes of quantifying his assets and for funding any settlement. The second was whether the court should discount shares held by the husband (and the trust) in a company because of his unique importance to that company.
The husband...
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