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Credit Crunch in the Court of Appeal: Myerson v Myerson

Date:2 JUN 2009

Matthew Brunsdon-Tully Camini Kumar Valentine Le Grice QC Barristers 1 Hare Court

On 11 March 2009 the 'credit crunch' case of Myerson v Myerson (No 2) [2009] EWCA Civ 282 [2009] 2 FLR (forthcoming) had its second outing in the Court of Appeal this time in front of Thorpe Smith and Sullivan LJJ. In the first appeal Mr Myerson had successfully convinced the court (Lord Justice Thorpe being common to both constitutions) that Baron J as the financial dispute resolution appointment (FDR) judge was to have no further involvement in the case (Myerson v Myerson [2008] EWCA Civ 1376 [2009] 1 FLR 826). This time Mr Myerson sought to set aside the order arrived at by consent following the FDR on the basis that the dramatic depreciation in his assets caused by the global financial crisis amounted to a Barder event (see Barder v Caluori [1988] 1 AC 20) such that it rendered the order both unfair and unworkable.

The appeal aroused significant media interest as it was the first testing of the court's willingness to...

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