14 June 2017
Wife challenges ‘equality of division’ divorce settlement
A woman has successfully challenged a ruling which saw her former husband receive half of the fortune she created when the pair were married.
Julie Sharp, an energy trader, was already a relatively high earner when she met her husband, IT consultant Robin Sharp. Both were on salaries of roughly £100,000.
Over a period of five years, Mrs Sharp also achieved bonuses worth a combined £10.5 million.
Two years ago, a family judge ruled that Mr Sharp should be handed half of the "matrimonial pot" following the end of the couple's relationship. That meant a sum of £2.725 million, equating to 50% of the total matrimonial assets of £5.45 million, was awarded to Mr Sharp.
However, Mrs Sharp took her case to the Court of Appeal, and three judges have now said that they have allowed her appeal.
Lord Justice McFarlane, Lord Justice McCombe and Lord Justice David Richards ruled that the total award should actually be £2 million. This will be made up of a property worth £1.1 million which will be transferred to Mr Sharp, along with a lump sum of £900,000.
After meeting in 2007, the couple married in 2009. Their marriage ended three years ago.
The judges in the appeal case were told by Mrs Sharp's representatives that "because this was a short marriage, he (Mr Sharp) should not get half of the matrimonial pot''.