The Court of Appeal has ruled in favour of City trader, Julie Sharp, ruling that her former ‘short-term’ husband is to receive a reduced sum of £2m in total, less than the initial £2.74m awarded in 2015.
Alex Carruthers, Partner, commented: “This groundbreaking ruling ultimately dictates that marriage is no longer a financial partnership in some circumstances. This raises far more questions than it answers.
It opens the way for countless legal and philosophical arguments. There was previously no legal distinction between a ‘short’ and a ‘long’ marriage, and therefore no defined point after which wealth generated should be shared.
The only clarity provided by this judgment is that there is now a further issue for divorcing couples to bicker about, and for lawyers to profit from.”