01 Jul 2021
Partners Frances Hughes and Mark Harper comment in Spear’s on how top lawyers win when UHNW divorce becomes a battle
Oftentimes, when UHNW individuals decide to get a divorce they make an effort to make it less confrontational, however many times these result in acrimonious legal battles. And in order to win the battle, it often means that they have to fight with the latest tactics and on multiple fronts.
Frances Hughes commented:
“Despite best intentions, collaborative processes and mediation can often play out to the advantage of one spouse at the expense of the other – particularly as one person is often devastated and can’t really think straight.”
“Getting into scrappy litigation isn’t good for anybody, but clients can end up with a long time to regret it if [they] don’t get a decent financial deal”
The UK has become the centre for international big-money divorces, partly because of a system that begins with the assumption that all assets will be split 50/50 between the two parties. In the context of other jurisdictions, these outcomes are significantly more favourable to the financially weaker spouse.
Mark Harper commented:
“In France, a divorce in which a wife gets practically ‘zero assets’ might pan out very differently elsewhere. In the UK, she might get £10 million.”
Often, it’s not a case of the headline figure awarded in a divorce, but the actual sum that one is actually likely to receive.
Mark commented further:
“In these big international cases, sometimes it’s better just to do the best deal you can and be sure that you’re going to get the money.”
Read Frances and Mark’s comments in Spear’s Magazine.