The UK Government announced earlier this year that the Law Commission will be opening a review into current legislation regarding the way in which a couple’s finances are dealt with during divorce proceedings.
Partner Renato Labi commented that “while the courts have done a good job of moving with the times, the rules are 50 years old and each judge still has a lot of discretion as to how assets can be split.”
He further discussed the potential implications of legislative change, noting that “even if there is reform, London remains a wealthy, world-class and cosmopolitan city, which attracts people and money from around the world. Some of those people will marry and divorce and I suspect that the divorce courts in London will remain busy for a long time to come.”
Renato’s comments were published in the Financial Times and Forbes Russia, here and here.