After incurring legal fees of around £500,000 each, Nicholas and Janine Robertson have heard how High Court judge Mr Justice Holman has ordered their assets (totalling around £220 million) to be divided.
Mr Robertson, 48, entrepreneur and co-founder of the fashion retail business ASOS, and Mrs Robertson, 43, described by the judge as an ‘excellent home-maker and mother’, had unfortunately failed to agree on a financial settlement. As a result it was left for the judge to decide that Mrs Robertson should receive one-third of the joint assets (around £70 million). The assets include around £60 million in property holdings as well as £2 million in luxury cars and yachts.
Despite Justice Holman having ‘urged’ the parties to ‘settle the case’ the matter was contested to the end.
It is vital (albeit sometimes quite difficult!) for parties in divorce proceedings to maintain a sense of perspective regarding their finances. Every pound spent on lawyers is money not available in settlement—and if a fair agreement can be reached without expensive contested proceedings then both sides are likely to be able to walk away in a healthier financial position.
At Slater Heelis all our family lawyers are members of Resolution, the national organisation for family lawyers committed to resolving disputes in a non-confrontational way. Resolution has highlighted the importance of such a constructive approach to dealing with financial settlement in divorce—and ignoring this guidance can prove to be costly.
If you or a friend are considering divorce proceedings, contact our friendly and professional Family Team for expert advice on 0161 969 3131.