Thursday, February 17, 2011
From Bloomberg Businessweek:
Jan. 28 (Bloomberg) -- A British millionaire was ordered to increase his ex-wife’s payout to 8 million pounds ($12.7 million) from 5 million pounds in a case where a judge said divorces involving rich couples are having an “unfortunate” effect on U.K. family law.
Gareth Jones, 58, was told to pay the money to his former wife Victoria Jones, 44, by the Court of Appeal in London today. The three-judge panel ruled that a lower-court judge had miscalculated the value of the assets accrued during the couple’s 10-year marriage.
Family law is becoming “dictated by cases which bear no resemblance to the ordinary lives of most divorcing couples,” said Nicholas Wall, one of the judges.
Read more here.