In the settlement of a recent high value divorce (Cooper Hohn v Hohn), the court has reflected the husband's work in building up wealth during the parties' marriage and after their separation, by awarding the wife 36% of their overall assets, rather than the half share she was seeking.
This makes sense given that the judge found that the financial returns that the couple had received were only achieved as a result of the husband's ability to identify a new investment opportunity and make it work.
Also, it still meant that the wife still received $530m, where their combined assets were $1.5bn in total, so it is safe to say she will not be struggling financially as a result!
It is important that issues, such as special contribution by one person during a marriage, are raised early and firmly when considering financial settlements on separation, which we specialise in doing.
The wife was awarded $530m from available assets of just under $1.5bn which equated to 36% of the global resources. The wife would bear her share of any contingent tax risks and she also had to make provision for the escrow which would be established in respect of tax indemnity. Such an award properly reflected her contributions and her entitled to a fair share of the marital acquest and post-separation accrual.