The headline to this article has stirred great interest. A bitter divorce resulting in three weeks at court has resulted in this couple each having incurred legal costs of over £5million. This will include the costs of the lawyers, barristers and experts.
Clearly the assets in dispute are able to cover this cost, but within the article there is reference to the impact this dispute has had on the adult children. Although the Judge has not authorised all of the details of the case to be released, it is clear that the adult children are also part of the litigation and have their own legal teams involved as well. This is quite unusual but may be because they are involved in the business or own a share of the assets themselves. The structure of the settlement will clearly have an impact on them, for the court to have allowed them to be involved in the litigation. In normal circumstances adult (non-dependant) children who may inherit assets at some point in the future would not be a factor the case would take into account.
The damage that is likely to have been (and will be) incurred to those family relationships is a cost that cannot be quantified. Any cases reported such as this highlight the advantages of mediation, collaborative law and arbitration. More details can be found at www.freethsoxford.co.uk/how_do_i_resolve_financial_issues
If you would like more details about alternative dispute resolution please call me on 01865 781182 or email me- Claire.firstname.lastname@example.org
The Norwegian businessman who launched Viking Cruises and his estranged wife are fighting over money at a London divorce court and have run up the best part of £10 million in lawyers' bills, a judge has been told.Torstein Hagen's battle with Ellen-Karine Hagen in the Family Division of the High Court is costing the best part of £100,000 a day in legal fees, Mrs Justice Roberts has heard.