Issue 12: Montfort
62.There was an issue about another French property called Montfort. The issue related to its value in circumstances where the wife is going to retain it. There was no dispute that whatever its value, half would be attributed to the wife under the agreement. However, on the final day of the hearing it was agreed that the husband will now retain this property and that the value attributed to it will be €2.9 million, rather than the lesser figure provided by the Single Joint Expert. I will therefore use the agreed figure of €1,184,916 for half of the net proceeds in the Outcome Schedule.
- Approved Judgment
- Mr Justice Mostyn:
- The correct entitlements of the wife under the modified PNA and their value
- The quantum of child support to be awarded to the wife for the benefit of the children, and whether the award should be secured.
- Background
- The PNA
- “EACH PARTY TO THIS AGREEMENT FULLY UNDERSTANDS AND AGREES THAT HE OR SHE IS RELINQUISHING VALUABLE PROPERTY RIGHTS BY SIGNING THIS AGREEMENT.”
- The disputes about the agreement
- Issues 1 & 2: The failure by the husband to set up the Joint Investment Fund
- Issue 3: The mortgage on Meadow Lane (1), Southampton, New York
- Southampton Residence
- Issues 4 & 5: Does the Modification Agreement cover Meadow Lane (2)?
- Future Residences
- Issues 6, 7, 8 & 9: Should the mortgage on the family home be taken at £18m or £16m?
- Issue 10: Is the wife entitled to a credit of half the net sale proceeds of 26 Downing Street?
- Issue 11: Should the wife be entitled to 100% or 50% of Rue Duphot Nos. 2 and 3?
- Paris, France Apartment
- Issue 12: Montfort
- Issue 13: Latent tax
- Issues 14 and 15: Should any of the wife’s legal costs paid by the husband be reimbursed to him?
- Legal Fees and Indemnification in Event of Suit to Enforce
- Issue 16: Disputed artwork
- Artwork
- Issue 17: Compensation for stolen jewellery
- Conclusion on the wife’s entitlements under the modified PNA
- £37,489,392
- £37,489,392
- The wife’s capital needs
- The reasonable annual income to be derived from the wife’s Duxbury fund
- £1,110,316
- The wife’s child maintenance claim
- the child is entitled to be brought up in circumstances which bear some sort of relationship with the father's current resources and the father's present standard of living.
- I accept, in accordance with authority, that the children should be able to have a lifestyle that is not entirely out of kilter with that enjoyed by them in Dubai and that enjoyed by HH and his family
- future
- This case: decision
- Conclusion
- Permission to appeal (“PTA”)
- SCHEDULE 1