Case No. BV20D07073

[2022] EWFC 41 which reviews the relevant cases succinctly. Engagement itself does not automatically mean the marital partnership has commenced. I am not sure that there was settled cohabitation during the period from September 2003 to June 2004. Perhaps most importantly, the Wife had to get either the permission of her first husband or a court order to allow her to remove the wife’s adult children from Country C to Country D. She might not have been able to do so. Moreover, the Wife’s first husband was still maintaining her at the rate of C$5,000 per month until the date of the relocation. I am therefore going to take the date the marital partnership commenced as being when the Wife and her adult children moved to Country D in June 2004. It just so happens that this corresponds with the agreed Chronology although I entirely accept Mr Todd’s point that this is not determinative. It means that the duration of the marital partnership was 15 years and 9 months. It also follows that the Husband had three and a half years thereafter working at the top of his game in Country D for Firm H, before his retirement plus an additional D$1 million thereafter. On any view, he earned around US$40 million gross during that period.83.I find it almost impossible to say what proportion of the £80 million was earned during that period. I accept that the Husband started work in 1972, some 32 years earlier. I do not, however, take the view that it is appropriate to say that one day worked in 1972 is equal to one day worked in 2004. When Mostyn J referred to that, he did so in the context of a single privately owned business built up over a long period. The Husband’s earnings in 1972 will have been minute compared to his earnings in 2004. Moreover, he had to share at least a significant part of the earnings he had made up to 2002 with his first wife. On the other hand, he says that he paid a great deal of tax in the period since 2004 and the shares granted to him lost their value in the banking crisis. All I can do is say that I find that a part of the sum of £80 million is money that was earned during the marriage. Whilst the Wife would be entitled to an equal division of that money, it is impossible to quantify it accurately.84.In total, I have found the matrimonial assets to be £112,631,062 although this figure combines assets in two different categories, namely those that can be described as the matrimonial acquest and those that were matrimonialised by the tax planning exercise. I take the view that it would not be appropriate to divide the figure of £112,631,062 in two. This marriage lasted 15 years and 9 months. Whilst this is, therefore, most certainly not a short marriage, it is equally not a very long one. I simply cannot ignore the pre-marital assets brought to the marriage by the Husband, which I accept is an important feature. On the other hand, the total includes NN. It also includes earnings in Country D during the marital partnership and value generated in the BT business during the same period. I have decided that, overall, the appropriate division of the matrimonial assets is 40% to the Wife and 60% to the Husband. I propose to round the figure down very slightly so that the Wife will receive £45 million. The Husband will get £67,631,062 plus the land at BT worth £20,017,264, making a total of £87,648,326. On this basis, the overall split is 34% to the Wife and 66% to the Husband. As a cross-check, I am entirely satisfied that this is an appropriate division, taking into account all the section 25 factors. It is fair and just. It reflects both parties’ contributions and all the other circumstances of the case.85.I do not need to undertake a needs assessment as it is quite clear to me that the Wife can live very well on a sum of £45 million. I do intend to direct a transfer of NN to her. It will be up to her if she decides to keep it or not. She must transfer her shares in BT Ltd to the Husband on the basis that he provides her with a full indemnity. The Husband must pay his share of the Capital Gains Tax on the transfer of NN to the Wife. I will leave counsel to work out the details of the exact amount the Wife should pay to the Husband by way of lump sum to ensure full compliance with my judgment. The Husband will pay a further sum of £179,022 to the Wife to cover her costs of the mistake/recission claim.86.I assume the parties have given me jurisdiction to deal with the question of Y’s maintenance. The Husband will pay the sum of £30,000 per annum index linked in accordance with the CPI index, until Y completes full-time education. He does not have any earned income as he has retired but he has very significant capital wealth in excess of that of the Wife. The Wife, certainly at present, has full responsibility for all Y’s costs, including her expensive eventing hobby. After Y finishes her secondary education, there will be a split in the periodical payments so that one third goes to the Wife and two-thirds to Y until she completes tertiary education to the end of first degree. He will also pay both children’s school fees and extras appearing on the school bill. The parties will share the costs of X, given the joint lives with order, effectively paying when he is with each of them.87.I am very grateful for the immense help I have had with this case from all those involved. Nothing more could have been said or done on behalf of either spouse.Mr Justice Moor 18 May 2022.1 C$ is used to denote the currency of Country C.