Case No. EWFC-43

5.The broad chronology of the initial financial remedies proceedings was as follows:-(i)The wife issued Form A on 2nd February 2018.(ii)The case went through all the usual stages, including an FDR on 26th July 2018, and eventually reached a final hearing over five days before DDJ Todd at the Central Family Court between November 2018 and January 2019. Both parties were represented by experienced Counsel, Mr Peter Mitchell for the wife and Mr Matthew Firth for the husband. (iii)At the end of the trial DDJ Todd delivered a comprehensive written judgment dated 18th January 2019 and made a detailed order carrying the same date (although I think it must have been perfected a little after this date and I am told that Counsel on each side contributed to, indeed led, the drafting process, as is perfectly normal). (iv)The judgment (amongst many other things) carefully analysed the sums, in terms of income and capital, which the husband was likely to receive in the future from the SS Company (for whom he then worked as a senior portfolio manager). DDJ Todd took the view that the husband may well in due course receive significant capital payments on his future departure and would also probably receive ongoing sums from various ‘Carried Interests’.(v)The judge noted that the husband’s basic salary was £250,000 per annum gross and that he was likely to receive this sum plus an ongoing annual bonus which had recently been c.£200,000 per annum gross and he found that “the husband can be confident that the strong likelihood is that he will continue to receive a bonus at this sort of rate”. Accordingly, and perfectly appropriately, the order was made on the assumption that this would be the case.(vi)The order contained a number of provisions. It distributed the fairly limited amounts of then existing capital, and made some provision for future payments by the husband, the pertinent ones of which for current purposes can be summarised as follows:-(a)The husband undertook to pay 25% of the net sums received from capital payments received by him (within certain parameters) on his leaving the SS Company – see paragraph E(vii)(a) of the order.(b)The husband undertook to pay 25% of the net sums received from certain defined ‘Carried Interests’ – see paragraph E(vii)(b) of the order.(c)The husband undertook to keep the wife fully and promptly informed of matters pertaining to the future payments under paragraph E(vii) of the order – see paragraphs E(viii) and E(ix) of the order.(d)The husband was to pay substantive global periodical payments until the death of either party, the wife’s remarriage, further order of the court or until C ceased full-time education up to a first degree – see paragraph 4 of the order. (e)The husband was to pay further substantive periodical payments calculated by reference to his annual bonus payments and subject to an overall cumulative cap of £61,734 – see paragraph 6 of the order. (f)The husband was to pay child periodical payments calculated by reference to the whole of the children’s school fees until they respectively left school – see paragraph 7 of the order.6.Nobody sought to appeal this order and the parties implemented its immediate capital division and the husband initially complied with his obligations for ongoing payments. The husband initially paid the periodical payments due. The situation seemed to be settled.7.The husband had incurred c.£167,000 in legal costs in the course of these proceedings and there was no inter partes order for costs.