Open positions
Open positions
The wife seeks:
The net proceeds of Property A (c. £2.7 million). Pending sale the interim position remains in place.
Unquantified additional capital – which awaited the evidence of the accountancy experts. In closing Mr Lewis tells me that this is whatever figure is required to produce arithmetical equality. When I raised with him whether I should discount illiquid assets when comparing then with liquid assets his response was that the wife would be prepared to wait for her money where there were issues of liquidity, but advanced no discount.
After sale of the house global maintenance of £15,048 pm (c. £180,000 pa) until the youngest child completes university – but with a hope that this may be capitalised by the additional capital.
Her outstanding legal fees. These must be the £38,302 owing to Lawrence Stephens because the ES2 recorded that funds were held by her solicitor under an LSPO to meet these costs.
The husband to meet school and university costs.
The husband proposes:
Equal division of the net proceeds of sale of Property A – some £1.35 million each. Pending sale the interim position remains in place.
He pays the wife a lump sum of £1.2 million within 28 days of the sale.
That lump sum he says capitalises spousal maintenance (and in part meets housing needs) so he proposes he pays only child maintenance at a total of £2,421 p.c.m. (c. £29.000 p.a.)
And he meets school fees.
He says that wife’s debts to her previous solicitor £38,302 and £4,500 (the latter being the costs order against her that I made at the PTR) should be excluded.
And, in the light of the wife’s litigation conduct he seeks a costs order. That in closing was put as the justification for excluding the £38,302 to Lawrence Stephens.
- Heading
- Introduction
- Summary Background
- Proceedings
- Husband’s business interests
- Other Financial Resources
- Open positions
- Approach to the case
- Oral evidence
- Determination of accountancy issues
- W’s earning capacity
- An amended ES2
- Reflections on approach – sharing or needs
- Housing needs
- Wife’s income needs
- Capitalisation or Periodical Payments
- Miscellaneous and smaller matters
- Conclusions
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