In this blog article, Beth Abbott from our Conveyancing team demystifies the term ‘Caveat Emptor’, the principles of which are key when buying or selling a new home. What does Caveat Emptor mean? Put simply, Caveat Emptor is a Latin term...
Millionaires Ex-wife Wins Right to Seek Financial Award Twenty Years On
The ex-wife of a now millionaire husband has won her Supreme Court claim to proceed with her claim to a share of the fortune 20 years on from their divorce.
Dale Vince, started his wind-power business Ecotricity in 1995 following his divorce with Kathleen Wyatt. Ms Wyatt first lodged her claim in 2011 for a financial settlement.
Mr Vince succeeded in having Ms Wyatt’s case kicked out on the grounds that too much time had lapsed meaning it had no reasonable prospect of success and was a waste of the court’s time. However the new landmark ruling was unanimously reached by five Supreme Court justices. The case will now pass to the Family Division of the High Court to decide whether a sum is payable and, if so, the amount of the award in question.
Andrew Robinson, Director and Head of Family Law at Fishers Solicitors thinks this outcome demonstrates, once again, the huge importance of disposing of the financial aspects of any case at the time that the divorce takes place and the huge perceived unfairness that can arise if that action is not taken.
Ms Wyatt had hoped for a payout of around £1.9million but Lord Wilson ruling said this was “out of the question”.
The couple married in 1981 and had a son before separating in 1984. Their eventual divorce took place in 1992.
Andrew continued “there is a common misconception that the finalisation of the divorce itself prevents any further claims being made. It most certainly does not. As a consequence, it is just as important for those who are in agreement or those without significant income or assets to obtain a financial Clean Break order as for those who are in dispute.”
For advice on financial settlements surrounding your divorce contact Andrew Robinson at Fishers Solicitors on 01530 412167 or e-mail firstname.lastname@example.org. For further information on any of Fishers services visit www.fisherslaw.co.uk.