Division of Assets
Add backs and a parties conduct
In the case of Rapp v Sarre 2016, the Husband appealed against the Judge’s decision as to the division of the assets.
The assets in this case amounted to 13.5 million.
Following a Financial Remedy Hearing, the Judge confirmed that there should be a 45.5/54.5 division of the assets in the Wife’s favour.
The Judge confirmed that there should be a departure from equality due to the Husband’s conduct. This is because the Husband spent a great deal of money on drugs, alcohol and escorts.
In addition, the Judge felt that the Wife needed more than 50% of the assets as the Husband had lost his job and therefore would not be able to pay maintenance.
The Husband appealed.
The Husband argued that the parties’ needs were equal, the Wife received the better assets and the Judge did not apply the law in respect of add backs properly.
The Court dismissed the Husband’s arguments in respect of needs and the distribution of the assets.
The Court of Appeal did not comment on the Judge’s interpretation of the law in respect of add-backs, but stated the Judge was justified in his decision.
Therefore, the appeal was dismissed.
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