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Most valued asset

Overview

As specialists will be aware, the recent case of Myerson was decided by the Court of Appeal following extraordinary events occasioned by the economic crisis. There will have been many cases that were settled in 2008 where the collapse in economic confidence caused a fundamental change in the value of assets.

The conditions are parallel to those pertaining during previous recessions where the issue was more often a dramatic fall in the value of the principal asset, the matrimonial home. There has been clear guidance since Hope-Smith v Hope-Smith [1989] to specify the division of the proceeds of sale of a house as a percentage and not as a fixed lump sum. Despite the guidance contained within the jurisprudence, parties do continue to record the amount to be paid or retained as a fixed lump sum, often as a matter of choice rather than by reason of a failure of their legal representatives.

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