A ruling is awaited in the case of the German heiress Katrin Radmacher and her former husband.
Should pre-nuptial contracts be binding in law? The Supreme Court justices are wrestling with this issue – and their decision is expected shortly.
Lawyers had been expecting the ruling by now – and speculate that the delay means the justices cannot agree; or at least will each give their own opinion. Nine judges are involved, and the decision is keenly awaited.
The couple signed a prenuptial agreement that neither could claim against the other in the event of divorce but Mr Granatino, who is French, then pursued his wife, who is worth £100 million, for a settlement.
He was awarded more than £5 million in the High Court, but the decision was overturned on appeal. There is argument over whether he knew what he was signing up to; and whether he had full disclosure as to his wife’s assets.
But the case gives the highest court a chance to lay down guidelines, and to say whether the presumption in future should be that prenuptial contracts are followed, unless there is good reason to the contrary, which is what the Court of Appeal have laid down.
Wealthy men are blinded by love and most refuse prenuptial agreements to safeguard their money if they divorce, a survey shows.
A poll of highflyers earning more than £100,000 a year shows they still have a “head-in-the-sand” naivety or romanticism towards marriage, with only 8 per cent wanting or having a prenup.
At present such contracts can be taken account of by judges and have increasingly been held as “persuasive”. But courts can still decide whether to uphold them or not.
The hope is that a reform in the law would diminish the number of acrimonious court battles over assets, as with Sir Paul McCartney when he broke up with Heather Mills.
But while men accept the growing role of prenuptial agreements to protect their assets, fewer than one in 12 (8 per cent) have or want one.
The research marks the tenth anniversary of the landmark White v White divorce case.
In that case, the courts gave equal recognition to the non-financial contributions of the wife, with the default position of halving all assets if a marriage ended.
Before then a wife’s “reasonable needs” were calculated on a case by case basis.
Rodney Hylton-Potts, an expert divorce lawyer said that in his experience, at the point of a marriage break-down, men often do not feel as generous.
“While some may see men’s attitudes towards marriage as refreshingly optimistic and romantic, given the divorce rate, they should think seriously about taking safeguarding measures such as pre and/or postnuptial agreements.
It’s a brave move to have that difficult conversation [about a prenuptial contract] when everything in the relationship is rosy, but preparing for the worst case scenario can avoid a lot of animosity and costly litigation later. It need not be a breakdown in the relationship. It could be a serious car accident or unforeseen mental illness and personality change’’
Involved in a divorce battle, or about to be, or need advice about a prenup?
Come to the experts. For more information or a free legal opinion telephone 020-7381-8111 (24 hour service) or email law@rhplaw.co.uk.
