₦airaland Forum

babygirlfl:
I think 65/35% was very unfair to the man. I believe the couples assets while married (not before or after) should be shared 50/50 irrespective of gender.

SisterCaro:
You have answered yourself. It would not be 50/50 if he was allowed to just waste $2million and still get 50% of what is left.

cococandy:
I've a problem with the term 'husband's money'
If they were married it belonged to both of them.

But as is pointed out in the story. The judge was obviously biased towards the woman and against the man.

65-35 ke?

What happened to 50-50?

Is it because he allegedly wasted 2million of the family money before it could be shared?

[size=14pt]Ex-banker left with £450,000 from £3m in divorce deal wins bigger share of fortune at Appeal Court[/size]

A former banker has been granted an extra £370,000 in his divorce settlement after challenging the initial verdict.

The Court of Appeal said the judge was wrong to include William Murphy’s company deferred compensation fund in its calculations.

The fund, from his former employer Merrill Lynch, was notionally valued at £550,000

The appeal judge also found that Mrs Justice Parker was not justified in ruling that Mr Murphy had wasted £2million of the family assets after separating from his wife, Helene, in 2006.

Lord Justice Thorpe, who headed the panel of three appeal judges, said the accusation was ‘unfair to the husband’.

Mr Murphy, who worked for Salomon Brothers in New York and Merrill Lynch in London, will now get nearly £820,000. His wife’s share was cut from £1.9million to £1.5million.

He can also claim the substantial legal costs of the case.

The assets of the couple, who were married in 1996 and have no children, have been split 65/35 in favour of Mrs Murphy.

Lord Justice Thorpe said this was justified as Mr Murphy had greater future earning potential.

The case came in the week a leading family lawyer called for an end to court rulings which left wives living in comfort on the back of their husbands’ money.

Baroness Deech said handing a husband’s wealth to the wife after a short childless marriage was demeaning to women who were fully capable of finding work.

She said such over-generosity to women had made London the divorce capital of the world.

At the time of Mr Murphy’s settlement, the former banker was earning nothing, his lawyer Martin Pointer QC, had told the court.

But his wife Helene had a handsome income as a director of a London art gallery, he added.

Lord Justice Thorpe, who headed the panel of three appeal judges, said the couple met in New York where they were both working in 1997 and when he was posted to London, she gave up her job to follow him.

They married in Ireland in 1998 and separated in 2006. The couple, both in their early 40s, had no children.

Mr Murphy was a ‘high earner’ in the banking world until 2004 when he was made redundant and has not had a paid job since, said the judge.

The couple had enjoyed a ‘lavish lifestyle’ and lived in a £7 million house in Chelsea.

In the original divorce settlement the High Court judge Mrs Justice Parker gave about £1.88million to Mr Murphy’s wife, two thirds of the couple’s assets, plus her share of the Dublin company.

‘The judge adopted a discriminatory approach to the question of need,’ Mr Pointer had told the court.

Saying the judge had regarded the wife’s needs as pre-eminent, he asked: ‘How could this be so? The parties’ needs called for equivalent consideration and, almost certainly, equal treatment.’

Lord Justice Thorpe said the battle over the assets of the marriage stretched over a period of two years at the end of which Mrs Justice Parker had included the deferred compensation scheme from Merrill Lynch as a liquid asset which was therefore divided between the parties on the 65/35 basis.

Lord Justice Thorpe said it was also pointed out to the judge by the husband’s legal team that she had relied on evidence from the wife’s team that Mr Murphy had wasted £2 million of the family money.

‘The husband’s team asserted the danger of the judge’s reliance on a schedule (of expenditure) which was not agreed and not supported by evidence and which was plainly wrong in some instances.’

But Mrs Justice Parker had rejected both points and had not amended her final judgment, said the appeal judge.

Lord Justice Thorpe said the compensation scheme was not a liquid asset because it involved risk investments with no maturity date and was not available to the husband.

But he said the husband’s claim that his former wife’s share in an Irish company should also be part of the marriage assets failed because any return was likely to be ‘very much in the future’.

The appeal judge said it was ‘obvious’ that the husband’s compensation scheme and wife’s third share in the Irish company should be taken out of the calculations for the settlement.

But Lord Justice Thorpe said the unequal share of the assets could be justified as a price the husband must pay for a clean break and to recognise the disparity in future earning capacity and access to capital.

‘The husband asserted he had no prospects for the future but the judge roundly rejected that.’

He said that although the wife had retrained in the field of the arts, salaries were much lower than in banking.

Lady Justice Smith and Lord Justice Patten agreed with the ruling.

4Play:
Looks like Nigerian fiscal policy is going to go the Osun way, i.e., debt fuelled spending. I say this because fiscal revenue remains disappointing 6 months into the new regime. If revenues next year would be high enough to meet such spending, it should be happening already.

pleep:
sagamite! long time ooo

Ishilove:
Is having an orgasm sinful?

You said listening to Christopher will make a sapiophile girl orgasm. I intend to download an audio file of the old boy speaking, hence the anticipation

Miggs:
you gave me a "like" then you "unliked" my post because of its "rantings of an ant" line?you really have to work on your sense of humour.that's why sagamite always wins his arguments because he replies his detractors with facts mixed a tinge of humour which gives his posts a populist appeal.i'm only replying you because your posts are quite interesting but you've got to give sagamite a break.finally, my "urban guerilla" personal message was only meant to amuse not to offend anyone.i'm done

firstEVA:
why the lies? Swear with your left gay testicle that u've got no man boobs

EnlightenedSoul:
My grammar is not that great. If you have an appreciation for eloquent English speech, you should look no further than the late Christopher Hitchens, IMO. He has had that seemingly typical weird old Brit look to him, but the man could make a sapiophile type grammar-girl orgasm simply from listening to him articulate himself, I'm sure lol.

I warn you, though. He was an outspoken journalist. An outspoken atheist, rather. A brilliant literary badass of our times (RIP).

Ishilove:
You start every sentence with 'you are cretinous person'

Haa, Saga, bobo yi e ti like wahala ju

Ishilove:
Do you have man boobs?

lebesgue:
Modaran, see as these people gang up on Sagamite. Well sha, diaris god o. But 3 on 1 is not fair na.

firstEVA:
hahahahahahahahaha, keep deceiving yourself u retarded monkey, second class citizen. Bot bellied and big brested fagggot

Captainswag225:
oh boy try n make sense for once. u are boring as hell.

firstEVA:
u have been slaughtered to pieces by my dear captain with the swag of a real man, all his posts ooze intelligence, u are too dumb to understand my previous post. Faggg in london

firstEVA:
u are a basstard, u in ur faintest imagination think everyone on Nairaland knows you and where u hide your head? U are suffering from delusion of grandeur. U are a disgrace to Nigerians doing legit jobs abroad, credit card thief. Ur prostitute mum is back home thinking her son is "making it" abroad, not knowing he steals Ccs and has turned into a big breasted man LovePeddler

firstEVA:
Sagamite u can only humiliate us in your dreams, u second class citizen. How many little white children have called you monkey today?

firstEVA:
he is awesome, the best boo in the whole world, he makes sense even without typing talkless of when he types, he is an epitome of intelligence. Can any one say same about you? U are a razz big breasted credit card thief with no papers hiding in london. The only words uvelearnt is cretinous f?ctard

firstEVA:
and why will I think so? I should know u are in london because? U are an embodiment of rascality and thugry, typical of the blacks in America, so it's convenient to conclude u are in America. Fagggot.

firstEVA:
ashawo N20 is what your mum did to put food on your table before you eventually travelled to wherever to continue the hustle, suffer head. Second class citized, credit card thief. U will soon be caught and thrown out.

firstEVA:
I am a proud product of Nigeria's education system. U are a low life second class citizen who is being hunted night and day by the police in London, credit card thief.

firstEVA:
and it is written on your breast that you are not in America?
U are a complete nuisance. So u are in London, one of those giving Nigeria a bad reputation, credit card thief and the likes. Please come back to Nigeria, u've caused us too much embarrassment. . Big brested fagggot.

Captainswag225:
are u out of vocabs? stop stealing my quotes, its called plagliarism..... prove to me that u can be creative, say something without including moronic, crenious or person......silly twerp, looks like u are running outta steam.... care for a bucket of water?

Captainswag225:
fatherless oldman in diapers..... ur disgrace has been easy. yeah

Captainswag225:
deluded chipmunk,, am still waiting for your first sensible post of the day! come on gimme ur best shot.

EnlightenedSoul:
Don't even try to pose as instructor to me. Fuuktard aside, you were not attacked prior to your showing up. It seems you have a complex. You need to just leave her alone and try for calm henceforth. Moving forward, if you continue to insult each other it's no longer my business.

Where is my request?

EnlightenedSoul:
Um, I'm supposed to know your history?

Nonetheless, funny and sexy arrogance aren't compliments? Well what do I know...

You need to take a chill pill!

And you still haven't done as I asked.

EnlightenedSoul:
Sphincter scarring turd, it was obviously a precaution. I mean, just look how you jumped at her for spreading your influence and calling you funny and sexy?

You still haven't done as I asked?

Captainswag225:
oh boy, u dont understand simple grammar? wetin happen na? ur brain don crash? schizophrenic bastard