Maintenance order ‘disproportionate’ as wealthy businessman had made substantial provision for woman, appeal court finds
A “disproportionate” order requiring a wealthy businessman to pay lifelong €10,000 monthly maintenance to his ex-wife has been overturned by thediscretion to make other orders on the basis that a roughly 50/50 split of the parties’ considerable assets constituted proper or “fair” provision for each of them in divorce proceedings.
The man will retain a mortgaged investment property, a substantial pension and valuable shares and share options. Having divided a “relatively ample pot” as evenly as it could, and making provision for the woman via maintenance lump sum payments until his retirement, the High Court “lost sight” of the fact that provision meant both would be more or less in “the same comfortable circumstances” when the man reached retirement age.
As the now owner of the family home, the woman has an option in the future to release the equity in that property, which would have no tax liability, by trading down to a smaller dwelling, leaving her with a further cash resource, Ms Justice Faherty said.The man and woman married more than 30 years ago, have adult children and separated a few years ago, the judge noted earlier in the judgment. The man was the principal earner and the woman the homemaker during the marriage.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Auxilion Invests €10 Million, Creates 30 New Jobs for UK ExpansionIrish technology consulting platform, Auxilion, is investing €10 million and creating 30 new jobs over the next three years to bolster its managed services business and expand into the UK market.
Read more »
AA Motorist Survey Highlights Winter Car Maintenance HabitsA recent survey carried out by The AA underlines how prepared Irish motorists are for winter, with both positive trends and some causes for concern emerging from the car maintenance habits of Irish drivers.
Read more »
Boiler Maintenance and Heating System Efficiency Tips for JanuaryThis article provides essential tips for maintaining your heating system during January, focusing on boiler services, radiator efficiency, and exploring alternative heating options like infrared heaters and heat pumps. It also highlights the importance of insulation upgrades when considering heat pump technology.
Read more »
Order of Malta Ireland Faces Calls for Reform After Sexual Abuse ScandalAn independent review has found that the Order of Malta Ireland needs to overhaul its child protection policies following a sexual abuse scandal involving one of its volunteers. The review recommends a culture shift, improved vetting procedures, and stricter guidelines for trips involving children.
Read more »
Order of Malta Ireland Faces Call for Reform After Sexual Abuse ScandalAn independent review commissioned following a sexual abuse scandal recommends major reforms for the Order of Malta Ireland. The review highlights the organization's 'culture of deference' and calls for enhanced child protection measures, including thorough vetting of all adult volunteers and stricter guidelines for trips involving children.
Read more »
Enoch Burke Returns to Wilson's Hospital School Despite Contempt of Court OrderEnoch Burke, a schoolteacher in Ireland, has returned to his former workplace, Wilson's Hospital School, despite a court order forbidding him from doing so. This action could lead to him facing another prison sentence.
Read more »