Local fruit farmer appeals for a discount to be applied on his £12m divorce pay-out because of Brexit uncertainty
A fruit farmer from Kent, with a family fortune of approximately £30 million, appealed against an award that he pay his wife of 26 years £12.2 million by way of divorce settlement. He appealed on the basis that the award did not take account of the impact that Brexit will have on his farming business and on the ground that his ex-wife should not benefit from any of his wealth generated by virtue of inheritance or gifts.
The court at first instance ordered that £5 million be paid by June and that a further £7.7 million be paid by March 2018. However, counsel for Mr Mansfield argued that this award was “too much too soon” and that it did not take account of the impact on the UK of leaving the EU which could “potentially undermine” the value of the business.
Regarding the gifts and inheritance Mr Mansfield received from his father, Mr Mansfield Snr built up his farming business in the sixties which, by the time of his death in 2011, was being managed by his son and was worth millions. Counsel for Mr Mansfield argued that the award of £12.2 million failed to take into account Mr Mansfield’s “very great input” while counsel for Mrs Mansfield contended that the couple had worked hard over the course of their 26 year marriage to build up the business.
In his judgement a Court of Appeal judge found that the argument about Brexit was unlikely to succeed and refused permission for the appeal to move forward. However, the appeal in relation to the impact of inheritance on the value of the business was “arguable” and was granted permission to continue.
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