UK: Divorcing Man Pays 105 Percent Of Assets

Submitted by anthony on Fri, 2009-04-03 04:09

Story here. Excerpt:

'LONDON, England (CNN) -- A British court Wednesday told a business financier he would still have to pay a $13.6 million divorce settlement despite losing a fortune in the credit crunch.

Brian Myerson had told the UK Court of Appeal that instead of receiving £14.6 million ($21 million) from a division of his assets, he would now be £½ million out of pocket, according to the UK Press Association.

The court rejected his appeal, saying the "natural process of price fluctuation, however dramatic" did not justify changing the settlement, PA reported.

Under the original settlement made last year, Myerson, the former CEO of Principle Capital Holdings, was ordered to pay 43% of his then total £25.8m assets to his wife.

Lawyers for Myerson said because of the economic downturn, the wife's share of the total assets under the order would now be 105% and the husband's would be -5%.'

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Comments

If his earnings had gone up, would they still use the same total amount, or rather the 43%? Do I really need to ask you guys that?
-ax

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Submitted by axolotl on Sat, 2009-04-04 01:33

Marriage is a lose-lose proposition for men.

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Submitted by digitalhermit on Sat, 2009-04-04 21:01

This is just a commercial for tying the knot, isn't it?

What the ex-wife gets should be based on how much of it SHE ACTUALLY EARNED. Of course, with feminist canard in every facet of the government and divorce and family courts, I'm not sure if we'll ever see this logical concept engrained in law.

Evan AKA X-TRNL
Real Men Don't Take Abuse!

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Submitted by xtrnl on Tue, 2009-04-07 04:15

Since women in marriages are oppressed prostitutes, they "earn" 100 dollars per 20 minutes. Of course this only comes to light during a divorce.
-ax

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Submitted by axolotl on Tue, 2009-04-07 04:20