Myerson v Myerson

Author: Andrew Nellist
Family Lawyers had been waiting intently for the judgment in the case of Myerson v Myerson. The Court of Appeal was asked to consider whether significant changes in the value of matrimonial assets, as a consequence of the economic downturn, should be seen as a reason for the court to tear up a Clean Break Financial Order and deal with the financial matters afresh.
In the case of Myerson the credit crunch had led to a very significant reduction in the value of shares which had been retained by the husband.
In finding against the husband, the Court of Appeal made it very clear that reduction in value of assets, due to the credit crunch, was not an unforeseeable new event (a Barder type event), that should lead to the Order being set aside.
As things now stand, the order provides for Mrs Myerson to receive more than 100% of the matrimonial assets. However, some of the lump sum payment due to be paid to the wife by instalments has yet to be paid and in a further hearing later this year the Court is due to consider whether these payments can be varied downwards.

