Pre-nuptial agreements were given significant recognition in English law for the first time yesterday after a wealthy German heiress won a landmark legal battle with her former husband.
Three Appeal Court judges ruled that the assets of?Katrin Radmacher?- a paper industry heiress said to be worth ?100 million - should be protected from her French ex-husband because of the?pre-nuptialcontract?they signed before they?married.
They said that in future cases, judges deciding the division of?marriageassets should give ?due weight? to?pre-nuptial contracts?freely entered into by the parties.
In what one?divorce?solicitor described as a judgment that was ?hell-bent? on enshrining?pre-nups?in law, the judges even suggested the agreements could be an alternative to the ?stress, anxieties and expense? ofdivorce?hearings in the courts.
Miss Radmacher, 39, had brought her case to?Court of Appeal?to challenge an earlier ruling in the High Court that she should give ?5.85 million to Nicolas Granatino, despite him having signed a contract vowing never to make claims on her if they split up.
Lord Justice Thorpe, sitting with Lord Justice Rix and Lord Justice Wilson, said: ?In so far as the rule that such contracts are void survives, it seems to me to be increasingly unrealistic.
?It reflects the laws and morals of earlier generations. It does not sufficiently recognise the rights of autonomous adults to govern their future financial relationship by agreement in an age whenmarriage?is not generally regarded as a sacrament and?divorce?is a statistical commonplace.?
The contracts are still not binding under English law, as there is no provision for them under Section 25 of the 1973 Matrimonial Causes Act.
But?Vanessa Lloyd Platt, a leading?divorce lawyer, warned that those who signed?pre-nups?thinking they were worthless would now be making ?a seriously flawed move?.
?This will open the floodgates for people asking for?pre-nups,? she said, noting: ?It?s not just the wealthy, it?s filtered down to the middle classes.?
To read the article on the Marie Claire website?click here!
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