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High Court judge urges parties to consider arbitration in family proceedings
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In CM v CM [2019] EWFC 16 Mr Justice Moor made a short but punchy judgment after hearing cross applications involving a dispute about the wording of a letter to a single joint expert in financial remedy proceedings.
Moor J had made an order at the First Appointment for an independent accountant to answer six questions about a family business. These were:
- the current value of the Companies;
- the current value of the parties’ individual shareholdings (whether held directly or through another entity) in the Companies;
- the financial benefits that the Respondent has derived from the Companies since the accounting year ending 2014;
- the likely income that the Respondent may derive from the Companies in the foreseeable future;
- the liquidity within the Companies and the extent to which it could reasonably be made available to the parties;
- the tax arising on the sale disposal or transfer of shares in the Companies by the parties (or either of them) and the mitigation of any such tax;
Such questions are quite usual in financial remedy proceedings and are designed to provide the parties and the court with adequate information about a business to determine...
Read the full article here.
