Our website is set to allow the use of cookies. For more information and to change settings click here. If you are happy with cookies please click "Continue" or simply continue browsing. Continue.

Family Law

The leading authority on all aspects of family law

17 JAN 2012

FINANCIAL REMEDIES: Gowers v Gowers [2011] EWHC 3485 (Fam)

(Family Division; Holman J; 9 November 2011)

The couple were married for 12 years and had 5 children. The husband was in a new relationship and had another child. The husband was closely connected to a company but was not the owner, he had been the founder and chairman and main driving force but was now an employee. The husband had borrowed £370,000 from the company. The husband was declared bankrupt. Shares owned by company were sold for $10m, as major shareholder, husband would be likely to receive a share of the profits but actual amount unclear.

The judge made a freezing order with the proviso that if £500,000 was paid into court by the company the freezing order would cease to have effect. The company paid the £500,000 into court on the understanding it would only be tied up for a few weeks when matters were resolved as security. The judge, finding that the husband retained ownership and control of the company, ordered the £500,000 to be paid to the wife in part payment of a £900,000 lump sum. The husband and the company appealed.

The court did not have jurisdiction to order the company to pay £500,000 to the wife. The husband had not been the sole owner of the company, significant third party interests would be affected by the order, the company was a trading company which employed 80 people including a non-shareholding director.



Law, Practice and Precedents

This work provides commentary, checklists, procedural guides and precedents on the subject in a...

Family Court Practice, The

(Red Book)

The Red Book is the acknowledged authority on practice and procedure

More Info from £498.00
Available in Family Law Online
Subscribe to our newsletters