Achieving financial independence where there are liquidity issues

Holly represented a wife in financial remedy proceedings which involved extensive and varied assets. The parties owned the family home, numerous investment properties, plots of land, companies, vehicles and a SIPP. There were extensive liabilities to be considered and issues of liquidity, with the husband’s business ventures being highly leveraged.

Directions were made for the valuation of the properties, business premises and a classic car.

Holly represented the wife at the FDA and FDR hearings and advised her at a number of conferences. The case was further complicated by the husband continuing to sell assets during the proceedings, bringing to the fore Holly’s ability to keep track of a moving picture and maintain attention to detail when reviewing extensive correspondence.

The matter was settled by agreement, with Holly’s client receiving over half of the assets and being financially independent, which was considered important in light of the husband’s precarious financial position.