The Financial Times quotes James Riby on London’s reputation as ‘divorce capital' of the world
Announced earlier this year, the Law Commission is set to review the way in which a couple's finances are dealt with upon divorce.
London has long held the reputation of 'divorce capital' of the world and it is likely that this review will focus on the favourable treatment given to the spouse of the main breadwinner - often (but not always) a non-working wife.
This FT Wealth feature explores whether London’s reputation as the world's ‘divorce capital’ could be tested by the coming legal shake up, and considers external factors such as Brexit which have already created an additional layer of complexity for wealthy international couples looking to divorce in London.
James Riby, Partner, provides comment for the feature on the impact of Brexit:
"Brexit has made English Courts less attractive for wealthy international couples than any of the proposed reforms, because there is now a real risk that English judgments will not be recognised and enforceable abroad, and enforcement against foreign assets is often crucial in wealthy cases if the Court’s award is to have any hope of actually being implemented.
“With the EU refusing our re-entry into the Lugano Convention, there is no end in sight to this problem or any idea as to what the solution may be."
Read the full article in the Financial Times here (subscription required).
