This judgment relates to the wife’s ‘de facto’ financial claim in a case where the husband was a musician in a well-known band. The parties’ relationship began in 1998, they married in December 2003 and separated in January 2017. There were 6 children of the family. The husband was the bass-player in a well-known band which he joined in 1994, with the band obtaining their first record deal in 1999.
The proceedings concerned the income of the husband, made from his music-making, the value of this income and the needs of the parties and the children of the family. It was found that the husband made income from 5 different ‘streams’ which included composition royalties, remuneration in relation to the broadcasts of the band’s songs and touring. Various experts, including forensic accountants, gave evidence in relation to the value of the husband’s income and consideration was given to relevant case law including B v S  EWHC 265 (Fam) and Re TW v TM (Minors)  EWHC 3054 (Fam).
In his judgment, Mr Justice Mostyn valued the total of the husband’s assets at £10,220,158 and therefore, using the equal sharing principle, awarded the wife £5,110,079 together with child support. The sum awarded was to be paid in instalments, £1,500,00 by 01/04/20, £427,864 by 01/10/22 and £427,864 by 01/10/23. Pending the first payment, the present interim regime was to continue and, pending the second and third payments, the husband was to make periodical payments to the wife of £42,786 per annum (reducing rateably on payment of the second instalment). Once all instalments had been made there was to be a clean break. The husband was also to pay child support of £12,600 per annum in respect of the 4 younger children and also to pay the children’s school fees.
The full judgement can be read here
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