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In what could prove to be a landmark ruling in the UK, the court of appeal has ruled that the terms of a prenuptial agreement singed abroad by a German heiress and her English husband should be honoured following their divorce in London.
Upon disputing an earlier ruling that she should give her estranged Oxford graduate husband over £5.5 million, Katrin Radmacher has had the sum reduced to £1 million plus a £2.5 million repayable fee towards a home.
Her former husband, who was an investment banker when the pair met but has now gone back to university, will also see his debts of £700,000 paid off by Ms Radmacher.
She commented: 'The arrangements the court has ordered will enable our daughters to live comfortably when they are with their father and that is the way it should be.'
Unlike countries such as Germany, France and the US, prenuptial agreements traditionally hold no legal authority in the UK and the decision on how to split a couple's assets lies ultimately with the courts.
View all news in 'Family and Divorce Law'
Upon disputing an earlier ruling that she should give her estranged Oxford graduate husband over £5.5 million, Katrin Radmacher has had the sum reduced to £1 million plus a £2.5 million repayable fee towards a home.
Her former husband, who was an investment banker when the pair met but has now gone back to university, will also see his debts of £700,000 paid off by Ms Radmacher.
She commented: 'The arrangements the court has ordered will enable our daughters to live comfortably when they are with their father and that is the way it should be.'
Unlike countries such as Germany, France and the US, prenuptial agreements traditionally hold no legal authority in the UK and the decision on how to split a couple's assets lies ultimately with the courts.
View all news in 'Family and Divorce Law'
