Credit crunch not enough to overturn settlement

Case:  Myerson v Myerson

Philip Way represented the husband in complex financial proceedings which involved a multi-million pound shareholding in a quoted company. With a recession in full swing and a declining global economy, the Court of Appeal was asked to consider whether significant and dramatic changes in the value of assets, following the onset of a credit crunch, should be a sufficient reason for setting aside a financial settlement and dealing afresh with matters. The much-anticipated judgment – which is still referred to ten years on – confirmed the court’s reluctance to re-open orders in all but the most exceptional circumstances. 

A link to the judgment can be found here

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