£500k on costs and the only asset is a flat worth £298k. How on earth did they not manage to accrue more. City lawyer and spouse working in a paying city, surely they should have saved more?
This is yet another case where a highly educated couple with young children has engaged in lengthy, destructive and disproportionate legal proceedings. These disputes have continued for over five years with emotionally bruising and expensive litigation in relation to both money and the children of the marriage. The present appeal is a second appeal in the financial remedy proceedings. The costs to date are in excess of £500,000. The only substantial asset in the case, a flat in Panama ("the Panama property"), has a net value of only £298,377. As a consequence, as the District Judge said in his first instance judgment: "There is no way that the parties' comfortable lifestyle can be maintained. Much of this has been caused by the intolerable burden of costs".