About the Family Law Week blog

The Family Law Week Blog is a companion site to Family Law Week. It complements the news, cases and articles published on Family Law Week with additional comment and coverage of the wider aspects of family law.

The Blog is edited by Jacqui Gilliatt, of 4 Brick Court and Lucy Reed, of St Johns Chambers.

Monday, 19 May 2008

Credit crunch hitting divorce settlements

City types are experiencing difficulty finalising divorce settlements because of the credit crunch. That view was voiced by Anna Wagstaff of Gordon Dadds in a short comment on the Times Law Watercooler pages. Her own experience is that,
"there have been a number of cases involving City-types lately in which the
divorce can't be finalised because the parties can't sell their biggest asset,
their house. Clients having gone through the heartbreak of divorce and having
reached a financial settlement find that they still cannot move on because
failure to sell the house means they can't implement their divorce agreement,"

And this is on top of the prospect of lost bonuses. As the The Times adds, "Is there no end to their suffering?"

We would of course be keen to know if anyone else has experience of the credit crunch affecting negoitaions and settlements. Send your comments to info@familylawweek.co.uk

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