Wife loses legal bid to renegotiate divorce settlement

A woman who launched a legal battle to renegotiate the divorce settlement she has with her former spouse has lost her case.

Kim and Martin Walkden got married in 1986 and divorced two decades later.

She was initially given a cash settlement totalling £482,000, which was predominantly based on the £800,000 value placed on Mr Walkden's company.

Two months after the agreement was reached, the firm underwent a lucrative takeover deal in which he received £1,758,199.

Ms Walkden was then granted permission to seek a renegotiation of the terms.

However, Lord Justice Thorpe recently ruled that none of the legal requirements that would allow Ms Walkden to reopen the hearing concerning a renegotiation of assets had been met.

Meanwhile, research conducted recently by Safe Home Income Plans suggested that couples who decide to divorce during the recession could lose up to 22.5 per cent of the value of their homes if they sell them as part of a division of assets.
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30/06/2009 13:42

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