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Judgment Approved
Sir James Munby, President of the Family Division :
This is an appeal, pursuant to permission granted by Black LJ on 28 April 2016, from an order made by Moylan J, as he then was, on 16 July 2015. The judge was exercising the court’s jurisdiction under Part III of the Matrimonial and Family Proceedings Act 1984 on a former wife’s application for financial relief against her former husband.
For present purposes the story in fact began on 1 April 2014 when Moylan J gave judgment and made an order following the substantive hearing of the wife’s application. I need say nothing about the various assets except to note that, amongst the husband’s assets, and the most significant asset within the jurisdiction, was a pension fund with a transfer value, as at 10 January 2014, of just under £770,000. For the reasons set out in his judgment Moylan J concluded that the wife should have £880,000 by way of capital provision, of which £100,000 was to be provided by the transfer to her of a property at CC. In relation to the balance of £780,000 he explained the order he proceeded to make as follows:
“The balance due to the wife of £780,000, namely £8880,000 less £100,000, could be achieved by transferring to the wife all of the husband’s … pension. I do not propose, at this stage, to make such an order because I consider that I should give the husband the opportunity to pay the wife a lump sum, in addition to my making a pension sharing order. That would, in my judgment, be a fairer structure. If the pension were divided equally, £385,000 each, the husband would need to pay the wife a lump sum of £395,000. Making some allowance for the husband’s debts, I reduce the lump sum to £350,000. Accordingly, I make an order … that the husband should pay the wife a lump sum of £350,000.
... I do not, however, currently propose to make a pension sharing order. I propose, instead, to adjourn the wife’s application for a pension sharing order to give the husband the opportunity to pay the lump sum order. If that sum is not paid, either in part or in its entirety, in my view the wife can apply to enforce it by way, in part, of a pension sharing order. I will also, because I am adjourning that application, make an order restraining the husband from disposing of or in any way of dealing with his … pension, pending the adjourned hearing.”
The order dated 1 April 2014 accordingly required the husband to pay the wife “a lump sum of £350,000 … by … 1 st August 2014.” T