Nicola Saxton

Financial Remedy

Nicola undertakes financial remedy work for high net worth individuals and is regularly involved in high court cases where the assets exceed £10m and has acted as junior in cases of substantial value and complexity. Nicola has been involved in a number of high net worth high court matters, typically listed from 3 – 9 days and involving assets of £5m – £25m. Her cases involve family businesses and privately owned companies. She has experience of both foreign and domestic trusts.

Financial Remedy Cases

• Representation of wife on 9 day high court preliminary application to set aside disposition of assets into Hong Kong trust.
  
  
• Junior in 5 day case in the high court involving complex business and personal assets value circa £30m and thereafter successfully represented the husband on appeal on a “Barder” point.
  
  
• Representation of wife in 3 day high court matter involving assets circa £7.5m including complex family trust and business assets.
  
  
• Farming/inherited wealth ancillary relief – assets circa £25m.
  
  
• Successfully represented a wife on a need based claim involving partially non matrimonial assets £4.5m and pension assets £4.1m.  The wife received capital and pension assets of just under £3m following a modest length childless marriage; £1.5m more than the husband offered.
  
  
• Successfully resisted wife’s claims for equal pension sharing order upon variation of maintenance claim.  Wife seeking pension share 44% of husband’s pension post retirement. Received 11.1%.
  
  
• Successfully represented a husband against his wife’s claims for over £5m and a joint lives maintenance order on the basis of a company valuation of £6-10m. After a 2 week High Court hearing the judge awarded the wife just 43% of the assets and limited term maintenance based upon a company valuation of £1.2m. The departure from equality reflected both costs in view of the wife’s litigation conduct and 50% of the reduction in the value of the company since the husband‘s open offer.
  
  
• In a case with assets of between £22-£27m (depending upon the valuation of the company) and trust assets of £5m, on behalf of the husband at a private FDR Nicola negotiated a settlement of £7m by instalments in favour of the wife based upon needs rather than sharing to reflect the provenance of the assets.
  
  
• At a 12 day preliminary hearing representing the wife, Nicola successfully resisted claims by the wider family to assets of c. £800,000 based upon trust, estoppel and gift and succeeded in recession claims and set aside to a value of over £750,000. Overall assets were restored to be divided between the parties of over £1.5m.
  
  
• A case involving assets of over £25m following a 5 day high Court hearing on behalf of the husband, Nicola successfully established the ring-fencing of £3m of the assets based upon the provenance of the assets, notwithstanding that entire sum had been vested in the family home throughout the 15 year marriage and was properly classified as matrimonial property.
  
  
• On behalf of a wife involving limited capital but a high income of over £750,000 gross p/a, Nicola successfully negotiated a settlement based upon a sharing of future income on a stockpiling basis.

Recent Reported Cases

Richardson v Richardson [2011] EWCA Civ 79
AR v AR [2011] EWHC 2717 (Fam)

FS v PS [2015] EWhc 2797

MF v SF (Financial Remedy: Financial Conduct) [2016] 2 FLR 622

Trust

In addition to financial remedy cases work Nicola regularly undertakes schedule 1 claims and Trusts of Land and Appointment of Trustees Act 1996TOLATA applications.

Recently contested Trust cases

• Representation of wife on 9 day preliminary application to set aside disposition of assets into Hong Kong trust. High Court.
  
  
• Junior in 5 day case in High court involving complex business and personal assets value circa £30m. Presently on appeal on “Barder” point.
  
  
• Representation of wife in 3 day high court matter involving assets circa £7.5m including complex family trust and business assets.
  
  
• Farming/ inherited wealth ancillary relief – assets circa £25m.
  
  
• Successfully represented a wife on a needs based claim involving partially non matrimonial assets £4.5m and pension assets £4.1m. The wife received capital and pension assets of just under £3m following a modest length childless marriage; £1.5m more than the husband offered.
  
  
• Successfully resisted wife’s claims for equal pension sharing order upon variation of maintenance claim. Wife seeking pension share 44% of husband’s pension post retirement. Received 11.1%.
  
  
• Successfully represented a husband against his wife’s claims for over £5m and a joint lives maintenance order on the basis of a company valuation of £6-10m. After a 2 week High Court hearing the judge awarded the wife just 43% of the assets and limited term maintenance based upon a company valuation of £1.2m. The departure from equality reflected both costs in view of the wife’s litigation conduct and 50% of the reduction in the value of the company since the husband‘s open offer.
  
  
• In a case with assets of between £22-27m (depending upon the valuation of the company) and trust assets of £5m, on behalf of the husband at a private FDR negotiated a settlement of £7m by instalments in favour of the wife based upon needs rather than sharing to reflect the provenance of the assets.
  
  
• At a 12 day preliminary hearing representing the wife, successfully resisted claims by the wider family to assets of c. £800,000 based upon trust, estoppel and gift and succeeded in recession claims and set aside to a value of over £750,000. Overall assets were restored to be divided between the parties of over £1.5m.  
  
  
• In case involving assets of over £25m following a 5 day high Court hearing on behalf of the husband successfully established the ring-fencing of £3m of the assets based upon the provenance of the assets, notwithstanding that entire sum had been vested in the family home throughout the 15 year marriage and was properly classified as matrimonial property.
  
  
• On behalf of a wife involving limited capital but a high income of over £750,000 gross p/a, successfully negotiated a settlement based upon a sharing of future income on a stockpiling basis.

Arbitration

Nicola is a qualified arbitrator and is a member of CIArb and of a Yorkshire based arbitration group, Family Financial Arbitration.

Settlement

Nicola has a holistic and commercial approach to litigation and, in addition to her advocacy in court she has concluded negotiated settlements with assets up to £450m and regularly represents clients at joint settlement meetings, private Financial Dispute Resolution hearings and Arbitrations.

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