When it comes to dividing assets in a divorce, what happens when most of the money is tied up in a business. The recent High Court case Vince v Vince [2024] EWFC 389 tackled exactly that, and the outcome offers a sharp reminder that fair doesn’t always mean simple.
Background
Dale Vince, founder of green energy giant Ecotricity, and Kate Vince, his wife of 16 years (including 6 years of pre-marriage cohabitation), went to court over how to split his estimated £150m business empire.
The key issue was what portion of the business should be considered “matrimonial” i.e. built during the relationship and how much the Wife should get.
This case reaffirmed that courts would look closely at how and when wealth was built and that non-business spouses are still entitled to a fair share, even when assets are complex or tied up in companies.
Whether you’re a business owner or not, it’s a reminder: in family law, fairness is about the whole picture not just the bank balance.
What the Court Decided
- Marital Share: About 74% of the business value was built during the relationship.
- Wife’s Award: £43.5 million roughly 50% of the matrimonial portion, or 38% of total assets.
- No Discount: The judge rejected claims that her share should be reduced due to business risk or illiquidity.
- Donations Questioned: While most of Mr Vince’s political/charity donations weren’t “added back,” £4.5 million still in accounts was.
The Legal Takeaway from this case that the sharing principle does apply even to non-financial contributions such as for example raising children.
- The courts can trace back when a business really started, even if before the marriage.
- Donations aren’t automatically excluded the timing and control are key.
- Long-term cohabitation before marriage does influence the length of the sharing period.
Further Information
If you would like more information or wish to discuss this topic further, please feel free to contact Monika Brar at JPC for a free initial 30-minute consultation.
Email: mbrar@jpclaw.co.uk
Tel: 020 7644 6305
