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The case of Jones concerned the value of a business in relation to matrimonial proceedings.
The parties had met in 1996 and separated in 2006. When they married, the husband owned a business worth around £2million. By the time they had separated, it was worth £12 million, but was sold the following year with a net profit of £25 million.
The court held that that uplift in value between 2006 and 2007 should be considered part of the marital pot.
The court also held that the latent potential of the business at the start of the marriage should be considered as a “springboard” in the valuation. This meant that the proper valuation for the company at the start of the marriage was £9 million, rather than £2 million. On that basis, the court held that the matrimonial portion of the business should be valued at £16 million, and divided equally.
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