The case of Myerson is a further case clarifying the rules in Barder. The husband and wife had divorced shortly before the financial crisis. At that time, their assets were worth around £25 million, around £15 million of which were made up of shares in the husband’s company. The husband had retained these shares as part of a settlement which saw him keep 57% of the couples’ assets.
In the months following the settlement, the company suffered as a result of the financial crisis and the value of the husband’s shareholding fell by around 90%. The husband applied back to the court, arguing that since the shares had fallen so dramatically, it constituted a Barder event and justified the re-opening of proceedings.
The court found against him, holding that the natural fluctuation in prices (even on a scale this dramatic) did not constitute a Barder event.
The information on this website is intended as a guide and does not constitute legal advice. Vardags do not accept liability for any errors in the information on this website, nor any losses stemming from reliance upon the statements made herein. All articles and pages aim to reflect the legal position at time they were published, and may have been rendered obsolete by subsequent developments in the law. Should you require specialist advice, tailored to your situation, please see how Vardags can help you.
Vardags Limited is a limited company trading as Vardags, Company No 7199468, registered in England and Wales, having its registered office at 10 Old Bailey, London EC4M 7NG. Vardags is authorised and regulated by the Solicitors Regulation Authority (SRA Number 535955). The term “Director” is used to refer to a director of Vardags Limited or to a non-legally qualified employee or consultant of Vardags Limited with equivalent standing; the term “Director” does not necessarily imply that the relevant individual is a director of Vardags Limited. The term “Partner” is used to refer to a legally qualified director of Vardags Limited or a legally qualified employee or consultant of Vardags Limited with equivalent standing; the title “Partner” does not necessarily imply that the relevant individual is a director of Vardags Limited and does not imply that they are a partner in the legalsense. Our Partners are not liable for the debts, liabilities or obligations of Vardags Limited. A list of the directors of Vardags Limited and a list of the names of those using the title of “Director” or “Partner” together with their official status available for inspection at Vardags’ registered office. VAT number: 99 001 7230.