P v P divorce case: a bonus for bankers
By James Copson
For bankers, the ruling in the recent divorce case of P v P is a real bonus. The High Court directed that when ordering maintenance payments on marriage breakdown, the proper approach to division of income that included a bonus was to fix a monthly amount to meet the claimant’s basic need from the paying party’s salary and to award an annual top-up from the bonus as a percentage of the net bonus, but subject to a cap (in this case relatively modest) on the total…
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In a two-part analysis, Withers compared how different jurisdictions dealt with spousal maintenance.
The court has emphasised that sharing stops on divorce — so logic dictates that with the marriage over, sharing has no place in the assessment of maintenance.
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