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Sector Insights

Covid 19: the consequences are known to be extreme

22.04.2020 Family offices

Yael Selig

Yael Selig Consultant

We are living in the most unprecedented times. The world has been turned upside down, global stock markets have taken an incredible hit, many have found themselves either unemployed or on reduced salaries or with assets which as Richard Branson has told us have significantly reduced in value. All this is without a foreseeable end in sight.

The reality is that no-one knows what the future holds. Anyone who has received a Court Order in Family Proceedings less than a year ago whether by agreement or imposed by a Judge should consider having matters reviewed. The case of Barder is a long established precedent that confirms that dramatic unforeseen changes  may mean the Court would set it aside or vary it on the basis that such considerable change in circumstances means it is no longer valid.

It is important to review this to avoid further economic suffering in situations where it has now become apparent that it is impossible to comply with the terms of an Order that has been made or to do so would produce a completely different and unjust result wholly different to what was intended

The obvious option is apply to challenge the order on the basis of a “Barder Event” argument. The real question is “Is this likely to succeed ?”

Of course there are no guarantees but it is definitely worth exploring and to do so promptly because delay will mean the opportunity is lost.

Please do not hesitate to contact us.

Article authors:

Yael Selig