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Prenuptial agreements recognised as enforceable by UK court

October 25, 2013

lifestyle

Though they have been all the rage in Hollywood and amongst the high-rollers of the business world in the USA for some time, prenuptial agreements have really failed to make much of an impact on this side of the Atlantic until now. Prenups, a contract drawn up in advance of a wedding detailing the financial responsibilities and entitlements of both parties in the the case of  divorce, have not been considered legally binding in the UK up til now but a judicial ruling in a high profile divorce case may well set a precedent for them to become a standard part of English divorce law.

German heiress Katrin Radmacher went to court to appeal a high court decision in 2011 to give her ex-husband Nicholas Granatino £5.85m following their divorce, despite both parties signing an agreement before the wedding stating that neither would benefit financially if the marriage broke up. Although Radmacher is believed to be one of the richest women in Europe, Garantino claims that he was unaware of the extent of her wealth at the time of their marriage and that he signed a German-language prenuptial contract without first getting it translated to English.

The initial £5.8m settlement was reduced to £1m by the courts in 2012, and Radmacher agreed to pay her ex-husband’s debts amounting to £700,000. The latest high court decision enforced the initial prenuptial document and Granatino will now get nothing. Prenuptials are relatively commonplace in both Germany and Granatino’s native France but had not previously been deemed legally binding in Britain. While judges will have the authority to overturn prenuptial agreements in the future, the Radmacher-Granatino case represents a significant legal precedent.

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is a Team Leader in the Media Architecture department at Money Lion and is responsible for delivering innovative link-building strategies that combine external content strategy with elements of blogging and social media. Prior to his time at Money Lion, Jodi worked in online media in an editorial role while moonlighting as a blogger.

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