A Legacy Intact: safeguarding your family business in the event of divorce - Book - Page 32
If mediation breaks down either
party can issue proceedings or
consider other forms of alternative
It is for this reason that many
IT’S NO LONGER
L I K E LY T H A T T H A T
T H E E N G L I S H FA M I LY
COURT WILL
EXCLUDE THE
M E D I A E N T I R E LY F R O M
FA M I LY
LITIGATION
PROCEEDINGS
people are now favouring alternative
dispute resolution to address the
financial element of a divorce. This
can take many forms and has the
advantage of complete privacy and
discretion. It can also be a very
effective way of resolving matters
more quickly and cost efficiently. For
It is important to note that financial
example, parties are legally obliged
proceedings arising out of a marital
to consider mediation before issuing
breakdown are no longer invariably
any Court proceedings. Mediation
held in private. There is now a great
is a voluntary, non-binding process
deal of emphasis within the English
during which the parties (with the
Family Court in allowing media
assistance of a neutral third party)
access to the press. Therefore if a
explore the options for resolution
shareholder or their children were to
and attempt to reach an agreement.
become a party to family litigation,
If an agreement is reached, this
the details of their case could be
can be formalised through legally
reported publicly. The Family Court
binding documentation via lawyers.
can impose reporting restrictions
but it is unlikely to exclude the media
“
dispute resolution. Matters can
be kept out of the Family Court
altogether if it is possible to agree
WE SEE MANY
PARTING COUPLES
OPT FOR ONE OR
MORE OF THE FORMS
O F A LT E R N A T E
DISPUTE
RESOLUTION – EVEN
WHERE THERE ARE
COMPLEX ISSUES
AROUND ASSETS
REL ATING TO
FA M I LY B U S I N E S S E S
TO WORK THROUGH.
IT’S A ROUTE TH AT
PROMISES PRIVACY
– UNLIKE COURT
PROCEEDINGS, AND
I T ’ S O F T E N FA S T E R
A N D L E S S C O S T LY.
to proceed by way of arbitration at
the earliest juncture.
Arbitration
is a private forum in which an
independent arbitrator makes an
award. In contrast to mediation, the
outcome is final and binding on the
parties. Under this route, if it is not
possible to negotiate a settlement
through solicitors, and perhaps
counsel after suitable disclosure,
the parties trigger the arbitration
”
KATIE O’CALLAGHAN
FA M I LY P A R T N E R
entirely.
process.
Typically, the arbitrator
will be a valued and respected
retired High Court Family Judge
or a barrister specialising in family
law. There are further arguments in
favour of arbitration as an alternative
to Family Court monitored litigation,
namely that the parties can jointly
select a suitable arbitrator; it is
cost-efficient; quicker; and generally
cheaper.
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