I have had a Divorce Settlement, last October, and the Values set at the time on Commercial Property are now lower by at least 40%.Would it be possible to apply to have the Values reappreciated and the Settlement adjusted.I have to sell some of this Property to pay part of this Settlement and I feel this is a most unfair Settlement now.
Province/Country relating to question : UK
I have tried to reach a time Settlement to allow the Market to recover but my X is now adamant and she says she will get an order to sell the whole of my Settlement .
There has been recent case law on a similar issue, including the notable Court of Appeal decision in Myerson v Myerson  EWCA Civ 282 which was decided last year. In that case, the husband appealed the ancillary relief decision because he said could no longer afford the settlement as his wealth had decreased due to the economic climate. Generally speaking, it seems unlikely that the Court will be minded to re-look at the settlement values, and indeed very few applications of the sort you refer to succeed.
As Lord Justice Thorpe said in that case: "There may be many who are contemplating an attempt to reopen an existing ancillary relief order on the grounds of subsequently encountered financial eclipse....Even then they would be well advised to heed the warning that very few successful applications have been reported.... I echo the words of Hale J that the natural processes of price fluctuation, whether in houses, shares, or any other property, and however dramatic, do not satisfy the Barder test."
Having said that you should seek formal legal advice from a specialist divorce lawyer. A list is available from The Law Society.
I hope that this answer is helpful to you, although it may come as a disappointment.
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LL.B LL.M ACIArb - Author of Being a Leaseholder - The Essential Guide to Owning a Flat
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