The Radmacher Case: Implications for London Prenuptial Solicitors
The case of Radmacher v Granatino has changed the legal landscape of Great Britain. A ruling handed down by the Supreme Court has recognised the validity of German heiress Katrin Radmacher's prenuptial agreement with her ex-husband, Nicolas Granatino. Previously, the British legal system had held prenuptial agreements to be contrary to public policy because they tended to undermine the perception of marriage as a union intended to last a lifetime. Contracts contrary to public policy are generally ruled as unenforceable by the courts.
That has now changed thanks to Radmacher. The eight to one vote ruled in favour of the wife in the case, whose prenuptial agreement protected her fortune, which is known to be in excess of her £106m. Radmacher's ex-husband, Nicolas Granatino signed the agreement in 1998 in London but upon the couple's divorce several years later sought to benefit financially from the marriage. Granatino initially prevailed in court but with the new ruling, will have to abide by the terms of the prenuptial agreement he signed prior to marriage.
Such agreements are commonly used in both Germany and France where Radmacher and Granatino were born. In those countries, prenuptial agreements have long been enforceable.
Family Law: Solicitors Question Ruling
The judges in the case have received criticism for setting policy in this area instead of leaving the matter to the legislature, with some family law solicitors regarding the landmark decision as a change to the British constitution. However, the ruling itself does not automatically uphold all prenuptial agreements; it merely opens the door. The Supreme Court president, Lord Phillips, specified that courts would retain the ability to waive both prenuptial and postnuptial agreements, particularly when the terms tended to disadvantage any children of the union.
Legal Landscape Vastly Altered by Ruling
Prenuptial solicitors see the ruling as an affirmation of an essential freedom, though most are quick to point out that procedural safeguards are important in order to be certain that the use of a prenuptial agreement does not unfairly disadvantage the weaker party in a marriage.
It may also change in profound ways the practice of Family Law. London and the rest of the nation have been regarded as the "divorce capital" of Europe for decades; this is due largely to the fact that prenuptial agreements held little weight with courts here. Solicitors may begin to see a decrease in the divorce business and an increase in requests for prenuptial agreements. These agreements may need to be periodically renewed and renegotiated as family finances change, particularly with the birth of each additional child. For advice concerning the drafting or revision of a prenuptial agreement, contact Southampton Row Solicitors, London.
