A former investment banker has succeeded in winning a bigger divorce settlement after appealing against a ruling in which his wife was awarded 65 per cent of their joint assets.

The Court of Appeal had ruled that the 35/65 per cent overall split was justified between William Murphy and his wife Helene after their eight-year marriage. Lord Justice Thorpe said, however, that Mr Murphy’s deferred compensation scheme should not have been included and so Mrs Murphy was not entitled to 65 per cent of it. Nor had the High Court been right to rule that Mr Murphy had wasted £2 million of the family assets after separation from his wife in 2006.

There was no evidence to support the accusation and it was “unfair to the husband”, Lord Justice Thorpe said.

Mr Murphy, who worked for Salomon Brothers in New York and Merrill Lynch in London, will now get nearly £820,000 in the settlement after his wife’s share was cut from £1.9 million to £1.5 million. He can also claim the substantial legal costs of the case.

Source: Times Online