A High Net Worth Divorce & Family Trust Saga (Part 7)

Financial dispute resolution

Following over 5 years of litigation and delays, the parties agreed and attended a private financial dispute resolution (“FDR”). The process involved short form submissions and a core documents bundle being provided to a retired family judge, who in turn provided their (non-binding) assessment of how the Family Court would likely view the division of the family’s finances.

Whilst no guarantees of success the process was in an informal, private and ‘without prejudice’ setting, which offered the best chance of settlement as the parties were in the room and could speak freely.

The FDR took place over two days but avoided what would have been a four-week (plus) trial and the costs, inconvenience, and stress that goes with along with it. Accordingly, the cost effectiveness and high chances of reaching settlement make FDRs a very attractive proposition, whether a low or high value case and no matter how far apart the parties’ positions appear to be.

In this case, the FDR process unblocked a lot of the issues between the parties and enabled a constructive settlement to be reached and for strained relationships to be repaired.

Sinels has been involved in many FDRs, with a high rate of success. The use of FDRs in Jersey has been promoted by Sinels for a very long time and is something that has seen traction more recently, and hopefully it will be a trend that continues to develop; with the Family Court now offering FDR hearings.