Crunch hits wife's divorce settlement

A JUDGE has said the financial crisis has affected the award of a local couple's divorce settlement.

Former teacher Ruth Smith wanted a specific capital sum paid to her from the sale of the matrimonial home, which was valued at £650,000 in November.

But lawyers acting for Colin Smith argued that "in the current depressed state of the market" she should just get the free proceeds of the sale, likely to be very different from the earlier valuation.

In his ruling at the Court of Session in Edinburgh, Lord Malcolm said: "In the current exceptionally uncertain state of the market I regard it is as fair and reasonable that the pursuer (Mrs Smith] should be provided with whatever free proceeds are achieved by the sale of the former matrimonial home."

He said he would make an order requiring the sale of the house in Braid Crescent, with the proceeds going to the wife.