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The Olympic Games: Swift justice through the CAS Ad Hoc Division
Tim Lowles
With over 800,000 businesses incorporated in the UK every year, it is no surprise that business assets and in particular the disposal of business interests are often a significant issue when dividing assets between separating spouses in financial remedy proceedings. The landmark case of White v White [2000] introduced the starting point of an equal division of capital, as Lord Nicholls held: “There should be no bias in favour of the money-earner and against the home-maker and the child-carer”. However, the concept of matrimonial and non-matrimonial assets is vital in cases involving businesses, as the non-business owning spouse may have a weaker claim against the value of the business, in circumstances where the value was generated prior to the marriage or following the parties’ separation.
The question of whether to seek a divorce is one over which many people agonise. However, for divorcing couples with international connections, the associated questions of when and in which country to get divorced are also extremely important considerations, and ones which can have serious repercussions for the outcome.
When ChatGPT is asked “Does the future of a fair financial remedies system lie in AI?”, the response is: “the future of a fair financial remedies system may involve the integration of AI technologies, but it's important to recognise both the potential benefits and challenges associated with this approach.” A strikingly typical lawyer’s answer, for a machine. Will AI revolutionise and provide certainty and cost-efficiency for the family legal system, or is it a treacherous commodity here to replace jobs and create unfairness?
The Kingsley Napley Junior Debate is taking place this week and we’re going to be discussing the impact of artificial intelligence on the way in which we help clients reach financial settlements. As someone who doesn’t know much at all about how AI works and the extent of its potential, I have spent some time trying to familiarise myself with what it can offer and the potential pitfalls.
This article first appears in Spear's 22nd May 2019
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