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Pre-nuptial victory for heiress Pre-nuptial victory for heiress
(21 minutes later)
An Appeal Court ruling over a divorced couple's pre-nuptial agreement could pave the way for them to become legally binding in the UK. A Court of Appeal ruling over a divorced couple's pre-nuptial agreement could pave the way for such contracts to become legally binding in the UK.
Katrin Radmacher, a German heiress, has overturned an earlier decision which awarded her ex-husband £5.8m of her £100m fortune despite their agreement. Katrin Radmacher, a German heiress, has overturned an earlier court decision to award her ex-husband £5.8m of her £100m fortune despite their agreement.
Frenchman Nicolas Granatino had agreed not to make a claim if they divorced.Frenchman Nicolas Granatino had agreed not to make a claim if they divorced.
Such contracts are enforceable in France and Germany, but not in the UK where the couple married in 1998. Such contracts are enforceable in Germany, where the couple's was signed, but not in the UK where they married.
Miss Radmacher, 39, is one of Germany's richest women and Mr Granatino is a former investment banker. They are also enforceable in Mr Granatino's home country.
Their pre-nuptial was signed in Germany before the couple married. Miss Radmacher, one of Germany's richest women, won a ruling from the Court of Appeal that such contracts should be taken into account by the courts when they divide assets after a marriage fails.
The pair's marriage was said to have broken down after Mr Granatino, 37, gave up a lucrative job in the emerging markets sector in 2003 to become a £30,000-a-year biotechnology researcher at Oxford University. 'Broken promise'
Miss Radmacher, 39, said she was "delighted" by the decision.
"Ultimately, this case has been about what I regard as a broken promise," she said.
"The agreement was at my father's insistence as he wanted to protect my inheritance - this is perfectly normal in our countries of origin, France and Germany. Like all wealthy parents, he feared gold-diggers.
"As an heir himself, Nicolas perfectly understood this. The agreement gave me reassurance that Nicolas was marrying me because he loved me as I loved him... that we were marrying for the right reasons."
The couple's pre-nuptial was signed in Germany before the couple married in London in 1998.
The pair's marriage was said to have broken down after Mr Granatino, 37, gave up a lucrative investment banker job in 2003 to become a £30,000-a-year biotechnology researcher at Oxford University.
They divorced in 2006 and a High Court ruling last year awarded her ex-husband £5.8m.They divorced in 2006 and a High Court ruling last year awarded her ex-husband £5.8m.
Miss Radmacher appealed against that decision and her lawyer, Richard Todd QC, told a panel of three Court of Appeal judges the freedom to agree a contract was "at the heart of all modern commercial and legal systems".Miss Radmacher appealed against that decision and her lawyer, Richard Todd QC, told a panel of three Court of Appeal judges the freedom to agree a contract was "at the heart of all modern commercial and legal systems".