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Pre-nuptial victory for heiress Pre-nuptial victory for heiress
(30 minutes later)
A court ruling over a divorced couple's pre-nuptial agreement could pave the way for such contracts to become legally binding in England and Wales.A court ruling over a divorced couple's pre-nuptial agreement could pave the way for such contracts to become legally binding in England and Wales.
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.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 Germany, where the couple's was signed, but not in England where they married.Such contracts are enforceable in Germany, where the couple's was signed, but not in England where they married.
In a landmark judgment, three of the most highly respected judges in the land have ruled that pre-nups can be decisive in determining the financial division on divorce Miss Radmacher's solicitor, Ayesha Vardag
They are also enforceable in Mr Granatino's home country.They are also enforceable in Mr Granatino's home country.
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.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.
Mr Granatino is expected to seek permission to take the case to the House of Lords.
'Broken promise''Broken promise'
Miss Radmacher, 39, said she was "delighted" by the decision.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."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."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.""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."
Her solicitor, Ayesha Vardag, said: "In a landmark judgment, three of the most highly respected judges in the land have ruled that pre-nups can be decisive in determining the financial division on divorce."
Marriage contract
The couple's pre-nuptial was signed in Germany before the couple married in London in 1998.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.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".
He said Miss Radmacher had never said her former husband would leave the marriage with nothing.
The Court of Appeal judges ruled that Mr Granatino's pay-out of £5.8m should be cut to about £1m as a lump sum in lieu of maintenance.
In addition, there will be a fund of £2.5m for a house that will be returned to Miss Radmacher when the youngest of their two daughters, who is six, reaches the age of 22.
Mr Granatino's debts, of about £700,000, are also to be paid off by the heiress, who had always agreed to this part of the settlement.