The ex-wife of a millionaire businessman whose family founded the Screwfix chain is back in court for the latest round of a money dispute after complaining that she has been left with less than 10% of assets worth more than £80 million.
A barrister representing Julia Goddard-Watts on Thursday told Court of Appeal judges in London that she was walking away with £7.4 million, following the breakdown of a 22-year relationship, and James Goddard-Watts was left with £75 million.
Peter Mitchell KC said the latest ruling by a judge based in the Family Division of the High Court meant that Mrs Goddard-Watts would be left with less than 10% of assets.
Mrs Goddard-Watts has appealed against a ruling made by Sir Jonathan Cohen earlier this year – Mr Goddard-Watts is contesting her appeal.
Mrs Goddard-Watts would exit with £7.4 million... Mr Goddard-Watts would exit with £75 million— Peter Mitchell KC
Lady Justice Macur, Lady Justice Nicola Davies and Lady Justice Carr are considering arguments at a Court of Appeal hearing in London.
Mr and Mrs Goddard-Watts, who are both in their 50s, separated in 2009 and have been embroiled in a long-running battle over money.
Judges have heard that Mr and Mrs Goddard-Watts had reached an agreement in 2010.
Mr Goddard-Watts had agreed that Mrs Goddard-Watts should get a house worth £3.25 million and a £4 million lump sum.
She subsequently complained that he had not revealed the full extent of his wealth.
A judge then concluded that Mr Goddard-Watts had “given a false presentation” when making the 2010 agreement, and in 2016 he was told to hand Mrs Goddard-Watts more than £6 million.
Mrs Goddard-Watts returned to court again in 2018 and made further complaints.
She said Mr Goddard-Watts had not given full detail about the potential value of a deal he was involved in.
A judge ruled in her favour in late 2019.
Mr Justice Holman said that, if the pair could not agree on a sum, a judge should again reassess evidence and decide whether Mrs Goddard-Watts should get more money.
He said a case in which a woman had twice complained about “non-disclosure” after a settlement was “vanishingly rare” and “probably unique”.
Sir Jonathan reconsidered the case in January 2022 and awarded Mrs Goddard-Watts another £1.1 million.
However, Mrs Goddard-Watts wants more.
There was no consideration by the judge of the fairness of these respective figures— Peter Mitchell KC
“Overall, including the award of £1.1 million, Mrs Goddard-Watts would exit with £7.4 million,” Mr Mitchell told appeal judges in a written argument.
“Mr Goddard-Watts would exit with £75 million.”
He added: “There was no consideration by the judge of the fairness of these respective figures.”
Mr Mitchell said: “This appeal raises an important point of principle; should a person who has obtained an order – two orders in this case – through fraud be entitled nonetheless to benefit from their fraud.”
He said judges had made orders in 2010 – by consent – and in 2016, after a hearing, which had been set-aside because of Mr Goddard-Watts’s “fraudulent representations/non-disclosure”.
Mr Mitchell told appeal judges that the pair had met when Mr Goddard-Watts was in the RAF and had married in 1996.
Mr Goddard-Watts had “joined” with his parents in their “modest hardware business”.
“Through the parties’, Mr Goddard-Watts’s parents and Mr Goddard-Watts’s brother’s endeavours, that business was transformed and was sold for £85 million in 1999,” said Mr Mitchell.
“From this sale, Mr Goddard-Watts received £15 million net.
“The parties applied these proceeds towards the building of the former matrimonial home near Yeovil (Somerset) and, amongst other things, the purchase of a fine holiday home in Mallorca, and a yacht.
“It also supported the parties’ very good lifestyle.”
He said Mr Goddard-Watts had gone on to pursue new business ventures.
