The above article from the Telegraph reports on the recent Court decision regarding Tricia Ronane’s wish to sell her share of rights to royalties earned by The Clash. Tricia Ronane managed the band, The Clash, for over 20 years and married the bassist, Paul Simonon, in 1990. The couple divorced in 2008 and part of their financial settlement was that both Paul and Tricia would remain shareholders and directors of the company, Cut-Throat Productions Ltd, into which all The Clash income was paid. The court decided that the shareholdings held by each party were not assets to be sold and were instead a means of ensuring both parties received an equal share of The Clash’s income.
Tricia had wanted to separate herself from The Clash, as well as from her ex-husband. However, the consent order that she had signed and agreed, some 10 years previously, had stopped her from achieving this goal. This case highlights the importance of obtaining legal advice prior to entering into a consent order, to ensure that all the implications, both financial and emotional, have been considered before a final settlement is reached.
If you require advice on any family law matters such as marriage, divorce, cohabitation, separation and/or children please contact Ellisons Family Team on 01206 764477 or 01255 851000.