Solicitors in Northern Ireland may be seeing increased numbers of renegotiated divorce cases as the credit crunch has caused major changes in the finances of many ex-couples.

The Daily Telegraph has been told by a range of lawyers that they are seeing greater numbers of renegotiated cases as many high-earning men are looking to reduce their maintenance payments.

With the credit crunch putting many people out of work, a host of individuals were expecting to pay for their settlement through provisional bonuses, which have now not been received.

The news comes on the back of a case that reached the High Court last week, which saw a property investor claim that he could not afford to pay his ex-wife.

Jim Moore stated that he was down to his last £3 million, despite his property company once being valued at £135 million, and that he was unable to afford the £4.7 million he had been ordered to pay his former wife over the next three years.

Figures released in January by the online advice centre InsideDivorce.com revealed that a mixture of the credit crunch and the New Year was liable to increase the number of divorces that occurred.
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