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This is an application by the respondent former wife for the variation of the time within which a payment is due under the terms of paragraph 3 of a consent order of 18 th August, 2011. The respondent is not seeking a variation of the amount of the order, only of the timing.
The consent order provided for the transfer of Property 1 ("the property") from a company into the sole name of the respondent, with the respondent taking over sole responsibility for the repayment of the mortgage. The petitioner cooperated in the transfer of the property from the company in which he and the respondent both had shares.
"(a) the Respondent shall pay to the Petitioner the sum of £80,000 payable on the first of the following trigger events:
(e) on the continuous cohabitation of the Respondent for a period in excess of 6 months; or
Interest is to accrue upon the capital sum at the Bank of England Base Rate and is to be paid by the respondent to the petitioner at the same time as the payment of the capital sum of £80,000. The contents of the house were also transferred to the respondent, except for the petitioner's motor bike.
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