On a constrained 2-D Navier-Stokes equation

The planar Navier-Stokes equation exhibits, in absence of external forces, a trivial asymptotics in time. Nevertheless the appearence of coherent structures suggests non-trivial intermediate asymptotics which should be explained in terms of the equation itself. Motivated by the separation of the different time scales observed in the dynamics of the Navier-Stokes equation, we study the well-posedness and asymptotic behaviour of a constrained equation which neglects the variation of the energy and moment of inertia.