Husband Who Hid Assets Faces New Settlement

If you have negotiated a divorce settlement and then find out that your ex-spouse has lied about personal finances, the court can reopen the matter.

In a recent hearing, the judge decided that a businessman had not been entirely truthful when he made his financial disclosures. His ex-wife claimed that her ex-husband had substantially undervalued his assets, by claiming that shares he owned in a company had no value, when they were worth more than £700,000.

In addition, she claimed that he had failed to disclose other investments he held that were worth more than £800,000.

The wife successfully applied for the previously agreed financial settlement of £1.8 million to be set aside so that a new settlement, based on the true position, could be negotiated.

The courts insist that the disclosure of assets and income in such circumstances is correct and complete. Failing to be open and truthful can lead to unpleasant consequences.

If you are going through, or facing a divorce/money battle consult the experts.

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